Argus Downgrades Under Armour, Inc. (UA) to Hold

August 31, 2016 7:27 AM EDT
Get Alerts UA Hot Sheet
Price: $32.47 -14.33%

Rating Summary:
    23 Buy, 21 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 19 | New: 30
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Argus downgraded Under Armour, Inc. (NYSE: UA) from Buy to Hold, saying investment will likely to hinder growth.

The analyst said although they expect Under Armour to post strong revenue going forward, they think that further expansion of the business will require substantial investment, which will add debt and interest expense and weigh on earnings growth.

In addition, Under Armour trades at a high current-year P/E, well above the average for other apparel companies they cover.

For an analyst ratings summary and ratings history on Under Armour, Inc. click here. For more ratings news on Under Armour, Inc. click here.

Shares of Under Armour, Inc. closed at $41.56 yesterday.

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