NKE - NIKE, Inc.

NYSE - NYSE Delayed Price. Currency in USD
83.31
+0.57 (+0.69%)
At close: 4:00PM EDT

83.35 +0.04 (0.05%)
After hours: 6:03PM EDT

Stock chart is not supported by your current browser
Previous Close82.74
Open83.00
Bid82.00 x 900
Ask83.77 x 1000
Day's Range82.50 - 83.72
52 Week Range66.53 - 90.00
Volume4,558,957
Avg. Volume6,371,454
Market Cap130.538B
Beta (3Y Monthly)1.10
PE Ratio (TTM)33.46
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield0.88 (1.06%)
Ex-Dividend Date2019-08-30
1y Target EstN/A
Trade prices are not sourced from all markets
  • Nike (NKE) Gains As Market Dips: What You Should Know
    Zacks

    Nike (NKE) Gains As Market Dips: What You Should Know

    Nike (NKE) closed at $83.31 in the latest trading session, marking a +0.69% move from the prior day.

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    How to Invest in Stocks for Beginners

    Roughly half of Americans don't have any money in the stock market -- if you're in that group, here's how you can get started now!

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    Day Ahead: Top 3 Things to Watch

    Investing.com - Here’s a preview of the top three things that could rock markets tomorrow.

  • Dow Jones Pares Gains As Stock Market Gains Fade; Nike Shows New Buy Point
    Investor's Business Daily

    Dow Jones Pares Gains As Stock Market Gains Fade; Nike Shows New Buy Point

    The major stock indexes reversed lower early Thursday. Dow Jones stock Nike is forming a new base in today's stock market.

  • Dow Jones Today: Boeing Leads, Retailers Rise; Keysight, Fly Leasing Near Buy Points
    Investor's Business Daily

    Dow Jones Today: Boeing Leads, Retailers Rise; Keysight, Fly Leasing Near Buy Points

    Dick's Sporting Goods and Nordstrom led retailers higher, and Boeing topped the Dow Jones today as attention turned toward Jackson Hole.

  • GuruFocus.com

    US Indexes Rebound to Close Higher Wednesday

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  • Dow Jones Today: Let’s Make a Deal
    InvestorPlace

    Dow Jones Today: Let’s Make a Deal

    Stocks rallied Wednesday after President Donald Trump implied he's open to making a deal with China on trade, but gains were capped by the release of minutes from the Federal Reserve's July meeting.Source: rafapress / Shutterstock.com Those minutes revealed that some of the central bank's governors pressed for a cut of 50 basis points last month, but they were obviously out-voted as the Fed proceeded with a reduction of just 25 basis points. What put a lid on today's upside for equities were comments that the July rate cut was not necessarily a precursor for more reductions."In their discussion of the outlook for monetary policy beyond this meeting, participants generally favored an approach in which policy would be guided by incoming information and its implications for the economic outlook and that avoided any appearance of following a pre-set course," according to the Federal Open Market Committee (FOMC).InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Marijuana Stocks to Ride High on the Farm Bill Currently, Fed funds futures are pricing in another 65 basis points of rate cuts this year, indicating there is room for markets to be left disappointed by the U.S. central bank.Still, the Nasdaq Composite notched an impressive gain of 0.90% today while the S&P 500 settled higher by 0.82%. The Dow Jones Industrial Average tacked on 0.93% amid broad-based strength in the blue-chip index. In late trading, 29 of the 30 Dow stocks were higher. Dow Winners GaloreWhile the Fed minutes may have lacked the punch investors were hoping for, there were some solid earnings reports (non-Dow stocks) out of the retail sector that gave market participants reason to be the oft-discussed recession is a long way from materializing. On that note, Nike (NYSE:NKE) was the Dow's best performer today with a gain of 2.83%.Sticking with consumer cyclical fare for a moment, McDonald's (NYSE:MCD) rose 2.25% after SunTrust analyst Jake Bartlett opined that the company's current Buy One, Get One (BOGO) for $1 promotion won't be a drag on profits. He's got a "buy" rating and $240 price target on McDonald's.The analyst's "research shows that McDonald's new offer is less promotional than its two for $5 mix-and-match deal that the company has cycled through in recent years--meaning McDonald's isn't meaningfully lowering the bar on prices in a way that would force rivals to discount as well," according to Barron's.I'm not saying it's all clear to wade into the energy sector, but it is encouraging to see more positive action out of oil giants Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX), both of which traded higher today on the back of some bullish analyst chatter.BMO analyst Daniel Boy said Exxon and Chevron, the two largest U.S. oil companies are the "lowest risk" names and best of breed in the energy patch. Specific to Chevron, that's the second time in a matter of days an analyst has been cheery on the company.Shares of Boeing (NYSE:BA), the Dow's largest component, added 2.49% today on news that the company is looking to fill hundreds of temporary jobs related to getting the 737 MAX passenger back in the air. Wall Street is hoping that will happen by the end of this year and if it does, Boeing shares likely move higher. DJIA Bottom LineIt's easy to get wrapped in the aforementioned Fed "disappointment," if it can really be called that. Additionally, it's easy (and warranted) to be skeptical of President Trump's comments on deals with China because recent history shows this situation is fluid.Maybe what investors should be honing in on is the likelihood of recession. Look at Target (NYSE:TGT) earnings. That stock surged over 20% today on volume that was nearly seven times the daily average because it guided higher. Companies like Target don't guide higher when recessions are right around the corner.Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Marijuana Stocks to Ride High on the Farm Bill * 8 Biotech Stocks to Watch After the Q2 Earnings Season * 7 Unusual, Growth-Oriented REITs to Buy for Your Portfolio The post Dow Jones Today: Let's Make a Deal appeared first on InvestorPlace.

