Bank of America Corporation Downgrades Under Armour, Inc. (UAA) to Underperform

The fund owned 7,255,131 shares of the company's stock after selling 7,463,644 shares during the quarter.

Several large investors have recently made changes to their positions in the company. HL Financial Services LLC increased its position in shares of Under Armour by 2.1% in the second quarter. WFG Advisors LP bought a new position in Under Armour in the 2nd quarter worth approximately $132,000. Pacad Investment Ltd.'s holdings in Under Armour were worth $2,227,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 30.43% of the company's stock. Shares of Under Armour hit a new multi-year low of $15.52 on Monday and fell another 15 percent early Tuesday morning as the company's earnings report came in mixed - investors found fault with a revised outlook. The company has a market capitalization of $6.35 billion, a PE ratio of 29.15 and a beta of 1.15. The firm's 50-day moving average is $16.75 and its 200 day moving average is $18.93.

Under Armour (NYSE:UAA) last released its quarterly earnings data on Tuesday, August 1st. The apparel retailer reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04.

Looking forward, for the quarter ending Dec-17, 29 analysts have a mean sales target of 1,532.88 million. Under Armour, Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Director Krongard A B has sold 4,799 shares of Under Armour, Inc.

As the earnings date approaches, we can see that insider ownership is now 0.20% shares, and institutional ownership is at 74.80% for Under Armour, Inc.

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UA has been the subject of a number of other research reports. Pivotal Research's target price would indicate a potential upside of 15.33% from the stock's previous close. On average, analysts expect that Under Armour Inc. will post $0.60 earnings per share for the current fiscal year. Outstanding shares refer to a company's stock presently held by all its shareholders, counting share blocks held by institutional shareholders and restricted shares owned by the company's officers and insiders. They set an "underperform" rating and a $14.00 price objective on the stock. Nine research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. Wells Fargo & Company downgraded shares of Under Armour from a "market perform" rating to a "sell" rating and decreased their price objective for the company from $17.00 to $13.00 in a research note on Tuesday, September 19th.

The Company sells its branded apparel, footwear and accessories in North America through its wholesale and direct to consumer channels.

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