Under Armour (NYSE:UAA) Cut to Hold at Argus

Under Armour (NYSE:UAA) was downgraded by equities researchers at Argus from a “buy” rating to a “hold” rating in a report released on Thursday, Marketbeat reports.

Several other equities research analysts have also recently weighed in on UAA. TD Cowen increased their target price on Under Armour from $10.00 to $11.00 and gave the company a “hold” rating in a report on Friday, December 13th. Wells Fargo & Company increased their price objective on Under Armour from $8.00 to $11.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Morgan Stanley reiterated an “underweight” rating and set a $4.00 price target on shares of Under Armour in a report on Friday, December 13th. UBS Group raised their price target on shares of Under Armour from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $10.00 price objective on shares of Under Armour in a research note on Friday, December 13th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Under Armour presently has an average rating of “Hold” and an average price target of $9.28.

Under Armour Stock Performance

Under Armour stock opened at $8.19 on Thursday. The firm has a fifty day simple moving average of $9.04 and a two-hundred day simple moving average of $8.29. The company has a quick ratio of 1.24, a current ratio of 2.18 and a debt-to-equity ratio of 0.30. Under Armour has a twelve month low of $6.17 and a twelve month high of $11.89. The company has a market capitalization of $3.54 billion, a PE ratio of -272.74 and a beta of 1.70.

Insiders Place Their Bets

In related news, CFO David Bergman sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $9.09, for a total value of $272,700.00. Following the sale, the chief financial officer now owns 494,210 shares in the company, valued at $4,492,368.90. This represents a 5.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mehri Shadman sold 9,639 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $8.81, for a total value of $84,919.59. Following the transaction, the insider now directly owns 172,899 shares of the company’s stock, valued at approximately $1,523,240.19. This trade represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,879 shares of company stock worth $508,642. 15.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Under Armour

A number of institutional investors have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. boosted its stake in Under Armour by 163.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,900 shares of the company’s stock worth $26,000 after purchasing an additional 1,800 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Under Armour in the third quarter worth approximately $56,000. CWM LLC grew its holdings in shares of Under Armour by 20.7% during the third quarter. CWM LLC now owns 8,211 shares of the company’s stock valued at $73,000 after buying an additional 1,409 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Under Armour by 63.2% during the fourth quarter. Versant Capital Management Inc now owns 10,037 shares of the company’s stock valued at $83,000 after acquiring an additional 3,885 shares in the last quarter. Finally, City State Bank lifted its position in Under Armour by 292.6% in the 3rd quarter. City State Bank now owns 10,063 shares of the company’s stock valued at $90,000 after acquiring an additional 7,500 shares in the last quarter. 34.58% of the stock is owned by hedge funds and other institutional investors.

About Under Armour

Under Armour, Inc, together with its subsidiaries, engages developing, marketing, and distributing performance apparel, footwear, and accessories for men, women, and youth. The company provides its apparel in compression, fitted, and loose fit types. It also offers footwear products for running, training, basketball, cleated sports, recovery, and outdoor applications.