  • MarketWatch

    Dow's 200-point climb highlighted by gains in shares of Boeing, Nike

    Buoyed by positive gains for shares of Boeing and Nike, the Dow Jones Industrial Average is trading up Wednesday afternoon. The Dow (DJIA) was most recently trading 200 points, or 0.8%, higher, as shares of Boeing (BA) and Nike (NKE) have contributed about 25% of the index's intraday rally. Boeing's shares have climbed $7.98, or 2.4%, while those of Nike have climbed $1.80, or 2.2%, combining for a roughly 66-point boost for the Dow.

  • MarketWatch

    Nike, IBM share gains contribute to Dow's 269-point rally

    DOW UPDATE The Dow Jones Industrial Average is rallying Wednesday morning with shares of Nike and IBM delivering strong returns for the blue-chip average. Shares of Nike (NKE) and IBM (IBM) are contributing to the blue-chip gauge's intraday rally, as the Dow (DJIA) is trading 269 points higher (1.

  • 3 Big Reasons to Buy the Dip in Nike Stock
    InvestorPlace

    3 Big Reasons to Buy the Dip in Nike Stock

    Athletic apparel giant Nike (NYSE:NKE) was having a great 2019 until recently. Back in mid-July, NKE stock was up roughly 20% year-to-date, largely in-line the S&P 500's 20% YTD gain. Unfortunately, escalating trade war tensions in August put a damper on Nike's good year. NKE stock has since dropped 10%. The S&P 500 is down just 3% over the same time frame.Source: TY Lim / Shutterstock.com Year to date, the S&P 500 is now up 16%, while Nike stock is up just 10%.In other words, thanks to U.S. President Donald Trump upping the trade war ante in early August with the threat of new tariffs on Chinese imports, Nike stock has gone from having a good year, to having a sub-par year.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Undervalued Stocks With Breakout Potential This recent weakness in NKE stock is overstated. It won't last, and it will be replaced by a strong end-of-year rally for three big reasons.First, the fundamentals supporting Nike remain exceptionally favorable, and pave a path for NKE stock to hit $100 over the next twelve months. Second, the optics surrounding Nike and the trade war are set to materially improve into the end of 2019. Third, the technicals imply that NKE stock is on the verge of a generational buying opportunity.As such, I'm bullish on NKE stock on this recent dip. This is a winning stock trading at an attractive discount, with huge catalysts on the horizon and a chart that says a big rebound is coming soon. Nike's Fundamentals Pave a Path Towards $100The biggest reason to buy NKE stock on this recent dip is because the fundamentals remain very strong, and pave a path for huge upside in NKE stock over the next twelve months.Nike is firing on all cylinders right now, which hasn't always been the case. Back in 2015, German athletic apparel maker Adidas (OTCMKTS:ADDYY) paired up with celebrity musician Kanye West to capitalize on the athleisure trend by blending culture with sports (the partnership actually started in 2012, but 2015 was when Adidas launched the first Kanye shoe). It was a genius move. From mid-2015 to mid-2018, Adidas rattled off a streak of twelve consecutive quarters of double-digit, constant currency revenue growth.This brilliant Adidas move had a negative impact on Nike. From 2015 to 2018, Nike's constant currency revenue growth rate slowed from 14% to 4%. But, recognizing that they were losing share to Adidas, Nike launched Consumer Direct Offense in 2017, which focused on streamlining investment dollars into trend-setting metro areas, doubling down on direct sales, and accelerating the innovation pipeline.Nike has since done all three of those things. And it has worked. Adidas' constant currency growth rate has decelerated to 4% in 2019. Nike's accelerated to 11%.In other words, Nike is back. Usually, these