Under Armour (NYSE:UA) Sales Expected to Grow by 32 Percent

Under Armour, Inc. (NYSE:UA) sales are projected to grow at a 32 percent clip in 2011, according to Wedbush, increasing their sales outlook on the company from 22 percent.

Wholesale and direct-to-customer sales were particularly noted by Wedbush as growth segments.

EPS estimates for the fourth quarter were raised from $0.34 to $0.41 for Under Armor. Full year 2011 EPS estimate was boosted from $1.54 to $1.62. Full year 2012 EPS was introduced at $1.92.

Wedbush reiterates a "Neutral" rating on Under Armor, which closed Tuesday at $53, down $0.52, or 0.97 percent. They raised their price target on UA from $48 to $58.