A Reversal for Under Armour Inc Is Not Near. The Stock Declines Again

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The stock of Under Armour Inc (UA) is a huge mover today! The stock is down 4.60% or $4.56 after the news, hitting $94.59 per share. About 2.38M shares traded hands. Under Armour Inc (NYSE:UA) has risen 22.39% since March 19, 2015 and is uptrending. It has outperformed by 25.76% the S&P500.
The move comes after 8 months negative chart setup for the $20.40B company. It was reported on Oct, 22 by Barchart.com. We have $62.43 PT which if reached, will make UA worth $6.94B less.

Out of 12 analysts covering Under Armour (NYSE:UA), 8 rate it “Buy”, 0 “Sell”, while 4 “Hold”. This means 67% are positive. Under Armour was the topic in 24 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Piper Jaffray downgraded the stock on October 14 to “Neutral” rating.

Canaccord Genuity has “BUY”¬†rating for Under Armourand¬†$130 PT. The analysts there said:¬†“We are buyers of UA heading into its Q3 earnings report next Thursday, October 22, BMO. Not only do we believe UA experienced solid demand across key categories and regions, more importantly we believe it improved its sell-in execution…Overall, we believe Q3 results should be a solid demonstration of the brand‚Äôs accelerating momentum.”

According to Zacks, “Under Armour is a leading developer, marketer and distributor of branded performance products for men, women and youth. The brand‚Äôs moisture-wicking synthetic fabrications are engineered in many different designs and styles for wear in nearly every climate to provide a performance alternative to traditional natural fiber products. The Company is an official supplier to the National Hockey League, the U.S. Ski Team, USA Rugby, the National Lacrosse League, and Major League Lacrosse; and the Company‚Äôs products are worn by professional football, baseball, and soccer players, as well as athletes in major collegiate and Olympic sports. The Company‚Äôs products are currently sold in the United States, Canada, Japan and the United Kingdom.”

#metadesc=’The stock of Under Armour Inc (UA) is a huge mover today!
The move comes after 8 months negative chart setup for the $20.40B company. It’#

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