NIKE Inc. [NKE] Stock Gets Reiterated At Guggenheim. It’s Still a Buy

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Guggenheim maintained its NIKE Inc. [NYSE:NKE]‎ rating to the equivalent of Buy with a price target ‎‎$165, in a research note dated December 30, 2020. That figure represents around a ‎‎16.55% ‎premium ‎from where the company’s shares closed on Tuesday.‎ Other ‎analysts also revised ‎their coverage, with Telsey Advisory Group’s analysts reiterating the shares to ‎‎”an Outperform” rating ‎in a research note to investors issued in late December. Meanwhile, KeyBanc ‎Capital Markets had ‎launched its coverage on NKE with “an Overweight”, in a research note produced ‎for clients December ‎‎11, 2020. In addition, there was a new coverage from RBC Capital Mkts on ‎November 12, 2020. The ‎research firm rated NKE “an Outperform”.

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Is ‎NIKE Inc. [NYSE:NKE] a Good Buy Right Now?

It should be noted that NKE technical ‎indicators for ‎short, intermediate as well as long term progress have placed an overall average of 100% ‎as Buy. The ‎average signal changed from 100% Buy in the last week and compares with 100% Buy in the ‎past ‎month. Data from NIKE Inc.’s Trend Spotter indicated that the signals were Weakest. The stock ‎current ‎average is 6.27 million shares in the past 20 days and the short term average signal indicates a ‎‎100% ‎Buy. In the last 50 days, the average trading volume was 5.7 million shares while the medium ‎term ‎average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-‎day ‎average volume stands at 6.33 million shares.‎‎


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NKE Price Performance

On Wall Street, NIKE Inc. [NYSE:NKE] finished Tuesday’s ‎session ‎down -0.60% at $141.57. The stock went up to $143.06 at the same session while its lowest ‎single day ‎price was $140.43. In the last five days, it saw a fall of about -1.70%, NIKE Inc. shares gained ‎by almost ‎‎39.74% since the beginning of the year. However, the share price has dropped to as low as -‎‎4.31% ‎below its one year high. On 12/21/20, the company shares recorded $147.95, the highest single-‎day ‎price it has got to in the last 52-weeks and a 52-week low was seen on 03/18/20, the same year ‎at ‎‎$60.00. The company’s shares have inclined by 40.45% in the past year. The 50-day SMA achieved ‎is ‎‎$133.07 while the 200-day SMA is $108.54. Volume dropped to 3.23 million from 4.08 million in ‎the ‎previous session.‎‎

NIKE Inc. [NKE] Valuation Measures

Notably, NIKE Inc. [NKE] stock cannot be classified as ‎a ‎good candidate in the listing of underestimated low-priced Footwear & Accessories companies ‎to ‎purchase soonest possible with the prevailing 12-month PE ratio of 80.71. The measure means ‎the ‎stock is exchanging at a premium as compared to the 18.67x trailing earnings of the industry. It can ‎be ‎helpful for investors to consider historical price-sales ratio, more specifically, a 5.82 PS value ratio ‎is ‎reported for the last one year of reported earnings. That is higher than the industry average of ‎‎0.73 ‎which means NKE serve an unattractive investment opportunity compared to its competitors.‎‎

NKE Stock Support And Resistance Levels

On the 24-hour scale, the immediate backing ‎is ‎perceived around 140.31 level, and in case of violation of this particular level, it will cause more drop ‎to ‎‎139.06 level. On the upper level, 144.32 is still the key resistance. The stock may increase to ‎the ‎subsequent resistance at 142.94. The Relative Strength Index (RSI) pinned on the 14-day chart is ‎‎60.41, ‎implying a neutral technical stance while the MACD stands at 1.91, meaning price will increase in ‎the ‎next trading period. Percent R indicator moved to 54.30%, implying low price movement. ‎Stochastic %K ‎at 48.23% suggest selling the stock.‎‎

What is the short interest in NIKE Inc.?

Short interest in the NIKE Inc. stock has ‎surged, ‎increasing by 0.36 million shares to total 13.76 million shares on Dec 14, 2020. The interest had ‎seen ‎shares on Nov 12, 2020 stand at 14.12 million, data from Yahoo Finance shows. The decrease of -‎‎2.62% ‎suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ‎ratio) ‎moved to while the shorted shares account for just 1.44% of the overall float for the stock.‎‎

NIKE Inc.’s Biggest Shareholders: Who Owns NIKE Inc. [NKE]?

Filings by The ‎Vanguard ‎Group, Inc. showed that the firm now holds a total of 98,565,170 shares or roughly 7.86% of ‎the ‎outstanding NKE shares. This means their shares have reduced by -589,362 from the 98,565,170 ‎the ‎investor reportedly held in its prior 13-F filing. With the conclusion of the sale, BlackRock Fund ‎Advisors ‎updated stake is worth $8,477,475,159. Details in the latest 13F filings reveal that SSgA ‎Funds ‎Management, Inc. disposed off their -0.63% stake valued at $7,922,209,027 while Fidelity ‎Management ‎& Research Co added theirs at $3,823,012,431. During the last quarter, SSgA Funds ‎Management, Inc. ‎liquidated -375,509 of its shares in NIKE Inc. while Fidelity Management & Research ‎Co bought ‎‎1,275,388 shares. The T. Rowe Price Associates, Inc.’s holdings currently number 24,831,927 ‎shares at ‎‎$3515455905.39. According to the firm’s last 13F report, Wellington Management Co. LLP ‎shares in the ‎company at filing stood at 21,250,309 shares, roughly $2,862,416,622.‎‎

NKE Earnings Forecast For The Current Quarter

NIKE Inc. [NKE] is expected to report ‎strong ‎earnings results for the quarter ending on Feb 2021. Consensus estimates give the company ‎expected ‎revenues of $11.03B and an earnings per share of $0.75 for Feb 2021. Looking further ahead, ‎the ‎company is expected to report revenue of $10.26B at an EPS of $0.52 for May 2021. The ‎estimates ‎represent upside of 11.00% and 28.11% in the company’s revenue and earnings per ‎share, ‎respectively, on a year-on-year basis.‎‎

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NKE Earnings Estimates For The Current ‎Year

For the ‎financial year, NIKE Inc. [NYSE:NKE] is expected to bring in revenue of $43.21B. The ‎returns are nearly ‎‎$5.81 billion higher than the company’s actual revenue recorded in the fiscal year ‎‎2020. In terms of EPS ‎for the 2021, estimate put it at 3.01, higher than that of FY20 by $1.41. Estimates ‎put this year’s ‎earnings growth at 88.10%, 28.20% for the next, and at an annual 34.30% over the next ‎‎5-year period. ‎As for sales, forecasts are for an increase of 15.50% in the current fiscal year and a ‎further 11.00% over ‎the following year.‎

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