Under Armour (NYSE:UAA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Shares of Under Armour have declined and underperformed the industry in a year. Also, the company has been facing issues such as sluggishness in North America business, deteriorating gross margin and higher interest expenses. For 2018, management anticipates revenues to increase by low single-digit percentage rate. In fourth-quarter 2017, the company’s earning missed the consensus mark. However, the big take away from this quarter was better-than-expected top-line performance. Meanwhile, Under Armour’s sustained focus on brand development, expansion of direct-to-consumer and technology-based fitness business bode well. It has also undertaken restructuring efforts since 2017 and projects savings of at least $75 million annually in 2019 and thereafter. Furthermore, Under Armour continues to seek opportunities for increasing global footprint and market share, besides rolling out e-commerce platforms.”

A number of other brokerages have also recently commented on UAA. Wells Fargo & Co reduced their price target on Under Armour to $11.00 and set an “underperform” rating for the company in a research report on Tuesday, October 31st. Credit Suisse Group upped their price target on Under Armour from $12.02 to $12.25 and gave the stock a “neutral” rating in a research report on Tuesday, November 7th. Buckingham Research began coverage on Under Armour in a research report on Friday, January 5th. They issued a “neutral” rating and a $17.00 price target for the company. Vetr cut Under Armour from a “sell” rating to a “strong sell” rating and set a $12.00 price target for the company. in a research report on Monday, December 11th. Finally, Macquarie cut Under Armour from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $10.00 to $8.00 in a research report on Tuesday, January 16th. Nineteen investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $14.71.

Shares of Under Armour (NYSE:UAA) traded up $0.95 during trading hours on Wednesday, hitting $17.65. The stock had a trading volume of 10,961,228 shares, compared to its average volume of 7,609,334. The company has a market capitalization of $7,470.00, a P/E ratio of -160.45, a P/E/G ratio of 4.35 and a beta of -0.04. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 2.23. Under Armour has a 1 year low of $11.40 and a 1 year high of $23.46.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Under Armour by 1.3% during the fourth quarter. BlackRock Inc. now owns 11,568,717 shares of the company’s stock valued at $166,937,000 after buying an additional 147,753 shares during the last quarter. Bamco Inc. NY lifted its position in Under Armour by 10.8% during the 3rd quarter. Bamco Inc. NY now owns 7,704,996 shares of the company’s stock worth $126,978,000 after acquiring an additional 750,325 shares during the period. State Street Corp acquired a new stake in Under Armour during the 2nd quarter worth about $157,325,000. Hexavest Inc. acquired a new stake in Under Armour during the 4th quarter worth about $39,368,000. Finally, Disciplined Growth Investors Inc. MN acquired a new stake in Under Armour during the 3rd quarter worth about $39,964,000. 31.93% of the stock is owned by institutional investors.

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Under Armour Company Profile

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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