fashion trends last several years. Fiscal 2019 was really the first year of this Nike-first trend. Thus, it increasingly appears that Nike is in the first few innings of a new above-trend growth ramp.The athletic apparel market projects to grow at a 5%-7% rate into 2025/26. Nike should grow above that rate -- probably around 7%-8%. Gross margins should trend higher due to strong consumer demand. Opex rates should fall gradually with revenue scale.That paves a viable runway towards $6.75 in EPS by fiscal 2026. Based on historically average 25-times forward multiple, that equates to a 2025 price target of nearly $170. Discounted back by 10% per year, that implies a fiscal 2020 price target of roughly $105. Trade War Optics Will Materially Improve NKE StockThe second big reason to buy the dip in NKE stock is because trade war optics -- which have killed the stock in August -- will meaningfully improve into the end of the year.My theory here is pretty simple. President Trump is all about winning the 2020 election. He knows that his odds of winning that election are highest if the U.S. economy is firing on all cylinders ahead of the election, especially since he has tied his presidency's success to stock market highs and big GDP numbers. How does Trump get that "firing on all cylinders" economy ahead of the election? He needs low rates to juice the economy.That's why he has been so adamant about the Fed cutting rates. But, in late July, the Fed disappointed by cutting rates only 25 basis points and not sounding very dovish with respect to future rate cuts. The Fed did say, though, that the U.S.-China trade war is essentially the biggest risk to the U.S. economy. Who is behind that trade war? Trump. So, in theory, all Trump has to do to get the Fed to cut rates is temporarily accelerate the trade war.He did just that -- the very day after the Fed only cut rates by 25 basis points. That's not a coincidence. Trump doesn't want these tariffs to actually materialize and meaningfully damage the U.S. economy ahead of the 2020 election. He just wants the threat of them to create enough economic cross-currents to get the Fed to cut rates, at which point he will pull the tariff threats and reduce trade tensions.The result? An economy firing on all cylinders heading into the 2020 election, supported by reduced trade tensions and juiced by low rates.Given this framework, I think it is very likely that over the next few months, trade war optics improve dramatically. As they do, stocks that are at the epicenter of the trade war, like Nike stock, will bounce back in a big way. Technicals Imply We Are on the Cusp of a Generational Buying OpportunityThe third big reason to buy the dip in NKE stock is that the technicals imply that we are on the cusp of a generational buying opportunity in Nike stock. Click to EnlargeConsider the chart. Over the past decade, NKE stock has been on a solid uptrend with a very strong multi-year support line that has held three times before. After each successful "test-and-hold" of this multi-year support line, NKE stock proceeded to rally in a big way over the subsequent several years.NKE stock is on the verge of testing this support line again. If it does, history says that a successful test of the support line will precede a big multi-year rally in the stock. Bottom Line on NKE StockNike stock has been hit hard by the trade war over the past month. This recent weakness is creating a compelling buying opportunity into a high-quality stock supported by favorable fundamentals, optics, and technicals. As such, buying the trade war dip in NKE stock this month seems like the right move.As of this writing, Luke Lango was long NKE. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post 3 Big Reasons to Buy the Dip in Nike Stock appeared first on InvestorPlace.

