JPMorgan downgraded Under Armour, Inc. (NYSE: UAA) from Neutral to Underweight with a price target of $10.00 (from $13.00).

Analyst Matt Boss expects the transition will take time given the business model is under fire and the analyst is incrementally more cautious on the name citing decline revenues, international growth moderation, DTC deceleration, GPM "mix" return back to negative, and two-year SGA journey with NYC rent in FY 2019.

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 $16.41 yesterday.