BTIG Research slashes price target on NIKE Inc. [NKE] – find out why.

NIKE Inc. [NYSE: NKE] stock went on a downward path that fall over -0.54% on Wednesday, amounting to a one-week price decrease of less than -1.74%. The company report on August 20, 2021 that NIKE, Inc. Announces First Quarter Fiscal 2022 Earnings and Conference Call.

NIKE, Inc. (NYSE: NKE) plans to release its first quarter fiscal 2022 financial results on Thursday, September 23, 2021, at approximately 1:15 p.m. PT, following the close of regular stock market trading hours. Following the news release, NIKE management will host a conference call beginning at 2:00 p.m. PT to review results.

The conference call will be broadcast live over the Internet and can be accessed at http://investors.nike.com. For those unable to listen to the live broadcast, an archived version will be available at the same location through 9:00 p.m. PT, October 7, 2021.

Over the last 12 months, NKE stock rose by 32.40%. The one-year NIKE Inc. stock forecast points to a potential upside of 14.13. The average equity rating for NKE stock is currently 1.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $249.61 billion, with 1.58 billion shares outstanding and 1.26 billion shares in the current float. Compared to the average trading volume of 6.28M shares, NKE stock reached a trading volume of 6781109 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on NIKE Inc. [NKE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NKE shares is $183.90 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NKE stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BTIG Research have made an estimate for NIKE Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 13, 2021. While these analysts kept the previous recommendation, UBS raised their target price from $170 to $185. The new note on the price target was released on June 25, 2021, representing the official price target for NIKE Inc. stock. Previously, the target price had yet another raise from $160 to $180, while Telsey Advisory Group kept a Outperform rating on NKE stock. On June 25, 2021, analysts increased their price target for NKE shares from 168 to 213.

The Average True Range (ATR) for NIKE Inc. is set at 2.86, with the Price to Sales ratio for NKE stock in the period of the last 12 months amounting to 5.60. The Price to Book ratio for the last quarter was 19.54, with the Price to Cash per share for the same quarter was set at 8.53. Price to Free Cash Flow for NKE in the course of the last twelve months was 57.73 with Quick ratio for the last quarter at 2.00.

NKE Stock Performance Analysis:

NIKE Inc. [NKE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.74. With this latest performance, NKE shares dropped by -8.38% in over the last four-week period, additionally plugging by 9.04% over the last 6 months – not to mention a rise of 32.40% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NKE stock in for the last two-week period is set at 33.21, with the RSI for the last a single of trading hit 26.08, and the three-weeks RSI is set at 40.05 for NIKE Inc. [NKE]. The present Moving Average for the last 50 days of trading for this stock 165.66, while it was recorded at 160.62 for the last single week of trading, and 144.60 for the last 200 days.

Insight into NIKE Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and NIKE Inc. [NKE] shares currently have an operating margin of +16.03 and a Gross Margin at +44.74. NIKE Inc.’s Net Margin is presently recorded at +12.87.

Return on Total Capital for NKE is now 30.58, given the latest momentum, and Return on Invested Capital for the company is 25.18. Return on Equity for this stock inclined to 55.01, with Return on Assets sitting at 16.58. When it comes to the capital structure of this company, NIKE Inc. [NKE] has a Total Debt to Total Equity ratio set at 100.36. Additionally, NKE Total Debt to Total Capital is recorded at 50.09, with Total Debt to Total Assets ending up at 33.95. Long-Term Debt to Equity for the company is recorded at 96.69, with the Long-Term Debt to Total Capital now at 48.26.

Reflecting on the efficiency of the workforce at the company, NIKE Inc. [NKE] managed to generate an average of $78,131 per employee. Receivables Turnover for the company is 12.34 with a Total Asset Turnover recorded at a value of 1.29.NIKE Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.70.

NKE Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NKE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for NIKE Inc. go to 17.00%.

NIKE Inc. [NKE] Insider Position Details

There are presently around $164,214 million, or 83.10% of NKE stock, in the hands of institutional investors. The top three institutional holders of NKE stocks are: VANGUARD GROUP INC with ownership of 104,646,829, which is approximately 0.464% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 89,911,057 shares of the stock with an approximate value of $14.2 billion in NKE stocks shares; and STATE STREET CORP, currently with $8.73 billion in NKE stock with ownership of nearly 0.395% of the company’s market capitalization.

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Positions in NIKE Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 1,122 institutional holders increased their position in NIKE Inc. [NYSE:NKE] by around 54,369,199 shares. Additionally, 951 investors decreased positions by around 52,552,986 shares, while 298 investors held positions by with 932,998,969 shares. The mentioned changes placed institutional holdings at 1,039,921,154 shares, according to the latest SEC report filing. NKE stock had 186 new institutional investments in for a total of 11,002,130 shares, while 120 institutional investors sold positions of 8,062,863 shares during the same period.

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