Under Armour (NYSE:UAA) Given Underweight Rating at Morgan Stanley

Under Armour (NYSE:UAA - Get Free Report)'s stock had its "underweight" rating restated by stock analysts at Morgan Stanley in a note issued to investors on Friday,Benzinga reports. They currently have a $4.00 target price on the stock. Morgan Stanley's target price would suggest a potential downside of 54.60% from the stock's previous close.

UAA has been the subject of a number of other reports. Argus upgraded Under Armour to a "strong-buy" rating in a research report on Thursday, August 15th. BMO Capital Markets upped their price objective on shares of Under Armour from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Monday, September 16th. Truist Financial increased their price objective on shares of Under Armour from $8.00 to $11.00 and gave the stock a "hold" rating in a research note on Friday, November 8th. Wells Fargo & Company boosted their target price on shares of Under Armour from $8.00 to $11.00 and gave the company an "equal weight" rating in a research report on Friday, November 8th. Finally, Barclays increased their price target on shares of Under Armour from $8.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Under Armour has an average rating of "Hold" and a consensus price target of $9.34.

Under Armour Price Performance

Shares of NYSE UAA traded down $0.78 during midday trading on Friday, reaching $8.81. The company's stock had a trading volume of 16,982,341 shares, compared to its average volume of 10,179,003. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.24 and a current ratio of 2.18. The company has a market cap of $3.81 billion, a P/E ratio of -293.67 and a beta of 1.69. The business's 50 day moving average price is $9.34 and its two-hundred day moving average price is $8.05. Under Armour has a fifty-two week low of $6.17 and a fifty-two week high of $11.89.

Insider Activity

In other Under Armour news, CFO David Bergman sold 30,000 shares of Under Armour stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $9.09, for a total transaction of $272,700.00. Following the transaction, the chief financial officer now directly owns 494,210 shares of the company's stock, valued at approximately $4,492,368.90. The trade was a 5.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mehri Shadman sold 9,639 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $8.81, for a total value of $84,919.59. Following the completion of the sale, the insider now owns 172,899 shares in the company, valued at $1,523,240.19. This trade represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,879 shares of company stock valued at $508,642 over the last quarter. 15.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Under Armour

Hedge funds have recently made changes to their positions in the stock. Lecap Asset Management Ltd. acquired a new stake in Under Armour during the 2nd quarter worth about $344,000. Optas LLC bought a new stake in Under Armour in the second quarter worth approximately $72,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Under Armour by 49.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,435 shares of the company's stock valued at $1,143,000 after buying an additional 56,440 shares during the period. Panagora Asset Management Inc. boosted its holdings in shares of Under Armour by 104.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 27,073 shares of the company's stock worth $181,000 after buying an additional 13,801 shares in the last quarter. Finally, iA Global Asset Management Inc. grew its position in shares of Under Armour by 30.4% during the 2nd quarter. iA Global Asset Management Inc. now owns 70,323 shares of the company's stock worth $469,000 after buying an additional 16,377 shares during the period. 34.58% of the stock is currently owned by institutional investors.

About Under Armour

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.