Under Armour (NYSE:UAA) Downgraded by Oppenheimer to Market Perform

Under Armour (NYSE:UAA) was downgraded by stock analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday, MarketBeat reports.

UAA has been the subject of several other research reports. Wells Fargo & Company decreased their target price on Under Armour from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, May 17th. Citigroup cut their price target on Under Armour from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. BNP Paribas reaffirmed a “neutral” rating on shares of Under Armour in a report on Thursday, March 14th. Bank of America cut their price target on Under Armour from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, May 17th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $8.00 price target on shares of Under Armour in a report on Thursday, May 16th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.32.

Under Armour Stock Performance

UAA opened at $6.95 on Thursday. The company has a market cap of $3.03 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 2.98 and a beta of 1.63. The stock has a 50-day moving average of $6.88 and a 200-day moving average of $7.71. Under Armour has a 52-week low of $6.18 and a 52-week high of $9.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.63 and a current ratio of 2.46.

Under Armour (NYSE:UAA) last announced its earnings results on Thursday, May 16th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.04. Under Armour had a return on equity of 11.95% and a net margin of 4.19%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company earned $0.18 EPS. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, equities research analysts forecast that Under Armour will post 0.23 earnings per share for the current fiscal year.

Under Armour declared that its Board of Directors has approved a share buyback plan on Thursday, May 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 16.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Keener Financial Planning LLC bought a new position in shares of Under Armour in the 4th quarter worth $26,000. Signaturefd LLC boosted its position in shares of Under Armour by 119.2% in the 3rd quarter. Signaturefd LLC now owns 4,090 shares of the company’s stock worth $28,000 after purchasing an additional 2,224 shares during the last quarter. Hexagon Capital Partners LLC boosted its position 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 worth $28,000 after purchasing an additional 1,890 shares during the last quarter. Global Retirement Partners LLC boosted its position 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 worth $59,000 after purchasing an additional 2,044 shares during the last quarter. Finally, M&T Bank Corp bought a new position in shares of Under Armour in the 4th quarter worth $91,000. 34.58% of the stock is currently owned by institutional investors.

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.