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

Argus analyst Kristina Ruggeri downgraded Under Armour, Inc. (NYSE: UAA) from Buy to Hold.

The analyst comments "On the fundamentals, UAA is trading at a lofty 157-times our 2021 EPS estimate and 70-times our 2022 estimate, reflecting both the recent run-up in the share price and the company's relatively weak near-term earnings outlook. The price/sales multiple is 2.3, above the peer average. While we have a favorable view of UAA's long-term prospects, we believe that it will need time to overcome current challenges and that a HOLD rating is now appropriate. We would consider returning the stock to our BUY list on signs of an improving earnings outlook."

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 $22.40 yesterday.

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