Under Armour cut to Hold at Argus amid continued revenue decline

As previously reported, Argus downgraded Under Armour (UAA) to Hold from Buy. The firm notes that while its Q2 earnings topped estimates and its margins are improving, the company’s revenue across product lines is still declining and is expected to decline at least for the next several quarters. Despite Under Armour’s well-known brand, its products, sneakers and fitness apparel, are also in a “very competitive space”, though the firm would consider an upgrade if the new products have the desired result of revitalizing the brand, the analyst tells investors in a research note.