Under Armour (NYSE:UAA) Downgraded by JPMorgan Chase & Co. to "Underweight"

JPMorgan Chase & Co. downgraded shares of Under Armour (NYSE:UAA - Free Report) from a neutral rating to an underweight rating in a research report sent to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has $6.00 target price on the stock, down from their previous target price of $8.00.

Other equities research analysts have also issued research reports about the company. Citigroup reduced their target price on Under Armour from $8.00 to $7.00 and set a neutral rating on the stock in a research note on Tuesday, May 7th. TheStreet upgraded Under Armour from a d+ rating to a c- rating in a report on Thursday, February 8th. Williams Trading reiterated a hold rating and issued a $8.00 price target on shares of Under Armour in a report on Thursday, March 14th. Wells Fargo & Company cut their price target on Under Armour from $8.00 to $7.00 and set an equal weight rating for the company in a report on Thursday, April 25th. Finally, Evercore ISI reiterated an underperform rating and issued a $7.00 price target (down from $8.00) on shares of Under Armour in a report on Thursday, March 14th. Two analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $7.44.

Under Armour Price Performance

UAA stock traded down $0.08 on Thursday, reaching $6.72. The company had a trading volume of 41,353,043 shares, compared to its average volume of 7,154,048. Under Armour has a 1 year low of $6.18 and a 1 year high of $9.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.38 and a current ratio of 2.13. The company's fifty day moving average is $7.00 and its 200 day moving average is $7.71. The company has a market cap of $2.93 billion, a P/E ratio of 7.47, a PEG ratio of 1.16 and a beta of 1.63.

Institutional Trading of Under Armour

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in Under Armour by 29.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,154,871 shares of the company's stock valued at $62,893,000 after purchasing an additional 1,636,634 shares in the last quarter. Glenmede Trust Co. NA acquired a new stake in Under Armour in the 3rd quarter valued at $10,741,000. Charles Schwab Investment Management Inc. increased its holdings in Under Armour by 65.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,943,745 shares of the company's stock valued at $27,015,000 after purchasing an additional 1,555,856 shares in the last quarter. Vanguard Group Inc. increased its holdings in Under Armour by 7.5% in the 3rd quarter. Vanguard Group Inc. now owns 18,196,402 shares of the company's stock valued at $124,645,000 after purchasing an additional 1,269,037 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in Under Armour in the 1st quarter valued at $8,944,000. 34.58% of the stock is currently owned by institutional investors and hedge funds.

About Under Armour

Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes 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.