Morgan Stanley cut shares of Under Armour Inc (NYSE:UA) from an equal weight rating to an underweight rating in a report released on Saturday, Market Beat Ratings reports. The firm currently has $62.00 target price on the apparel retailer’s stock, down from their prior target price of $103.00.

Under Armour (NYSE:UA) traded up 1.62% on Friday, reaching $85.43. The company had a trading volume of 8,252,709 shares. Under Armour has a 52-week low of $63.23 and a 52-week high of $105.89. The stock has a market capitalization of $18.45 billion and a PE ratio of 81.36. The stock has a 50 day moving average price of $76.82 and a 200 day moving average price of $90.88.

Under Armour (NYSE:UA) last announced its quarterly earnings data on Thursday, January 28th. The apparel retailer reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. The firm earned $1.17 billion during the quarter, compared to analyst estimates of $1.13 billion. Under Armour’s revenue for the quarter was up 30.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 EPS. Analysts expect that Under Armour will post $1.32 EPS for the current year.

UA has been the subject of a number of other reports. Vetr cut shares of Under Armour from a buy rating to a hold rating and set a $105.64 target price for the company. in a report on Monday, October 12th. Zacks Investment Research cut shares of Under Armour from a hold rating to a sell rating in a report on Wednesday, October 14th. Canaccord Genuity reaffirmed a buy rating and issued a $130.00 target price (up from $105.00) on shares of Under Armour in a report on Wednesday, October 14th. FBR & Co. reaffirmed a buy rating and issued a $115.00 target price on shares of Under Armour in a report on Tuesday, October 13th. Finally, Piper Jaffray cut shares of Under Armour from an overweight rating to a neutral rating and set a $113.00 target price for the company. in a report on Tuesday, October 13th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $100.36.

In other news, CEO Kevin A. Plank sold 450,000 shares of the company’s stock in a transaction that occurred on Monday, November 23rd. The shares were sold at an average price of $91.99, for a total value of $41,395,500.00. Following the completion of the sale, the chief executive officer now directly owns 190,123 shares of the company’s stock, valued at approximately $17,489,414.77. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kerry D. Chandler sold 3,588 shares of the company’s stock in a transaction that occurred on Friday, November 20th. The stock was sold at an average price of $91.53, for a total transaction of $328,409.64. Following the completion of the sale, the insider now directly owns 10,974 shares of the company’s stock, valued at $1,004,450.22. The disclosure for this sale can be found here.

Several hedge funds recently modified their holdings of the company. Creative Planning raised its stake in shares of Under Armour by 50.0% in the fourth quarter. Creative Planning now owns 300 shares of the apparel retailer’s stock worth $0 after buying an additional 100 shares in the last quarter. Detwiler Fenton Investment Management bought a new stake in shares of Under Armour during the fourth quarter worth $213,000. Cardinal Capital Management raised its stake in shares of Under Armour by 3.4% in the fourth quarter. Cardinal Capital Management now owns 3,753 shares of the apparel retailer’s stock worth $303,000 after buying an additional 123 shares in the last quarter. Candriam Luxembourg S.C.A. bought a new stake in shares of Under Armour during the fourth quarter worth $315,000. Finally, Simplex Trading raised its stake in shares of Under Armour by 1.2% in the fourth quarter. Simplex Trading now owns 938 shares of the apparel retailer’s stock worth $363,000 after buying an additional 11 shares in the last quarter.

Under Armour, Inc. is engaged in the development, marketing and distribution of branded performance apparel, footwear and accessories for men, women and youth. The Company’s moisture-wicking fabrications are engineered in a range of designs and styles for wear in nearly every climate to provide an alternative to traditional products. The Company’s operating segments include North America, consisting of the United States and Canada; Europe, the Middle East and Africa (NYSE:UA); Asia-Pacific; Latin America, and MapMyFitness. The Company also offers digital fitness platform licenses and subscriptions, along with digital advertising through its MapMyFitness business. Its apparel offers three gearlines, including HEATGEAR, COLDGEAR and ALLSEASONGEAR. Its footwear offerings include football, baseball, lacrosse, softball and soccer cleats, slides and performance training, running, basketball and outdoor footwear. Its accessories primarily include the sale of headwear, bags and gloves.

12 Month Chart for NYSE:UA

Receive News & Ratings for Under Armour Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Under Armour Inc and related companies with MarketBeat.com's FREE daily email newsletter.