Barclays lifts NIKE Inc. [NKE] price estimate. Who else is bullish?

NIKE Inc. [NYSE: NKE] closed the trading session at $123.69 on 04/04/23. The day’s price range saw the stock hit a low of $121.36, while the highest price level was $123.945. The company report on March 28, 2023 that CIBC introduces additional Canadian Depositary Receipts (“CDRs”).

Expanded CDR lineup provides more opportunities for Canadians to invest in global companies.

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CIBC today announced the addition of six new Canadian Depositary Receipts (“CDRs”), now listed on the NEO Exchange.

The stocks have a year to date performance of 5.71 percent and weekly performance of 4.94 percent. The stock has been moved at 44.84 percent over the last six months. The stock has performed 2.93 percent around the most recent 30 days and changed 4.16 percent over the most recent 3-months.

If compared to the average trading volume of 6.29M shares, NKE reached to a volume of 5892785 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $134.14 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 2.20. 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.

Barclays have made an estimate for NIKE Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on March 22, 2023. While these analysts kept the previous recommendation, Redburn raised their target price to Sell. The new note on the price target was released on March 16, 2023, representing the official price target for NIKE Inc. stock. Previously, the target price had yet another raise from $110 to $130, while Telsey Advisory Group kept a Outperform rating on NKE stock.

The Average True Range (ATR) for NIKE Inc. is set at 2.81, with the Price to Sales ratio for NKE stock in the period of the last 12 months amounting to 3.71. The Price to Book ratio for the last quarter was 12.62, with the Price to Cash per share for the same quarter was set at 6.99. Price to Free Cash Flow for NKE in the course of the last twelve months was 109.58 with Quick ratio for the last quarter at 1.80.

NKE stock trade performance evaluation

NIKE Inc. [NKE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.94. With this latest performance, NKE shares gained by 2.93% in over the last four-week period, additionally plugging by 44.84% over the last 6 months – not to mention a drop of -7.36% 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 56.87, with the RSI for the last a single of trading hit 60.64, and the three-weeks RSI is set at 55.00 for NIKE Inc. [NKE]. The present Moving Average for the last 50 days of trading for this stock 122.25, while it was recorded at 121.72 for the last single week of trading, and 110.31 for the last 200 days.

NIKE Inc. [NKE]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and NIKE Inc. [NKE] shares currently have an operating margin of +14.49 and a Gross Margin at +46.13. NIKE Inc.’s Net Margin is presently recorded at +12.92.

Return on Total Capital for NKE is now 25.35, given the latest momentum, and Return on Invested Capital for the company is 23.21. Return on Equity for this stock inclined to 43.11, with Return on Assets sitting at 15.49. When it comes to the capital structure of this company, NIKE Inc. [NKE] has a Total Debt to Total Equity ratio set at 82.63. Additionally, NKE Total Debt to Total Capital is recorded at 45.25, with Total Debt to Total Assets ending up at 31.32. Long-Term Debt to Equity for the company is recorded at 76.55, with the Long-Term Debt to Total Capital now at 41.91.

Reflecting on the efficiency of the workforce at the company, NIKE Inc. [NKE] managed to generate an average of $76,435 per employee. Receivables Turnover for the company is 10.25 with a Total Asset Turnover recorded at a value of 1.20.NIKE Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 2.70.

Earnings per share (EPS) analysis for NIKE Inc. [NKE] stock

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 8.56%.

NIKE Inc. [NKE]: Insider Ownership positions

There are presently around $121,573 million, or 82.90% of NKE stock, in the hands of institutional investors. The top three institutional holders of NKE stocks are: VANGUARD GROUP INC with ownership of 109,698,806, which is approximately 0.998% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 85,499,808 shares of the stock with an approximate value of $10.4 billion in NKE stocks shares; and STATE STREET CORP, currently with $6.7 billion in NKE stock with ownership of nearly -0.334% of the company’s market capitalization.

Positions in NIKE Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 1,168 institutional holders increased their position in NIKE Inc. [NYSE:NKE] by around 54,456,345 shares. Additionally, 1,063 investors decreased positions by around 60,985,809 shares, while 238 investors held positions by with 883,757,637 shares. The mentioned changes placed institutional holdings at 999,199,791 shares, according to the latest SEC report filing. NKE stock had 340 new institutional investments in for a total of 8,365,133 shares, while 132 institutional investors sold positions of 15,065,168 shares during the same period.


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