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    Most Valuable Sports Business Brands Worldwide

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  • ESG Investing: Is Nike a Responsible Investment?
    Motley Fool

    ESG Investing: Is Nike a Responsible Investment?

    If you’re searching for a feel-good stock, see how Nike scores on The Motley Fool’s ESG framework.

  • Nike buys facility for proposed Goodyear plant
    American City Business Journals

    Nike buys facility for proposed Goodyear plant

    The apparel giant plans to retrofit the existing site into a $184.5 million factory for a proprietary part that goes into its popular Nike Air shoes.

  • Reuters

    Avenatti says he did nothing wrongful in Nike extortion case

    Michael Avenatti, the lawyer and critic of U.S. President Donald Trump, on Monday said he did nothing "wrongful" in dealing with Nike Inc, and asked a federal judge to dismiss the criminal extortion case against him. Avenatti, 48, made his request in Manhattan federal court five days after saying the government's case should also be dismissed because it was a "vindictive and selective prosecution" stemming from his "feud" with Trump. A spokesman for U.S. Attorney Geoffrey Berman, whose office is prosecuting Avenatti, declined to comment.

  • It’s Just a Matter of Time Before Canopy Growth’s Woes Hit Constellation
    InvestorPlace

    It’s Just a Matter of Time Before Canopy Growth’s Woes Hit Constellation

    Canopy Growth (NYSE:CGC) failed to meet lowered earnings estimates but its problems have yet to hit its biggest owner. Constellation Brands (NYSE:STZ) bought 38% of the Canada-based marijuana company last year. It has warrants for CGC stock that would give it majority control.Source: Shutterstock But while Canopy shares are down by 25% from the $34.20 level they held the day before earnings were announced, Constellation shares have barely budged. They're down just $1 or about 0.5% over the last two trading sessions.Canopy looked on the bright side of life when it reported August 14. Its sales of dried cannabis rose 94% year over year was the headline. But on his conference call CEO Mark Zekulin confirmed he's leaving Canopy once a replacement is found. That should happen in the next few months.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Constellation Doubles DownZekulin and his predecessor, Bruce Linton, invested heavily ahead of marijuana legalization, which has been moving slowly. They have also filed 56 patent applications, bought brands that can't be advertised, and sought international growth that doesn't exist.It was this optimism, and investment, that led Constellation to buy its first stake then double-down to its present 38% holding. It also bought those warrants that will, once exercised, give it majority control. Constellation's confidence helped fuel Canopy's rise.But the value of those warrants has been hit by the fall of Canopy shares. Constellation has gotten a delay in the exercise date, to up to eight years. This comes as Canopy has a deal buy Acreage Holdings (OTCMKTS:ACRGF) once the U.S. legalizes marijuana.Constellation, in other words, is tripling down on legal pot. Meanwhile, former CEO Linton, unceremoniously booted out last month as Canopy's co-CEO and board chair, told BNN Bloomberg he was a buyer of CGC stock after the shares fell on Aug. 15. * 10 Stocks Under $5 to Buy for Fall Until legalization, Constellation is sitting on warrants it can't exercise, an investment it can't get value from, and growth it can't access. Despite this, Constellation shares are up 21%, more than the general market in 2019. It's helped by continuing strong sales of Mexican beer brands like Corona and Modelo, and liquor brands like Svedka. Constellation is also selling 30 low-cost wine brands to E.J. Gallo for $1.7 billion, a little more than its original $3 billion asking price.The result is a company that's leveraged toward high-end brands of beer, wine and spirits, anticipating a windfall when its marijuana train comes in. Almost two-thirds of the analysts following Constellation rate it a buy. Risk? What Risk?Constellation stock is helped by first-quarter earnings that beat estimates. It earned $2.21 per share, when only $2.07 was expected.Even better numbers are anticipated for the current quarter, to be reported Sept. 27. Constellation is expected to deliver $2.63 per share of earnings on revenue of $2.3 billion.Canopy, meanwhile, is expected to see a loss of 26 cents per share when it reports next in November. Canopy's recent quarter sales of $90.5 million are just a blip on Constellation's $2.1 billion revenue figute last quarter."If you look at the speed of growth and the complexity of market regulations, the key is finding the right experience and the right person, and I think there are a number of sector backgrounds that could work well," Zekulin told BNN Bloomberg. * 10 Best Dividend Stocks to Buy for the Rest of 2019 and Beyond Constellation is certain to have a hand in choosing Zekulin's successor. Whomever it is, they are expected to bring stability to the company, as our Will Ashworth has written.So far, however, only superstars at companies like Nike (NYSE:NKE), Williams-Sonoma (NYSE:WSM) and Starbucks (NASDAQ:SBUX) are in the rumor mill. It's like a mid-major college football team that's only considering big-time head coaches for its program. Nick Saban is not walking through that door, and whoever does walk in is bound to be a disappointment. Bottom Line on Canopy Growth StockWhile the problems at Canopy Growth have yet to impact Constellation stock, I think it's only a matter of time before they do.While generations of Americans may be happy not to see their friends hauled off to jail for smoking weed, it takes time to build a scaled, legal marketplace. Canopy underestimated that time. So has Constellation Brands.Dana Blankenhorn is a financial and technology journalist. He is the author of the mystery thriller, The Reluctant Detective Finds Her Family, available at the Amazon Kindle store. Write him at danablankenhorn@gmail.com or follow him on Twitter at @danablankenhorn. As of this writing he owned no shares in companies mentioned in this article. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post It's Just a Matter of Time Before Canopy Growth's Woes Hit Constellation appeared first on InvestorPlace.

  • Nike expands pregnancy benefit for sponsored athletes
    American City Business Journals

    Nike expands pregnancy benefit for sponsored athletes

    The sportswear company will waive performance reductions for pregnant athletes for 18 months, six months longer than previously announced.

