Under Armour’s (UAA) Underweight Rating Reiterated at Morgan Stanley

Morgan Stanley reissued their underweight rating on shares of Under Armour (NYSE:UAA) in a research note issued to investors on Friday,Benzinga reports. The firm currently has a $4.00 target price on the stock.

A number of other research analysts also recently issued reports on UAA. Argus upgraded shares of Under Armour to a “strong-buy” rating in a research report on Thursday, August 15th. Truist Financial boosted their price objective on Under Armour from $8.00 to $11.00 and gave the company a “hold” rating in a report on Friday, November 8th. UBS Group raised their target price on Under Armour from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Robert W. Baird boosted their price target on Under Armour from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company raised their price objective on shares of Under Armour from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.34.

Under Armour Stock Performance

UAA opened at $8.81 on Friday. The company has a current ratio of 2.18, a quick ratio of 1.24 and a debt-to-equity ratio of 0.30. Under Armour has a 12-month low of $6.17 and a 12-month high of $11.89. The firm has a 50 day moving average of $9.34 and a two-hundred day moving average of $8.06. The firm has a market capitalization of $3.81 billion, a PE ratio of -293.57 and a beta of 1.69.

Insider Buying and Selling

In related news, insider Mehri Shadman sold 17,240 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $8.76, for a total value of $151,022.40. Following the completion of the transaction, the insider now directly owns 182,538 shares of the company’s stock, valued at approximately $1,599,032.88. This represents a 8.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Bergman sold 30,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $9.09, for a total value of $272,700.00. Following the completion of the transaction, the chief financial officer now owns 494,210 shares in the company, valued at $4,492,368.90. The trade was a 5.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,879 shares of company stock worth $508,642. Insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Under Armour

Hedge funds have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. grew its stake in Under Armour by 163.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,900 shares of the company’s stock valued at $26,000 after acquiring an additional 1,800 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Under Armour during the 3rd quarter worth approximately $56,000. Optas LLC purchased a new stake in shares of Under Armour in the second quarter valued at approximately $72,000. CWM LLC increased its holdings in shares of Under Armour by 20.7% in the third quarter. CWM LLC now owns 8,211 shares of the company’s stock valued at $73,000 after purchasing an additional 1,409 shares during the last quarter. Finally, Koss Olinger Consulting LLC acquired a new stake in shares of Under Armour in the second quarter valued at approximately $79,000. 34.58% of the stock is currently owned by institutional investors and hedge funds.

Under Armour Company Profile

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.