Under Armour’s (UAA) “Underweight” Rating Reaffirmed at Morgan Stanley

Morgan Stanley reissued their underweight rating on shares of Under Armour (NYSE:UAA) in a research note released on Friday morning,Benzinga reports. Morgan Stanley currently has a $4.00 target price on the stock.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company raised their price target on Under Armour from $8.00 to $11.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Under Armour in a research note on Friday. BMO Capital Markets increased their price target on shares of Under Armour from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Robert W. Baird boosted their price objective on shares of Under Armour from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Truist Financial increased their target price on shares of Under Armour from $8.00 to $11.00 and gave the company a “hold” rating in a report on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.34.

Under Armour Price Performance

UAA stock opened at $8.81 on Friday. The firm has a 50 day simple moving average of $9.34 and a two-hundred day simple moving average of $8.04. The stock has a market cap of $3.81 billion, a PE ratio of -293.67 and a beta of 1.69. Under Armour has a one year low of $6.17 and a one year high of $11.89. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.18 and a quick ratio of 1.24.

Insider Buying and Selling at Under Armour

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. boosted its stake in Under Armour by 163.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,900 shares of the company’s stock valued at $26,000 after purchasing an additional 1,800 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Under Armour in the 3rd quarter worth approximately $56,000. CWM LLC raised its stake in Under Armour by 20.7% during the 3rd quarter. CWM LLC now owns 8,211 shares of the company’s stock valued at $73,000 after buying an additional 1,409 shares during the last quarter. City State Bank boosted its stake in shares of Under Armour by 292.6% in the 3rd quarter. City State Bank now owns 10,063 shares of the company’s stock worth $90,000 after buying an additional 7,500 shares during the last quarter. Finally, Baker Avenue Asset Management LP bought a new stake in shares of Under Armour in the third quarter worth $92,000. Hedge funds and other institutional investors own 34.58% of the company’s stock.

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.