Under Armour Inc. (UA) Sees Strong Trading Volume
Under Armour Inc. (NYSE:UA) saw unusually-high trading volume on Friday . Approximately 3,964,915 shares were traded during trading, an increase of 9% from the previous session’s volume of 3,630,874 shares.The stock last traded at $38.90 and had previously closed at $39.75.
UA has been the topic of several analyst reports. Cowen and Company reaffirmed an “outperform” rating and set a $46.00 price target on shares of Under Armour in a report on Monday, August 15th. Deutsche Bank AG reiterated a “buy” rating on shares of Under Armour in a research report on Wednesday, August 10th. Citigroup Inc. reduced their price objective on shares of Under Armour from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, June 1st. DA Davidson reiterated a “buy” rating and set a $48.00 price objective (down previously from $55.00) on shares of Under Armour in a research report on Friday, June 3rd. Finally, Argus cut shares of Under Armour from a “buy” rating to a “hold” rating and lifted their price objective for the company from $31.61 to $41.56 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $60.85.
The firm has a market cap of $16.86 billion and a P/E ratio of 99.38. The firm has a 50-day moving average of $41.09 and a 200 day moving average of $40.60.
Under Armour (NYSE:UA) last announced 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 company earned $1 million during the quarter, compared to the consensus estimate of $995.14 million. During the same period last year, the business earned $0.07 EPS. Under Armour’s revenue for the quarter was up 27.7% compared to the same quarter last year. Analysts expect that Under Armour Inc. will post $0.58 earnings per share for the current year.
In other news, Director Byron K. Adams, Jr. sold 34,726 shares of Under Armour 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Karl-Heinz Maurath sold 54,632 shares of Under Armour stock in a transaction dated 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 completion of the transaction, the executive now owns 25,840 shares of the company’s stock, valued at approximately $1,119,905.60. The disclosure for this sale can be found here.
Several institutional investors recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its position in shares of Under Armour by 167.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 42,234 shares of the apparel retailer’s stock valued at $3,404,000 after buying an additional 26,422 shares during the last quarter. State of Tennessee Treasury Department boosted its position in shares of Under Armour by 21.9% in the fourth quarter. State of Tennessee Treasury Department now owns 125,109 shares of the apparel retailer’s stock valued at $10,084,000 after buying an additional 22,498 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Under Armour by 313.0% in the fourth quarter. KBC Group NV now owns 38,762 shares of the apparel retailer’s stock valued at $3,125,000 after buying an additional 29,376 shares during the last quarter.
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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