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NEW YORK (TheStreet) -- Under Armour (UA) - Get Free Report stock is down 3.10% to $86.90 this morning after Piper Jaffray cut its price target, but colder weather should help shares rebound, TheStreet's Jim Cramer said on CNBC's Squawk on the Street this morning.

Cramer added that Under Armour is "the most weather-oriented of all companies," and if the weather remains cold, Under Armour will have the right product.

"If it stays cold in the next three weeks, you're going to wonder, 'Why didn't I pick some [stock] up in the $80's?" Cramer said. 

Cramer also observed that the athletic apparel company has a connected fitness initiative, and "a lot of what they've done is technological."

"They're not going away," he noted.

In other analyst actions this morning, Ulta's price target was hiked to $215 from $180 at JPMorgan, and Cramer pointed out that the beauty retailer is mostly immune to competition from companies such as (AMZN).

"You can't go to the Amazon beauty parlor, at least not yet," Cramer stated. "And drones can't cut hair - at least that I've seen."

Separately, TheStreet Ratings team rates UNDER ARMOUR INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

We rate UNDER ARMOUR INC (UA) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, growth in earnings per share, increase in net income, solid stock price performance and expanding profit margins. We feel its strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value.

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • The revenue growth came in higher than the industry average of 15.3%. Since the same quarter one year prior, revenues rose by 28.4%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • UNDER ARMOUR INC has improved earnings per share by 9.8% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, UNDER ARMOUR INC increased its bottom line by earning $0.95 versus $0.75 in the prior year. This year, the market expects an improvement in earnings ($1.05 versus $0.95).
  • The net income growth from the same quarter one year ago has greatly exceeded that of the S&P 500, but is less than that of the Textiles, Apparel & Luxury Goods industry average. The net income increased by 12.8% when compared to the same quarter one year prior, going from $89.11 million to $100.48 million.
  • Investors have apparently begun to recognize positive factors similar to those we have mentioned in this report, including earnings growth. This has helped drive up the company's shares by a sharp 30.32% over the past year, a rise that has exceeded that of the S&P 500 Index. We feel that the stock's sharp appreciation over the last year has driven it to a price level which is now somewhat expensive compared to the rest of its industry. The other strengths this company shows, however, justify the higher price levels.
  • The gross profit margin for UNDER ARMOUR INC is rather high; currently it is at 50.93%. Regardless of UA's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, the net profit margin of 8.34% trails the industry average.
  • You can view the full analysis from the report here: UA

Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.