NEW YORK (TheStreet) -- Shares of Under Armour (UA) ended Friday's trading day up almost 5%, making it TheStreet's Move of the Day and the best-performing stock in the S&P 500. Shares rose after the analysts at DA Davidson upgraded the stock to buy from neutral with a price target of $91 per share, pointing to the potential for more higher earnings down the road.
During the first quarter, UA sales rose 25% year over year to $805 million, according to an earnings release in April, and was negatively affected by foreign exchange headwinds, most notably the strengthening dollar. The athletic clothing maker also upped its 2015 guidance and expects revenue of $3.78 billion, an increase of 23 percent from last year.
In a segment on CNBC, TheStreet's Jim Cramer, portfolio manager of the Action Alerts PLUS charitable trust, said investors might be tired of the stock's lackluster performance since April, but they should not to give up on Under Armour or its CEO Kevin Plank. He said the company's move to sponsor Stephen Curry is showing dividends, as the basketball player was crowned Most Valuable Player in the National Basketball Association.
At $81.94 per share, the stock is trading at about 85 times greater than its pre-share earnings last year, according to data compiled by Bloomberg.
The analysts at Argus Research maintain a hold rating. Susquehanna Financial Group holds a neutral rating. Janney Montgomery Scott analysts hold a buy rating, while Cowen holds an outperform rating. The stock has a market capitalization of nearly $17 billion. Shares have risen over 20% since the start of the year.