NEW YORK (TheStreet) -- Nike (NKE) - Get NIKE, Inc. (NKE) Report stock is further rallying 5.07% to $132.16 in morning trading, after announcing after yesterday's close a $12 billion share repurchase program and a two-for-one split of its class A and class B shares.

"This company is not acknowledged enough for being so brilliant," TheStreet's Jim Cramer said on CNBC's Squawk on the Street this morning. "You're talking about the best."

He added that Michael Mcnamara, CEO of manufacturing company FLEX, said on Mad Money last night that his company has partnered with Nike to innovate future products.

Just as Starbucks is often considered a technology company that's in the coffee business, Cramer thinks Nike could be considered a technology company that's in the shoe business.

Additionally, Cramer noted that the Chinese might not be buying as much iron ore, tin and nickel, but they're still "taking in Nike like mad."

"It deserves all the accolades, and it just keeps making money for shareholders," Cramer said.

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He added that his daughter lives in Oregon, which he thinks should be renamed to "Nike" in a tribute to the Beaver, OR-based sportswear maker.

Separately, TheStreet Ratings team rates NIKE INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:

We rate NIKE INC (NKE) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company shows weak operating cash flow.

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • Investors have apparently begun to recognize positive factors similar to those we have mentioned in this report, including earnings growth. This has helped drive up the company's shares by a sharp 31.48% over the past year, a rise that has exceeded that of the S&P 500 Index. Regarding the stock's future course, although almost any stock can fall in a broad market decline, NKE should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • NIKE INC has improved earnings per share by 22.9% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, NIKE INC increased its bottom line by earning $3.70 versus $2.98 in the prior year. This year, the market expects an improvement in earnings ($4.31 versus $3.70).
  • The net income growth from the same quarter one year ago has greatly exceeded that of the S&P 500, but is less than that of the Textiles, Apparel & Luxury Goods industry average. The net income increased by 22.6% when compared to the same quarter one year prior, going from $962.00 million to $1,179.00 million.
  • NKE's revenue growth trails the industry average of 15.6%. Since the same quarter one year prior, revenues slightly increased by 5.4%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • NKE's debt-to-equity ratio is very low at 0.09 and is currently below that of the industry average, implying that there has been very successful management of debt levels. To add to this, NKE has a quick ratio of 1.69, which demonstrates the ability of the company to cover short-term liquidity needs.
  • You can view the full analysis from the report here: NKE

Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.