DA Davidson downgraded Under Armour, Inc. (NYSE: UAA) from Buy to Neutral with a price target of $15.00 (from $23.00).

Analyst Andrew Burns sees an elongated recovery time as business models issues compound coupled with significant external headwinds.

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 $12.52 yesterday.