Buy Under Armour Stock. Shares Can Climb 50% From Here.

In sports, there’s nothing like a good underdog story. The same might be true of investing. Under Armour checks both boxes.

For years, investors had good reason to avoid the athletic-apparel and footwear maker. From questionable leadership decisions to accounting woes and disappointing acquisitions, Under Armour (ticker: UAA) lurched from one problem to the next, while higher sales failed to do much for the bottom line. The stock, at a recent $15.47, has gone virtually nowhere in the past four years.

Investors…