Under Armour Inc (NYSE:UA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Saturday.

According to Zacks, “Under Armour, Inc. is involved in the development, marketing and distribution of branded performance apparel, footwear and accessories for men, women and youth. It operates primarily in North America, Europe, the Middle East, Africa, the Asia-Pacific and Latin America. The company’s Under Armour Connected Fitness(TM) platform provides digital health and fitness community through UA Record, MapMyFitness, Endomondo and MyFitnessPal applications. Under Armour, Inc. is headquartered in Baltimore, Maryland. “

Several other research firms have also issued reports on UA. Susquehanna Bancshares Inc reissued a “reduce” rating and issued a $14.00 price target on shares of Under Armour in a research report on Friday, March 10th. Wells Fargo & Co reissued a “market weight” rating and issued a $17.00 price target on shares of Under Armour in a research report on Wednesday, March 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $20.25.

Analyst Recommendations for Under Armour (NYSE:UA)

Shares of Under Armour (NYSE:UA) traded down 2.623% during mid-day trading on Friday, hitting $17.635. The stock had a trading volume of 2,545,073 shares. Under Armour has a one year low of $17.05 and a one year high of $46.18. The company has a market cap of $7.73 billion and a PE ratio of 39.629. The firm’s 50 day moving average price is $18.10 and its 200-day moving average price is $23.70.

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Hedge funds have recently modified their holdings of the company. Prospera Financial Services Inc boosted its stake in shares of Under Armour by 38.7% in the third quarter. Prospera Financial Services Inc now owns 7,101 shares of the company’s stock valued at $275,000 after buying an additional 1,980 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Under Armour by 11.7% in the third quarter. Cullen Frost Bankers Inc. now owns 58,655 shares of the company’s stock valued at $2,269,000 after buying an additional 6,160 shares in the last quarter. Beech Hill Advisors Inc. boosted its stake in shares of Under Armour by 24.1% in the third quarter. Beech Hill Advisors Inc. now owns 13,525 shares of the company’s stock valued at $523,000 after buying an additional 2,625 shares in the last quarter. IFC Holdings Incorporated FL boosted its stake in shares of Under Armour by 31.8% in the third quarter. IFC Holdings Incorporated FL now owns 8,464 shares of the company’s stock valued at $330,000 after buying an additional 2,041 shares in the last quarter. Finally, BTC Capital Management Inc. purchased a new stake in shares of Under Armour during the third quarter valued at $280,000.

About Under Armour

Under Armour, Inc is engaged in the development, marketing and distribution of branded performance apparel, footwear and accessories for men, women and youth. The Company’s segments include North America, consisting of the United States and Canada; Europe, the Middle East and Africa (EMEA); Asia-Pacific; Latin America, and Connected Fitness.

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