5 Trending Stocks on Tuesday

2. NIKE, Inc. (NYSE:NKE)

Number of Hedge Fund Holders: 72

Shares of NIKE, Inc. (NYSE:NKE) slid over three percent in mid-day trading Tuesday after Barclays lowered its ratings for the Oregon-based sportswear company from “Overweight” to “Equal Weight.”

Analyst Adrienne Yih was moved by margin pressure, excess inventory and weak demand. She also pointed towards a slower-than-expected recovery in China. Yih lowered her price target for NIKE, Inc. (NYSE:NKE) from $125 per share to $110 per share.

The latest downgrade came just ahead of the company’s Q1 earnings. NIKE, Inc. (NYSE:NKE) is scheduled to release its quarterly results next week. Yih thinks the company would likely meet expectations for the quarter.