Under Armour (NYSE:UAA) Trading Down 3.7% – Here’s Why

Under Armour, Inc. (NYSE:UAA) was down 3.7% during mid-day trading on Tuesday . The stock traded as low as $9.43 and last traded at $9.44. Approximately 277,883 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 10,218,207 shares. The stock had previously closed at $9.80.

Analyst Ratings Changes

Several analysts have issued reports on UAA shares. Truist Financial raised their price target on shares of Under Armour from $8.00 to $11.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. UBS Group raised their price target on shares of Under Armour from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Wells Fargo & Company raised their price target on shares of Under Armour from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Wedbush raised their price target on shares of Under Armour from $8.00 to $8.50 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $8.00 price objective on shares of Under Armour in a report on Monday, November 4th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Under Armour has an average rating of “Hold” and an average price target of $9.03.

Under Armour Stock Performance

The firm’s 50-day moving average price is $8.65 and its 200 day moving average price is $7.64. 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 $4.13 billion, a price-to-earnings ratio of -326.50, a PEG ratio of 3.71 and a beta of 1.66.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. lifted its position in shares of Under Armour by 163.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,900 shares of the company’s stock worth $26,000 after purchasing an additional 1,800 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Under Armour in the third quarter valued at $56,000. Optas LLC acquired a new position in shares of Under Armour in the second quarter valued at $72,000. CWM LLC increased its holdings in shares of Under Armour by 20.7% in the third quarter. CWM LLC now owns 8,211 shares of the company’s stock valued at $73,000 after purchasing an additional 1,409 shares during the last quarter. Finally, Koss Olinger Consulting LLC acquired a new position in shares of Under Armour in the second quarter valued at $79,000. Institutional investors and hedge funds own 34.58% of the company’s stock.

Under Armour Company Profile

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.