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Downgrade Alert for Under Armour (UA)

By James Quinn

Under Armour (NYSE:UA) was downgraded from Buy to Hold at Argus Research today. The stock closed yesterday at $39.62 on volume of 6.1 million shares, above average daily volume of 5.8 million.

Under Armour has overhead space with shares priced $39.63, or 62.8% below the average consensus analyst price target of $106.61. The stock should run into initial resistance at its 50-day moving average (MA) of $67.50 and subsequent resistance at its 200-day MA of $84.11.

Over the past year, Under Armour has traded in a range of $35.35 to $105.89 and closed yesterday at $39.63, 12% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 4.5% while the 200-day MA has slid 1.1%.

Under Armour, Inc. develops, markets, and distributes branded performance products for men, women, and youth. The Company designs and sells a broad offering of apparel and accessories made of synthetic microfibers.

SmarTrend recommended that its subscribers protect gains by selling shares of Under Armour on April 8th, 2016 by issuing a Downtrend alert when the shares were trading at $43.96. Since that call, shares of Under Armour have fallen 5.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades Under Armour

Ticker(s): UA