Under Armour stock hits 52-week high on strong performance

Shares of Under Armour Inc. hit a 52-week high of 106.65 dollars Thursday, after

the sports apparel retailer posted robust fourth-quarter 2013 results.

"This Zacks Rank #2 (Buy) stock emerged strong amid an environment where many retailers grappled with aggressive promotional strategies at the expense of margins to gain market share during the holiday season," analysts at Zacks Equities Research highlighted in a note Friday.

The quarterly earnings of 59 cents a share surpassed the Zacks Consensus Estimate of 54 cents and increased considerably from 47 cents earned in the year-ago quarter. In the trailing 7 quarters, the company had beaten the Zacks Consensus Estimate by an average of 26.6 percent.

"Aided by strong performance of the Apparel, Footwear and Accessories categories, total revenue came in at 682.8 million dollars, up 35 percent year-over-year and ahead of the Zacks Consensus Estimate of 620 million dollars."