Shares of Under Armour, Inc. (NYSE:UAA) traded down 3.9% during trading on Wednesday after UBS AG lowered their price target on the stock from $19.00 to $14.00. UBS AG currently has a neutral rating on the stock. Under Armour traded as low as $12.48 and last traded at $12.03. 15,732,851 shares changed hands during mid-day trading, an increase of 196% from the average session volume of 5,315,940 shares. The stock had previously closed at $12.52.

Other analysts have also issued reports about the company. FBR & Co reissued an “underperform” rating and issued a $14.00 price objective on shares of Under Armour in a report on Wednesday, August 2nd. Vetr lowered Under Armour from a “strong-buy” rating to a “hold” rating and set a $21.02 price objective on the stock. in a report on Monday, July 17th. Telsey Advisory Group dropped their price objective on Under Armour from $21.00 to $18.00 and set a “market perform” rating on the stock in a report on Wednesday, August 2nd. Citigroup Inc. dropped their price objective on Under Armour to $14.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Canaccord Genuity lowered Under Armour from a “hold” rating to a “sell” rating and dropped their price objective for the company from $15.00 to $8.00 in a report on Wednesday. Eighteen research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.24.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aldebaran Financial Inc. grew its stake in Under Armour by 8.3% during the 2nd quarter. Aldebaran Financial Inc. now owns 27,310 shares of the company’s stock worth $594,000 after purchasing an additional 2,090 shares in the last quarter. Nationwide Fund Advisors grew its stake in Under Armour by 6.8% during the 3rd quarter. Nationwide Fund Advisors now owns 52,432 shares of the company’s stock worth $864,000 after purchasing an additional 3,338 shares in the last quarter. IFP Advisors Inc grew its stake in Under Armour by 5.6% during the 3rd quarter. IFP Advisors Inc now owns 97,318 shares of the company’s stock worth $1,604,000 after purchasing an additional 5,148 shares in the last quarter. D.A. Davidson & CO. acquired a new position in Under Armour during the 2nd quarter worth $118,000. Finally, Cornerstone Advisors Inc. acquired a new position in Under Armour during the 2nd quarter worth $124,000. 30.43% of the stock is owned by hedge funds and other institutional investors.

Under Armour (NYSE:UAA) last released its quarterly earnings data on Tuesday, October 31st. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. Under Armour had a return on equity of 10.93% and a net margin of 4.38%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. Under Armour’s revenue for the quarter was down 4.5% compared to the same quarter last year.

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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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