Under Armour Inc. (UA) Raised to “Outperform” at Wells Fargo & Co.
Wells Fargo & Co. upgraded shares of Under Armour Inc. (NYSE:UA) from a market perform rating to an outperform rating in a research note published on Thursday morning. The firm currently has $45.00 price objective on the apparel retailer’s stock, up from their prior price objective of $31.61.
Other research analysts have also issued reports about the stock. Canaccord Genuity set a $65.00 target price on shares of Under Armour and gave the company a buy rating in a report on Thursday, July 21st. B. Riley reissued a buy rating and issued a $51.00 target price on shares of Under Armour in a report on Wednesday, July 20th. DA Davidson reissued a buy rating and issued a $48.00 target price on shares of Under Armour in a report on Monday, July 18th. Deutsche Bank AG reissued a buy rating on shares of Under Armour in a report on Sunday, July 17th. Finally, Buckingham Research raised shares of Under Armour from a neutral rating to a buy rating and raised their target price for the company from $37.22 to $37.85 in a report on Monday, June 20th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-three have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $56.26.
Under Armour (NYSE:UA) opened at 38.12 on Thursday. The company has a market capitalization of $16.67 billion, a price-to-earnings 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. The firm has a 50-day moving average of $39.45 and a 200 day moving average of $40.13.
Under Armour (NYSE:UA) last released its quarterly earnings data on Tuesday, July 26th. The apparel retailer reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.01. The company 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS. Equities research analysts predict that Under Armour will post $0.58 earnings per share for the current fiscal year.
In other Under Armour news, Director Byron K. Adams, Jr. sold 34,726 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 46,293 shares in the company, valued at approximately $1,851,720. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CRO Karl-Heinz Maurath sold 54,632 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $43.34, for a total value of $2,367,750.88. Following the completion of the sale, the executive now 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 owned by company insiders.
A number of large investors have recently added to or reduced their stakes in UA. Carnick & Kubik LLC bought a new stake in Under Armour during the first quarter valued at approximately $140,000. Tredje AP fonden increased its position in shares of Under Armour by 710.0% in the second quarter. Tredje AP fonden now owns 4,050 shares of the apparel retailer’s stock valued at $163,000 after buying an additional 3,550 shares during the last quarter. Geduld E E acquired a new position in shares of Under Armour during the second quarter valued at $201,000. Boothbay Fund Management LLC acquired a new position in shares of Under Armour during the first quarter valued at $204,000. Finally, Prospera Financial Services Inc increased its position in shares of Under Armour by 34.9% in the second quarter. Prospera Financial Services Inc now owns 5,121 shares of the apparel retailer’s stock valued at $206,000 after buying an additional 1,325 shares during the last quarter. Institutional investors and hedge funds own 36.56% of the company’s stock.
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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