Morgan Stanley Reiterates “Underweight” Rating for Under Armour (NYSE:UAA)

Under Armour (NYSE:UAA)‘s stock had its “underweight” rating reiterated by research analysts at Morgan Stanley in a report released on Friday,Benzinga reports. They currently have a $4.00 price objective on the stock. Morgan Stanley’s price objective suggests a potential downside of 54.60% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. Wells Fargo & Company boosted their price target on Under Armour from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. TD Cowen upped their price objective on shares of Under Armour from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Friday. UBS Group raised their target price on shares of Under Armour from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 8th. BMO Capital Markets boosted their price target 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. Finally, Barclays increased their price objective on shares of Under Armour from $8.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Under Armour currently has a consensus rating of “Hold” and a consensus price target of $9.34.

Under Armour Price Performance

Shares of NYSE UAA opened at $8.81 on Friday. Under Armour has a 12-month low of $6.17 and a 12-month high of $11.89. The stock has a 50 day simple moving average of $9.34 and a 200-day simple moving average of $8.05. The company has a current ratio of 2.18, a quick ratio of 1.24 and a debt-to-equity ratio of 0.30.

Insider Buying and Selling

In related news, insider Mehri Shadman sold 17,240 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $8.76, for a total value of $151,022.40. Following the completion of the transaction, the insider now owns 182,538 shares in the company, valued at $1,599,032.88. This trade represents a 8.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David Bergman sold 30,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $9.09, for a total value of $272,700.00. Following the sale, the chief financial officer now owns 494,210 shares in the company, valued at approximately $4,492,368.90. The trade was a 5.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,879 shares of company stock worth $508,642 in the last three months. 15.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Under Armour

A number of large investors have recently made changes to their positions in UAA. Quantbot Technologies LP boosted its stake in Under Armour by 288.1% in the 3rd quarter. Quantbot Technologies LP now owns 423,311 shares of the company’s stock worth $3,772,000 after purchasing an additional 314,226 shares during the period. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Under Armour by 1.3% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,412,643 shares of the company’s stock valued at $36,102,000 after purchasing an additional 70,731 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Under Armour in the third quarter valued at $576,000. International Assets Investment Management LLC boosted its position in shares of Under Armour by 2,413.5% in the third quarter. International Assets Investment Management LLC now owns 71,636 shares of the company’s stock worth $638,000 after buying an additional 68,786 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in shares of Under Armour by 48.1% during the third quarter. BNP Paribas Financial Markets now owns 613,917 shares of the company’s stock valued at $5,470,000 after buying an additional 199,348 shares in the last quarter. 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.