NIKE Stock Rating Upgraded Amid Ongoing Analyst Disagreements

Nike's stock rating has been upgraded by Zacks Research from 'strong sell' to 'hold'. The change was announced in a research note on Wednesday, following several other updates to Nike's ratings. Analysts at Argus had previously raised their rating to 'strong-buy', while Oppenheimer reduced their target price for the company.

In addition to upgrading its rating, Zacks Research also reported that analysts have been revising their price targets for Nike. The company's current average rating is 'hold' with a consensus price target of $53.53. Despite this upgrade, some analysts remain cautious, as seen in JPMorgan Chase & Co.'s downgrade from 'underweight' to 'neutral' and its new target price of $40.00.

Insiders have also been selling shares of Nike recently. In the last 90 days, insiders have sold over a quarter million dollars worth of stock, with some selling directly after purchasing under pre-arranged trading plans. Institutional investors have not lost confidence in the company, however, as seen by J. Stern & Co.'s significant increase in its holdings.