Piper Jaffray Cos. upgraded shares of Under Armour Inc. (NYSE:UA) from a neutral rating to an overweight rating in a research report report published on Thursday. The firm currently has $44.00 price target on the apparel retailer’s stock, up from their prior price target of $40.00.
Several other analysts have also issued reports on UA. Oppenheimer Holdings Inc. restated a hold rating on shares of Under Armour in a report on Wednesday, June 15th. Canaccord Genuity restated a buy rating and issued a $65.00 price objective on shares of Under Armour in a report on Friday, June 17th. Brean Capital restated a hold rating on shares of Under Armour in a report on Thursday, June 16th. Buckingham Research upgraded shares of Under Armour from a neutral rating to a buy rating and boosted their price objective for the company from $37.22 to $37.85 in a report on Monday, June 20th. Finally, Zacks Investment Research upgraded shares of Under Armour from a sell rating to a hold rating in a report on Monday, June 27th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Under Armour has an average rating of Buy and an average target price of $54.64.
Under Armour (NYSE:UA) opened at 37.63 on Thursday. The company has a market capitalization of $16.46 billion, a PE ratio of 96.98 and a beta of 0.39. The firm’s 50-day moving average is $38.93 and its 200 day moving average is $40.01. Under Armour has a one year low of $31.61 and a one year high of $50.62.
Under Armour (NYSE:UA) last announced its quarterly earnings results on Tuesday, July 26th. The apparel retailer reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by $0.01. The firm had revenue of $1 million for the quarter, compared to analyst estimates of $995.14 million. Under Armour had a net margin of 5.24% and a return on equity of 13.79%. The company’s revenue was up 27.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS. On average, equities analysts expect that Under Armour will post $0.58 EPS for the current fiscal year.
In related news, insider Matthew C. Mirchin sold 16,015 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $42.92, for a total transaction of $687,363.80. Following the sale, the insider now owns 29,869 shares of the company’s stock, valued at $1,281,977.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CRO Karl-Heinz Maurath sold 54,632 shares of the stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $43.34, for a total value of $2,367,750.88. Following the sale, the executive now directly owns 25,840 shares in the company, valued at approximately $1,119,905.60. The disclosure for this sale can be found here. Corporate insiders own 16.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Carnick & Kubik LLC bought a new stake in Under Armour during the first quarter worth approximately $140,000. Tredje AP fonden raised its stake in Under Armour by 710.0% in the second quarter. Tredje AP fonden now owns 4,050 shares of the apparel retailer’s stock worth $163,000 after buying an additional 3,550 shares during the last quarter. Geduld E E bought a new stake in Under Armour during the second quarter worth approximately $201,000. Boothbay Fund Management LLC bought a new stake in Under Armour during the first quarter worth approximately $204,000. Finally, Prospera Financial Services Inc raised its stake in Under Armour by 34.9% in the second quarter. Prospera Financial Services Inc now owns 5,121 shares of the apparel retailer’s stock worth $206,000 after buying an additional 1,325 shares during the last quarter. 36.57% of the stock is currently owned by institutional investors and hedge funds.
Under Armour Company Profile
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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