Under Armour (NYSE:UAA) Stock Falls 4.6% - Here's What Happened

Key Points

• Under Armour shares fell 4.6% in Wednesday mid-day trading, closing near $4.93 versus the prior close of $5.16; trading volume was 88% below average.
• Analyst views remain mixed, with a consensus “Hold” rating and average price target of $5.80. UBS maintained a Buy rating but cut its target from $9 to $8.

Under Armour, Inc. (NYSE:UAA - Get Free Report)'s stock price was down 4.6% during mid-day trading on Wednesday. The company traded as low as $4.92 and last traded at $4.9250. Approximately 1,126,263 shares changed hands during trading, a decline of 88% from the average session volume of 9,470,699 shares. The stock had previously closed at $5.16.

Analyst Upgrades and Downgrades

UAA has been the topic of a number of recent research reports. UBS Group reissued a "buy" rating and set a $8.00 price objective (down from $9.00) on shares of Under Armour in a report on Wednesday, October 28th. Weiss Ratings reiterated a "sell (d)" rating on shares of Under Armour in a research report on Wednesday, November 4th. Morgan Stanley set a $4.00 price target on Under Armour and gave the company an "equal weight" rating in a research report on Thursday, September 10th. Barclays downgraded shares of Under Armour from an "equal weight" rating to an "underweight" rating and set a $5.00 price target on the stock. in a report on Tuesday, August 11th. Finally, Truist Financial raised their price target on shares of Under Armour from $5.00 to $6.00 and gave the company a "hold" rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Under Armour currently has a consensus rating of "Hold" and an average target price of $5.80.

Under Armour Trading Down 2.2%

The stock has a market cap of $2.17 billion, a PE ratio of -4.54, a PEG ratio of 2.12 and a beta of 1.58. The company has a current ratio of 1.95, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. The firm has a fifty day simple moving average of $4.90 and a two-hundred day simple moving average of $5.92.

Hedge Funds Weigh In On Under Armour

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Fulcrum Asset Management LLP bought a new stake in shares of Under Armour during the 3rd quarter worth $26,000. Versant Capital Management Inc raised its position in Under Armour by 94.1% during the third quarter. Versant Capital Management Inc now owns 6,155 shares of the company's stock valued at $27,000 after purchasing an additional 2,984 shares in the last quarter. Farther Finance Advisors LLC raised its position in Under Armour by 134.5% during the third quarter. Farther Finance Advisors LLC now owns 7,061 shares of the company's stock valued at $31,000 after purchasing an additional 4,050 shares in the last quarter. Fortitude Family Office LLC raised its position in Under Armour by 2,744.0% during the third quarter. Fortitude Family Office LLC now owns 7,821 shares of the company's stock valued at $35,000 after purchasing an additional 7,546 shares in the last quarter. Finally, Csenge Advisory Group bought a new stake in Under Armour during the third quarter worth about $45,000. Hedge funds and other institutional investors own 34.58% of the company's stock.

Under Armour Company Profile

Under Armour, Inc. develops, markets and sells performance apparel, footwear and accessories. Its products are designed for athletic training, competition and everyday use, and include technical apparel, running and training shoes, sports accessories and connected fitness offerings. Founded in 1996 by Kevin Plank, the company built its early business around moisture-wicking performance apparel. Under Armour sells products through wholesale partners and its own direct-to-consumer channels, including retail stores and e-commerce.

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