  • Dow Jones Today: A Fantastic Friday
    InvestorPlace

    Dow Jones Today: A Fantastic Friday

    Despite more speculation that recession clouds are gathering, stocks cobbled together impressive gains to close another wild week. I mentioned earlier this week that some of the more important European economies, including Germany, are on the cusp of economic contractions and that are likely to spur the European Central Bank (ECB) into action.That was one catalyst for today's rally: talk that the ECB won't be sitting on the sidelines much longer and will attempt something with monetary policy aimed at perking up the region's sagging economies.Here in the U.S., it still seems like a stretch to say that a recession is imminent, but the University of Michigan Consumer Sentiment Index reading out today could be cause for concern for fans of President Donald Trump. That survey indicates independent and republican voters are growing concerned about the economy and could be apt to rein in spending. That data point was revealed just a day after the president spoke glowingly about the economy and the strength of the American consumer.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Cheap Dividend Stocks to Load Up On Even with all the recession chatter, the Nasdaq Composite rallied 1.67% while the S&P 500 climbed 1.44%. The Dow Jones Industrial Average closed the week with a gain of 1.20%. Fun fact, at least for day traders or those that like volatility: the S&P 500 has had intraday moves of at least 1% for nearly three straight trading weeks. Tariff TalkThese days, it's almost possible to discuss stocks, particularly many of the Dow members, with talking about tariffs. Plenty of stocks are more tariff-sensitive than others, and JPMorgan was talking about a few of those names today.Remember that while President Trump backed off some of the tariffs on Chinese goods set to go into effect on Sept. 1, he did not back off all of those levies. And the ones not going into effect next month were not eliminated. Those were merely delayed until mid-December.As for companies likely to be affected by the Sept.1 tariffs, those names include Dow components Dow (NYSE:DOW) and Caterpillar (NYSE:CAT). Somehow, Dow, the chemicals maker, was the second-best performer in the Dow today while industrial machinery maker Caterpillar was a solid gainer as well, adding 0.97%.Regarding Dow members that could be pinched by the December tariffs, assuming those penalties go into effect, JPMorgan includes Apple (NASDAQ:AAPL) and Nike (NYSE:NKE) on that list. However, both stocks closed higher today.The Home Depot (NYSE:HD) has been receiving elevated trade-related mentions, according to JPMorgan. Still, Home Depot is a heavily domestic company and the shares added 0.92% today ahead of next Tuesday's earnings report. Bad Bank Stocks on the DowEach of the Dow's financial services components, including JPMorgan Chase (NYSE:JPM), the largest U.S. bank, closed higher today. I mention this because, yes, banks are being drilled by declining net interest margin expectations at the hands of lower interest rates, but also because recent price action in the sector confirms investors can be confounded by analyst chatter.Just last week, a Wells Fargo analyst said valuations on bank stocks are attractive, but today the same analyst said "there is no way to sugar coat the negative impact of lower interest rates" on banks' net interest margins and per share earnings.As I pointed out a couple of times during financial services earnings season, the net interest margin issued was raised on a slew of bank earnings calls and at this point, should be baked into these stocks. Dow Jones Bottom LineWith all the aforementioned recession chatter swirling, the good news is that the Federal Reserve will not take that talk lightly and it is becoming increasingly likely that there could be another two rate cuts before the end of this year.While that may be good news, the risk is that with rates already so low by historical standards, the effectiveness of more rate reductions may not be up to investors' current expectations. Time will tell on that front, but the near-term path of least resistance would be for trade wars to cease.Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post Dow Jones Today: A Fantastic Friday appeared first on InvestorPlace.

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    Nike Launches a Subscription Shoe Service for Kids

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  • Why It’s Time to Buy the Dip of Under Armour Stock
    InvestorPlace

