Under Armour Inc. (UA) Stock Rating Upgraded by 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 report sent to investors on Wednesday. They currently have $45.00 target price on the apparel retailer’s stock, up from their previous target price of $40.00.
Several other equities research analysts have also weighed in on the company. Oppenheimer Holdings Inc. reiterated a hold rating on shares of Under Armour in a research note on Wednesday, June 15th. Canaccord Genuity reiterated a buy rating and issued a $65.00 price objective on shares of Under Armour in a research note on Friday, June 17th. Brean Capital reiterated a hold rating on shares of Under Armour in a research note on Thursday, June 16th. Buckingham Research upgraded Under Armour from a neutral rating to a buy rating and upped their price objective for the company from $37.22 to $37.85 in a research note on Monday, June 20th. Finally, Zacks Investment Research upgraded Under Armour from a sell rating to a hold rating in a research note on Monday, June 27th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Under Armour has a consensus rating of Buy and an average target price of $54.64.
Shares of Under Armour (NYSE:UA) opened at 37.63 on Wednesday. Under Armour has a 52 week low of $31.61 and a 52 week high of $50.62. The firm’s 50-day moving average price is $38.93 and its 200 day moving average price is $40.01. The company has a market cap of $16.46 billion, a P/E ratio of 96.98 and a beta of 0.39.
Under Armour (NYSE:UA) last posted its quarterly earnings results on Tuesday, July 26th. The apparel retailer reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by $0.01. The firm earned $1 million during 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% on a year-over-year basis. During the same period last year, the company earned $0.07 EPS. On average, equities analysts predict that Under Armour will post $0.58 EPS for the current fiscal year.
In other news, Director Douglas E. Coltharp sold 6,648 shares of Under Armour stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $41.78, for a total value of $277,753.44. Following the completion of the sale, the director now directly owns 61,720 shares in the company, valued at $2,578,661.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Byron K. Adams, Jr. sold 34,726 shares of Under Armour stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $40.00, for a total transaction of $1,389,040.00. Following the completion of the sale, the director now owns 46,293 shares of the company’s stock, valued at $1,851,720. The disclosure for this sale can be found here. Company insiders own 16.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Ngam Advisors L.P. increased its stake 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 worth $2,709,000 after buying an additional 8,653 shares during the last quarter. Teachers Advisors Inc. increased its stake in Under Armour by 2.1% in the first quarter. Teachers Advisors Inc. now owns 213,801 shares of the apparel retailer’s stock worth $18,137,000 after buying an additional 4,492 shares during the last quarter. Prudential Financial Inc. increased its stake in Under Armour by 1.6% in the first quarter. Prudential Financial Inc. now owns 222,896 shares of the apparel retailer’s stock worth $18,908,000 after buying an additional 3,590 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in Under Armour during the first quarter worth $1,557,000. Finally, Menta Capital LLC acquired a new stake in Under Armour during the first quarter worth $713,000. Institutional investors own 36.57% 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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