Manuel Henderson
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Joined: 27 Aug 2016
Posts: 1
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 Posted: 27 Aug 2016 04:13 Post subject: Nike Stock Slides on Ratings Downgrade |
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Shares of Nike were retreating in mid-morning
trading on Friday after B. Riley downgraded the stock to "neutral" from "buy."
The firm maintained a $62 price target on shares of the Beaverton, OR-based sportswear company,
and noted that the stock is currently trading within $5 of it.
B. Riley believes that attitude toward the stock has been misplaced, according to TheFly.
The company's sequential improvement in its basketball segment has been countered by weakness
within its running business, B. Riley noted.
Futures will likely be flat or down quarter-over-quarter when
Nike Shoes Online posts fiscal 2017 first-quarter
results next month, the firm said.
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B+.
Nike Air Max's strengths such as its revenue
growth, largely solid financial position with reasonable debt levels by most measures, notable
return on equity and expanding profit margins outweigh the fact that the company has had sub par
growth in net income.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return
prospect over a 12-month investment horizon. Not based on the news in any given day, the rating
may differ from Jim Cramer's view or that of this article's author.
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Nike Air Max
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