    Why It’s Time to Buy the Dip of Under Armour Stock

    When it comes to Under Armour (NYSE:UAA) stock, I've loved to play the contrarian for some time. And being contrarian on UAA stock has been immensely profitable over the past year.Back in November 2018, UAA stock was flying high at $24 after the athletic apparel brand reported third- quarter numbers which easily beat average expectations. I warned that the pop was unsustainable and that the bearish thesis actually looked pretty good. By December 2018, after Under Armour had a bad Investor Day and amid a broader market selloff, UAA stock had dropped to below $17.I recommended that investors buy the dip of UAA stock. Within a month, Under Armour stock had rebounded by more than 20%, at which point I advised investors to sell Under Armour stock. UAA stock continued to rally well after that, all the way to $28, and I kept insisting that the rally was unsustainable.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn late July, Under Armour reported underwhelming numbers. Ever since, UAA stock has fallen off a cliff. Today, the stock trades hands at $18, roughly where it was in late 2018. * 10 Cheap Dividend Stocks to Load Up On Now it's time to buy the dip of Under Armour stock again. Here's why. Under Armour Stock Is Too CheapThere are three main reasons why it's time to buy the dip of UAA stock again. The first reason is that the stock is now way too cheap.My core thesis on Under Armour is pretty simple.: UAA is the wrong company in the right space. Under Armour is the wrong company because it hasn't innovated or adapted to trends . Namely, the athletic apparel market has pivoted from performance apparel to lifestyle clothes.Under Armour hasn't made that pivot, and as a result, it continues to launch products that - while good - aren't as relevant as the new lifestyle products from Nike (NYSE:NKE), Lululemon (NASDAQ:LULU), and Adidas (OTCMKTS:ADDYY). That's why Under Armour has continued to grow at a much slower pace than those peers (in Q2, for example, UAA's constant currency revenue growth was just 3%).Nonetheless, the athletic apparel space is the right space to be in now. Consumers increasingly want to live active and healthy lifestyles and look like they do so. This is creating a rising tide that's lifting all boats in the athletic apparel space, even the ugliest boats like Under Armour. That's why Under Armour's revenue has continued to grow, despite the company's lack of product innovation.This dynamic will persist. Going forward, Under Armour's top line looks poised to rise about 5% annually , with healthy margin drivers through continued gross margin expansion and positive operating leverage. I've said time and time again that UAA's earnings per share should reach $1,50 by fiscal 2025. Based on Nike's average forward price- earnings multiple of 25, UAA stock should reach $37.50 in 2024. Discounted back by 10% per year, that equates to a 2019 price target for UAA stock of about $23.Thus, in late July, UAA stock was way overvalued. Now it's way undervalued. The Optics Will ImproveThe second reason to buy the dip of Under Armour stock is that it will look more attractive over the next few months.A big driver behind the recent selloff of Under Armour stock is President Donald Trump's threat to impose tariffs on