Under Armour Inc. (NYSE:UA) was upgraded by Wells Fargo & Co. from a “market perform” rating to an “outperform” rating in a research note issued to investors on Wednesday. The firm currently has a $45.00 price target on the apparel retailer’s stock, up from their prior price target of $40.00. Wells Fargo & Co.’s price objective would indicate a potential upside of 17.86% from the company’s current price.
Several other brokerages also recently weighed in on UA. Cowen and Company reiterated an “outperform” rating and issued a $46.00 target price on shares of Under Armour in a research note on Monday, August 15th. Deutsche Bank AG reiterated a “buy” rating on shares of Under Armour in a research note on Wednesday, August 10th. Vetr downgraded Under Armour from a “strong-buy” rating to a “buy” rating and set a $41.41 target price on the stock. in a research note on Tuesday. Argus downgraded Under Armour from a “buy” rating to a “hold” rating and lifted their target price for the company from $31.61 to $41.56 in a research note on Wednesday, August 31st. Finally, B. Riley reiterated a “buy” rating and issued a $51.00 target price on shares of Under Armour in a research note on Saturday, July 30th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $56.26.
Under Armour (NYSE:UA) opened at 38.18 on Wednesday. The company has a 50-day moving average price of $39.17 and a 200 day moving average price of $40.10. Under Armour has a 1-year low of $32.03 and a 1-year high of $50.72. The firm has a market capitalization of $16.70 billion, a P/E ratio of 98.40 and a beta of 0.39.
Under Armour (NYSE:UA) last released its quarterly earnings results on Tuesday, July 26th. The apparel retailer reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $1 million for the quarter, compared to analysts’ expectations of $995.14 million. Under Armour had a return on equity of 13.79% and a net margin of 5.24%. The company’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 EPS. Analysts expect that Under Armour will post $0.58 earnings per share for the current fiscal year.
In related news, insider Matthew C. Mirchin sold 16,015 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $42.92, for a total value of $687,363.80. Following the transaction, the insider now owns 29,869 shares in the company, valued at $1,281,977.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Byron K. Adams, Jr. sold 34,726 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $40.00, for a total value of $1,389,040.00. Following the completion of the transaction, the director now owns 46,293 shares in the company, valued at approximately $1,851,720. The disclosure for this sale can be found here. 16.50% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ngam Advisors L.P. boosted its position in Under Armour by 16.3% in the first quarter. Ngam Advisors L.P. now owns 61,806 shares of the apparel retailer’s stock valued at $2,709,000 after buying an additional 8,653 shares during the period. Teachers Advisors Inc. boosted its stake in shares of Under Armour by 2.1% in the first quarter. Teachers Advisors Inc. now owns 213,801 shares of the apparel retailer’s stock valued at $18,137,000 after buying an additional 4,492 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Under Armour by 1.6% in the first quarter. Prudential Financial Inc. now owns 222,896 shares of the apparel retailer’s stock valued at $18,908,000 after buying an additional 3,590 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of Under Armour during the first quarter valued at about $1,557,000. Finally, Menta Capital LLC purchased a new stake in shares of Under Armour during the first quarter valued at about $713,000. Institutional investors and hedge funds own 36.56% of the company’s stock.
About Under Armour
Under Armour, Inc is engaged in the development, marketing and distribution of branded performance apparel, footwear and accessories for men, women and youth. The Company’s segments include North America, consisting of the United States and Canada; Europe, the Middle East and Africa (EMEA); Asia-Pacific; Latin America, and Connected Fitness.
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