NEW YORK (TheStreet) -- Nike (NKE) - Get Report stock coverage was initiated with a "perform" rating at Oppenheimer on Tuesday.

The firm believes the company's dominant market share worldwide may be at risk as trends shift away from Nike's core performance focus and the marketplace becomes more fragmented, the Fly reports.

Additionally, shares of competitor Under Armour (UA) were under pressure this morning and weighed down other apparel stocks.

Under Armour stock was dropping 13.67% to $32.72 late this morning after the athletic apparel maker warned of slowing growth in upcoming quarters.

Shares of Nike were falling in late-morning trading today.

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Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on Nike stock.

The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, growth in earnings per share and good cash flow from operations.

The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

Recently, 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 articles's author.

You can view the full analysis from the report here: NKE

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