Under Armour Inc. (NYSE:UA) was upgraded by investment analysts at Wells Fargo & Co. from a “market perform” rating to an “outperform” rating in a report issued on Thursday. The firm presently has a $45.00 price target on the apparel retailer’s stock, up from their prior price target of $31.61. Wells Fargo & Co.’s price objective points to a potential upside of 18.05% from the stock’s previous close.
A number of other research analysts have also recently commented on the company. Guggenheim began coverage on Under Armour in a research note on Friday, September 30th. They set a “buy” rating and a $38.60 target price on the stock. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Under Armour in a research note on Wednesday, September 28th. Robert W. Baird reaffirmed an “outperform” rating and set a $55.00 target price on shares of Under Armour in a research note on Sunday, September 25th. Brean Capital reaffirmed a “hold” rating on shares of Under Armour in a research note on Thursday, September 22nd. Finally, Canaccord Genuity set a $65.00 target price on Under Armour and gave the company a “buy” rating in a research note on Saturday, September 17th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $56.70.
Shares of Under Armour (NYSE:UA) traded down 0.42% on Thursday, reaching $38.12. The company’s stock had a trading volume of 3,523,510 shares. The firm has a 50-day moving average price of $39.45 and a 200 day moving average price of $40.13. The firm has a market capitalization of $16.67 billion, a PE ratio of 98.25 and a beta of 0.39. Under Armour has a one year low of $31.61 and a one year high of $50.80.
Under Armour (NYSE:UA) last released its earnings results on Tuesday, July 26th. The apparel retailer reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $1 million for the quarter, compared to the consensus estimate of $995.14 million. Under Armour had a net margin of 5.24% and a return on equity of 13.79%. The company’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS. On average, analysts anticipate that Under Armour will post $0.58 earnings per share for the current fiscal year.
In other news, insider Matthew C. Mirchin sold 16,015 shares of Under Armour stock in a transaction that occurred on Thursday, August 25th. The shares were 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 approximately $1,281,977.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Karl-Heinz Maurath sold 54,632 shares of Under Armour stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $43.34, for a total transaction 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. 16.50% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. City Holding Co. raised its stake in Under Armour by 24.5% in the third quarter. City Holding Co. now owns 13,600 shares of the apparel retailer’s stock valued at $526,000 after buying an additional 2,680 shares during the last quarter. Burns J W & Co. Inc. NY raised its stake in Under Armour by 70.9% in the third quarter. Burns J W & Co. Inc. NY now owns 28,532 shares of the apparel retailer’s stock valued at $1,104,000 after buying an additional 11,835 shares during the last quarter. Calvert Investment Management Inc. raised its stake in Under Armour by 103.1% in the second quarter. Calvert Investment Management Inc. now owns 25,613 shares of the apparel retailer’s stock valued at $1,028,000 after buying an additional 12,999 shares during the last quarter. Family Management Corp purchased a new stake in Under Armour during the second quarter valued at approximately $1,680,000. Finally, Mirador Capital Partners LP purchased a new stake in Under Armour during the second quarter valued at approximately $1,115,000. 36.56% of the stock is currently owned by hedge funds and other institutional investors.
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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