Why Is Under Armour's Stock Trading Higher Today?

Under Armour, Inc. UA shares are trading higher after Atlantic Equitites upgraded the stock from Underweight to Neutral and announced a price target of $24 per share following the company's earnings results.

The company on Tuesday reported better-than-expected first-quarter earnings per share and sales results. The company also raised its full-year earnings per share guidance above estimates.

Under Armour develops, markets, and distributes athletic apparel, footwear, and accessories in North America and other territories.

Under Armour's stock was trading 7.8% higher at $25.76 at the time of publication. The stock has a 52-week high of $21.59 and a 52-week low of $6.37.