Athletic footwear and apparel maker Nike, Inc. ( NKE ) on Monday caught a downgrade from analysts at McAdams Wright Ragen.
The firm said it cut its rating on NKE from "Buy" to "Hold" but maintained its target $96 price target. That target suggests a small downside to the stock's Friday closing price of $96.25.
Nike shares, which have risen 12.7% year-to-date, were mostly flat in premarket trading Monday.
The Bottom Line
Shares of Nike ( NKE ) have a 1.50% dividend yield, based on Friday's closing stock price of $96.25. The stock has technical support in the $90 price area. The shares are trading near all-time highs and have little overhead resistance.
Nike, Inc. ( NKE ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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