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The Ratings Game: Under Armour suffers multiple downgrades on fears the ‘growth story’ is ending

Bloomberg

Analyst downgrades of Under Armour came quickly after the earnings miss was announced

The Under Armour Inc. fairy tale may be over.

Shares plummeted 25.8% on Tuesday marking the steepest one-day decline since it went public after the company reported fourth-quarter earnings that were below expectations, announced the departure of Chief Financial Officer Chip Molloy after about a year on the job, and gave guidance below expectations.

Following the announcement Under Armour UA, -23.40% was swiftly downgraded at least three times. At Raymond James, shares were moved to underperform from market perform, with analysts writing in a note that the “growth story is coming to an end.

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