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Markets · Investing · Business
Finance
Why Under Armour Stock Was Underwater This Week
An analyst downgraded her rating on the apparel company.
Investors weren't all that eager to try Under Armour's (NYSE:UA) equity on for size these past few days. According to data compiled by S&P Global Market Intelligence, the apparel maker's shares were down in excess of 12% week to date as of Friday before market open. It wasn't hard to determine the key reason why -- an analyst downgraded her recommendation on the stock.
Tuesday morning, Adrienne Yih of Barclays adjusted her takes on several clothing stocks under her coverage. In doing so, she downshifted her Under Armour rating to underweight (read: sell) from equal weight (hold). However, she maintained her price target of $5 per share.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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