Under Armour (NYSE:UAA) Shares Down 16.9% - Here's Why

Shares of Under Armour, Inc. (NYSE:UAA - Get Free Report) dropped 16.9% during mid-day trading on Thursday . The company traded as low as $5.55 and last traded at $5.48. Approximately 5,247,918 shares changed hands during trading, a decline of 53% from the average daily volume of 11,217,434 shares. The stock had previously closed at $6.60.

Analyst Ratings Changes

Several equities research analysts have recently commented on UAA shares. Evercore ISI decreased their price target on Under Armour from $8.00 to $7.00 and set an "underperform" rating on the stock in a research note on Monday, February 10th. StockNews.com upgraded Under Armour from a "sell" rating to a "hold" rating in a research report on Thursday, March 20th. TD Cowen boosted their price objective on shares of Under Armour from $10.00 to $11.00 and gave the stock a "hold" rating in a research report on Friday, December 13th. Barclays dropped their target price on shares of Under Armour from $11.00 to $8.00 and set an "equal weight" rating for the company in a report on Monday, February 10th. Finally, Guggenheim reiterated a "neutral" rating on shares of Under Armour in a research report on Friday, February 7th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $9.06.

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Under Armour Stock Performance

The stock's 50-day moving average is $6.99 and its 200-day moving average is $8.23. The company has a current ratio of 2.01, a quick ratio of 1.19 and a debt-to-equity ratio of 0.30. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -16.90 and a beta of 1.49.

Under Armour (NYSE:UAA - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.05. Under Armour had a negative net margin of 2.39% and a positive return on equity of 11.03%. During the same period in the prior year, the firm posted $0.19 EPS. On average, analysts expect that Under Armour, Inc. will post 0.3 EPS for the current year.

Institutional Investors Weigh In On Under Armour

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in Under Armour by 872.2% in the first quarter. GAMMA Investing LLC now owns 16,644 shares of the company's stock valued at $104,000 after acquiring an additional 14,932 shares in the last quarter. 111 Capital purchased a new stake in Under Armour during the 4th quarter worth $412,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Under Armour by 30.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,035 shares of the company's stock worth $149,000 after buying an additional 4,175 shares in the last quarter. Mackenzie Financial Corp boosted its position in Under Armour by 421.4% in the 4th quarter. Mackenzie Financial Corp now owns 53,241 shares of the company's stock valued at $441,000 after buying an additional 43,029 shares during the last quarter. Finally, Vise Technologies Inc. grew its stake in shares of Under Armour by 13.7% during the fourth quarter. Vise Technologies Inc. now owns 36,365 shares of the company's stock valued at $301,000 after acquiring an additional 4,371 shares in the last quarter. 34.58% of the stock is currently owned by hedge funds and other 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.