Under Armour Inc. (UA) Shares Down 4.5%
Under Armour Inc. (NYSE:UA) was down 4.5% on Wednesday . The stock traded as low as $39.68 and last traded at $39.68, with a volume of 3,104,112 shares changing hands. The stock had previously closed at $41.56.
Several equities research analysts recently weighed in on UA shares. Cowen and Company reissued an “outperform” rating and set a $46.00 price objective on shares of Under Armour in a report on Monday, August 15th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Under Armour in a research report on Wednesday, August 10th. Citigroup Inc. lowered their target price on Under Armour from $56.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, June 1st. DA Davidson reaffirmed a “buy” rating and set a $48.00 target price (down from $55.00) on shares of Under Armour in a research report on Friday, June 3rd. Finally, 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 report on Wednesday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Under Armour currently has a consensus rating of “Buy” and a consensus target price of $60.85.
The stock has a 50-day moving average of $41.17 and a 200 day moving average of $40.61. The company has a market capitalization of $17.00 billion and a P/E ratio of 100.219.
Under Armour (NYSE:UA) last issued its earnings results on Tuesday, July 26th. The apparel retailer reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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. The company’s revenue was up 27.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.07 EPS. Equities research analysts predict that Under Armour Inc. will post $0.58 EPS for the current fiscal year.
In related news, Director Byron K. Adams, Jr. sold 34,726 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were 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 $1,851,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Douglas E. Coltharp sold 6,648 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $41.78, for a total transaction of $277,753.44. Following the completion of the sale, the director now owns 61,720 shares in the company, valued at approximately $2,578,661.60. The disclosure for this sale can be found here.
A number of large investors recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its stake 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 in the last quarter. State of Tennessee Treasury Department boosted its stake 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 in the last quarter. Finally, KBC Group NV boosted its stake 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 in 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.