Under Armour Inc. (UA) Stock Price Down 4.5%
Under Armour Inc. (NYSE:UA)’s share price fell 4.5% during mid-day trading on Wednesday . The company traded as low as $39.68 and last traded at $39.68, with a volume of 3,104,112 shares traded. The stock had previously closed at $41.56.
A number of brokerages recently issued reports on UA. Argus lowered Under Armour from a “buy” rating to a “hold” rating and raised their target price for the stock from $31.61 to $41.56 in a research note on Wednesday. Vetr upgraded Under Armour from a “buy” rating to a “strong-buy” rating and set a $47.89 price objective for the company in a research note on Thursday, August 25th. William Blair reiterated an “outperform” rating on shares of Under Armour in a research note on Thursday, August 18th. Brean Capital reiterated a “hold” rating on shares of Under Armour in a research note on Tuesday, August 16th. Finally, Cowen and Company reiterated an “outperform” rating and set a $46.00 price objective on shares of Under Armour in a research note on Monday, August 15th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Under Armour currently has a consensus rating of “Buy” and an average target price of $60.85.
The company’s 50 day moving average is $41.28 and its 200-day moving average is $40.62. The stock has a market cap of $17.33 billion and a PE ratio of 102.14.
Under Armour (NYSE:UA) last issued its quarterly earnings data on Tuesday, July 26th. The apparel retailer reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.01. During the same period in the prior year, the firm earned $0.07 earnings per share. The company earned $1 million during the quarter, compared to the consensus estimate of $995.14 million. Under Armour’s revenue for the quarter was up 27.7% compared to the same quarter last year. On average, equities research analysts forecast that Under Armour Inc. will post $0.58 earnings per share for the current year.
In other Under Armour news, Director Byron K. Adams, Jr. sold 34,726 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew C. Mirchin sold 16,015 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $42.92, for a total value of $687,363.80. Following the sale, the insider now directly owns 29,869 shares of the company’s stock, valued at approximately $1,281,977.48. The disclosure for this sale can be found here.
Several institutional investors have added to or reduced their stakes in the company. Stephens Inc. AR raised its position in Under Armour by 36.2% in the fourth quarter. Stephens Inc. AR now owns 12,481 shares of the apparel retailer’s stock worth $1,006,000 after buying an additional 3,319 shares during the period. State of Tennessee Treasury Department raised its position in 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 worth $10,084,000 after buying an additional 22,498 shares during the period. BNP Paribas Arbitrage SA raised its position in Under Armour by 167.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 42,234 shares of the apparel retailer’s stock worth $3,404,000 after buying an additional 26,422 shares during the period. Finally, KBC Group NV raised its position in Under Armour by 313.0% in the fourth quarter. KBC Group NV now owns 38,762 shares of the apparel retailer’s stock worth $3,125,000 after buying an additional 29,376 shares during the period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.