Wells Fargo & Company Cuts Under Armour (NYSE:UAA) Price Target to $7.00

Under Armour (NYSE:UAA) had its target price lowered by Wells Fargo & Company from $8.00 to $7.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities analysts also recently commented on the stock. TheStreet raised shares of Under Armour from a d+ rating to a c- rating in a report on Thursday, February 8th. Williams Trading reaffirmed a hold rating and set a $8.00 price objective on shares of Under Armour in a report on Thursday, March 14th. Evercore ISI reaffirmed an underperform rating and set a $7.00 price objective (down from $8.00) on shares of Under Armour in a report on Thursday, March 14th. Telsey Advisory Group reaffirmed a market perform rating and set a $9.00 price objective on shares of Under Armour in a report on Thursday, March 14th. Finally, BNP Paribas reiterated a neutral rating on shares of Under Armour in a research report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, Under Armour presently has a consensus rating of Hold and an average price target of $8.55.

Under Armour Price Performance

Shares of Under Armour stock opened at $6.80 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.13 and a quick ratio of 1.38. Under Armour has a fifty-two week low of $6.29 and a fifty-two week high of $9.50. The firm has a fifty day moving average price of $7.51 and a two-hundred day moving average price of $7.75. The company has a market cap of $2.96 billion, a PE ratio of 7.56, a price-to-earnings-growth ratio of 1.17 and a beta of 1.64.

Under Armour (NYSE:UAA) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.08. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. Under Armour had a net margin of 6.98% and a return on equity of 13.85%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the firm earned $0.16 EPS. Analysts expect that Under Armour will post 0.52 EPS for the current year.

Institutional Investors Weigh In On Under Armour

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC boosted its stake in shares of Under Armour by 101.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,760 shares of the company’s stock valued at $28,000 after purchasing an additional 1,890 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of Under Armour by 43.3% in the 4th quarter. Global Retirement Partners LLC now owns 6,769 shares of the company’s stock valued at $59,000 after purchasing an additional 2,044 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Under Armour by 9.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 25,345 shares of the company’s stock valued at $174,000 after purchasing an additional 2,138 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Under Armour by 119.2% in the 3rd quarter. Signaturefd LLC now owns 4,090 shares of the company’s stock valued at $28,000 after purchasing an additional 2,224 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Under Armour by 6.3% in the 4th quarter. Raymond James & Associates now owns 38,387 shares of the company’s stock valued at $337,000 after purchasing an additional 2,281 shares during the last quarter. Institutional investors and hedge funds own 34.58% of the company’s stock.

About Under Armour

Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes performance apparel, footwear, and accessories for men, women, and youth. The company provides its apparel in compression, fitted, and loose fit types. It also offers footwear products for running, training, basketball, cleated sports, recovery, and outdoor applications.