NEW YORK (TheStreet) -- Under Armour (UA) shares closed trading up 2.07% to $84.90 on Monday after Jordan Speith, one of the apparel company's athletic endorsers, won the U.S. Open golf championship over the weekend.
The Baltimore-based company signed Speith in 2013 to a four year contract before he had won a single championship. Fast forward to 2015 and Speith has claimed his second major championship of the year.
Speith's win continues the championship run of Under Armour signed athletes.
Last week, Stephen Curry, an Under Armour signed athlete who won the NBA's Most Valuable Player award this past season, hoisted the Larry O'Brien trophy as Curry and his Golden State Warriors beat Nike's (NKE) Lebron James and the Cleveland Cavaliers to win the NBA title.
Speith, 21, entered the U.S. Open as the number two golfer in the world after winning the Masters earlier this year.
In January, Speith signed a new 10-year exclusive Under Armour contract that will keep him in the company's apparel on the golf course through 2025.
Insight from TheStreet's Research Team:
Under Armour is covered by TheStreet's Growth Seeker premium services and was mentioned in a Real Money Pro article entitled 'This Week's Most Important 6 Themes to Watch'. Here is what TheStreet's Brian Sozzi had to say about the stock:
Nike is having some performance problems in its core running business, something brought to light in the prior period's earnings call. The market chose to ignore that bit of news, however, raising the risk for disappointment this time around. Under Armour has some strong new running shoes in the market. And Under Armour's Curry One basketball sneakers continue to be hot sellers (as in they are out of stock), which could be causing a little bit of share loss for Nike in its Jordan brand, believe it or not.
-Brian Sozzi,' This Week's Most Important 6 Themes to Watch', 6/22/2015
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: