Everyone has their favorite stocks and their favorite brands. The old Peter Lynch philosophy of “Buy what you know” had lead thousands of investors into everyday names. Do you own a Ford (F Quick QuoteF - Free Report) ? Shop at with Amazon (AMZN Quick QuoteAMZN - Free Report) ? Eat at McDonald’s (MCD Quick QuoteMCD - Free Report) ?

There are a whole lot of you, myself included, that have that famous “Swoosh” on your feet. But does that mean that now is the time to invest in Nike (NKE Quick QuoteNKE - Free Report) stock? If you go by the guidance of the Zacks Rank, you may want to hold off.

Today’s Bear of the Day is Nike (NKE Quick QuoteNKE - Free Report) . NIKE, Inc., together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. In addition, the company sells a line of performance equipment and accessories comprising bags, socks, sport balls, eyewear, timepieces, digital devices, bats, gloves, protective equipment, and other equipment for sports activities; and various plastic products to other manufacturers. Further, it provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks

Nike is not currently in the good graces of our Zacks Rank. The reason is, several analysts have recently cut their earnings estimates for the current year and next year. Over the last week alone, nine analysts have cut their earnings estimates for the current year while seven have done so for next year. The bearish sentiment has cut our Zacks Consensus Estimate for the current year down from $4.30 to $3.68 while next year’s number is off from $5.01 to $4.75.

The good news for long-term investors here is that next year the company is still forecast to grow earnings at 28.95%. That’s on forecast revenue growth of 12.79%. For longer-term investors, those are still a couple of monster growth numbers. The risk over the short-term is that these negative revisions make an undesired downside impact on the stock.