Argus Downgrades Under Armour, Inc. (UAA) to Hold
- S&P 500 muted after strong inflation data
- U.S. Calls for Pause of J&J (JNJ) Vaccine After Clotting Cases, Including One Death
- Biggest SPAC Deal Ever: Grab To Go Public in a $40 Billion Merger With Altimeter (AGC), Backed by Fidelity and BlackRock
- Oil prices rise after robust China data
- Bitcoin (BTC) Price Soars 5% to Fresh Record Highs Ahead of Coinbase IPO
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
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."
Shares of Under Armour, Inc. closed at $22.40 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: BofA Securities Downgrades Lucira Health Inc. (LHDX) to Underperform
- UPDATE: Susquehanna Upgrades Spirit Airlines (SAVE) to Positive Ahead of Q1 Earnings
- Booking (BKNG) Upgraded to a 'Buy' at Jefferies as Travel Expected to Rebound in 2H2021
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades, Hot Comments, Hot Downgrades
Related EntitiesArgus, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!