more Chinese imports. Ostensibly, that's a bad thing for all athletic-apparel companies, since a bunch of athletic-apparel products are made in China. As a result, investors have indiscriminately sold athletic-apparel stocks over the past two weeks.But Under Armour's China exposure isn't huge (only 10% of its products are made in China ). Further, a big chunk of these tariffs have already been delayed , yet another sign that Trump doesn't actually want the trade war to escalate that much and is just doing some chest-puffing with the tariffs he's already announced.All these trade-war fears will likely cool over the next several months as they have always done after trade-war flare-ups under Trump. This cooling will provide a lift for UAA stock. The Stock Is OversoldThe third reason to buy the dip of Under Armour stock is that the stock is technically way oversold, and is due for a bounce-back.The Relative Strength Index of UAA stock has dropped to 20, well into oversold territory. The last time the RSI of UAA stock was this low was back in late 2018. Under Armour stock proceeded to bottom in late 2018 and rally by more than 20% over the next month.A similar dynamic could play out this time around. Consequently, the technicals are saying that UAA stock is near a bottom and on the verge of a nice bounce-back rally. The Bottom Line on UAA StockUnder Armour is the wrong company in the right space., so Under Armour stock will not be a long term winner. Instead, it's a "buy the dip, fade the rally" stock. Right now, UAA stock is in the middle of its biggest selloff in recent memory, meaning that it's time to start thinking about buying the shares on weakness.As of this writing, Luke Lango was long UAA, NKE, and LULU. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post Why It's Time to Buy the Dip of Under Armour Stock appeared first on InvestorPlace.

  • Nike (NKE) Stock Sinks As Market Gains: What You Should Know
    Zacks

    Nike (NKE) Stock Sinks As Market Gains: What You Should Know

    In the latest trading session, Nike (NKE) closed at $79.51, marking a -1.88% move from the previous day.

  • Don’t Catch Falling Knives: The JCPenney Story
    Motley Fool

    Don’t Catch Falling Knives: The JCPenney Story

    The retailer may well be too far gone to save, and its ill-defined turnaround plan won’t change that.

  • Reuters

    UPDATE 2-Lawyer Avenatti seeks to end 'vindictive' Nike prosecution he blames on Trump feud

    Lawyer Michael Avenatti asked a federal judge to dismiss an indictment accusing him of trying to extort Nike Inc, saying he was targeted in a "vindictive and selective prosecution" because of his feud with U.S. President Donald Trump. In a Wednesday night court filing, Avenatti blamed the office of U.S. Attorney Geoffrey Berman in Manhattan for having "eschewed the typically careful and thoughtful fact-gathering investigation on which it historically prides itself" in its "zest to nab" him. Avenatti also said Trump and his family "have demonstrated genuine animus" toward him and that it was clear he would not have been prosecuted if not for that animus.

  • Five Highest-Paid Soccer Players
    Investopedia

    Five Highest-Paid Soccer Players

    Take a look at some of the world's highest-paid soccer players and see how they compare with one another.