Nike Inc. (NYSE:NKE) saw a downside of -0.28% to close Monday at $90.60 after subtracting -$0.25 on the day. The 5-day average trading volume is 9,041,899 shares of the company’s common stock. It has gained $95.49 in the past week and touched a new high 1 time within the past 5 days. An average of 7,638,200 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 7,096,060.
NKE’s 1-month performance is -7.20% or -$8.24 on its low of $89.79 reached on 09/25/23. The company’s shares have touched a 52-week low of $82.22 and high of $131.31, with the stock’s rally to the 52-week high happening on 02/02/23. YTD, NKE has lost -22.57% or -$26.41 and has reached a new high 10 times. However, the current price is down -31.00% from the 52-week high price.
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Insider Transactions
NKE stock investors last saw insider trading activity on Aug 08.Matheson Monique S. (EVP: CHRO) most recently sold 40,000 shares at $108.59 per share on Aug 08. This transaction cost the insider $4,343,678. EVP: CFO, Friend Matthew, sold 5,545 shares at a price of $107.00 on Aug 03. Then, on Aug 03, VP: CORP CONTROLLER Nielsen Johanna sold 1,706 shares at a price of $107.00 per share. This transaction amounted to $182,542.
Valuation Metrics
NKE stock has a beta of 1.14. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.71 while the price-to-book (PB) in the most recent quarter is 9.91, with the price to cash flow ratio at 28.45.
Nike Inc.’s quick ratio for the period ended May 30 was 1.81, with the current ratio over the same period at 2.72. As well, the company’s long term debt to equity for the quarter ending May 30 was 0.84, while the total debt to equity was 0.87. In terms of profitability, the gross margin trailing 12 months is 42.36%. The trailing 12-month EBITDA margin is 11.75% while for the period ending May 30, Nike Inc.’s operating margin was 10.38%. The firm’s gross profit as reported stood at $22.29 billion against revenue of $51.22 billion.
Earnings Surprise
For the quarterly period ending May 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -39.57% to $1.03 billion, while revenue of $1.24 billion was -20.27% off the previous quarter. Analysts expected NKE to announce $0.67 per share in earnings in its latest quarter, but it posted $0.66, representing a -1.50% surprise. EBITDA for the quarter stood at more than $1.46 billion. NKE stock balance sheet for the quarter ending May 30 shows that total liabilities totaled 23.53 billion, with total debt at $12.14 billion. Shareholders hold equity totaling $1.53 billion.
Let’s look briefly at Nike Inc. (NKE) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 25 September was 14.37% to suggest the stock is trending oversold, with historical volatility in this time period at 13.48%.
The stock’s 5-day moving average is $92.34, reflecting a -5.14% or -$4.91 change from its current price. NKE is currently trading -8.34% above its 20-day SMA, -28.81% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -16.07% and SMA200 by-16.06%.
Stochastic %K and %D was 3.76% and 2.54% and the average true range (ATR) pointed at 1.65. The RSI (14) points at 20.23%, while the 14-day stochastic is at 7.70% with the period’s ATR at 1.74. The stock’s 9-day MACD Oscillator is pointing at -3.07 and -4.39 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Nike Inc. (NYSE: NKE), Jefferies downgraded it to a Hold rating. They previously had a Buy rating on the stock. Analysts offering their rating for NKE stock have a consensus rating for the stock as Overweight. Currently, 3 brokerage advisors rate NKE as a “sell,”, while 9 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 6 rates the stock as overweight while 16 have offered a “buy” rating.
What is NKE’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $88.00 and a high of $151.87, with their median price target at $125.00. Looking at these predictions, the average price target given by analysts is for Nike Inc. (NKE) stock is $123.14.
