Under Armour (NYSE:UAA) Shares Up 2.9%

Shares of Under Armour, Inc. (NYSE:UAA) were up 2.9% during trading on Tuesday . The stock traded as high as $7.91 and last traded at $7.91. Approximately 3,181,254 shares changed hands during trading, a decline of 65% from the average daily volume of 9,176,739 shares. The stock had previously closed at $7.69.

Analyst Upgrades and Downgrades

Several analysts recently commented on UAA shares. BMO Capital Markets decreased their price target on shares of Under Armour from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, May 17th. Telsey Advisory Group reiterated a “market perform” rating and issued a $7.00 target price on shares of Under Armour in a research note on Monday, August 5th. JPMorgan Chase & Co. cut shares of Under Armour from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $8.00 to $6.00 in a research note on Thursday, May 16th. Barclays lifted their target price on shares of Under Armour from $6.00 to $8.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, Morgan Stanley cut shares of Under Armour from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $8.00 to $4.00 in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.50.

Under Armour Price Performance

The stock’s 50-day moving average is $7.24 and its 200-day moving average is $7.22. The firm has a market cap of $3.43 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 3.53 and a beta of 1.65. The company has a quick ratio of 1.08, a current ratio of 1.73 and a debt-to-equity ratio of 0.33.

Under Armour (NYSE:UAA) last announced its earnings results on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. Under Armour had a negative net margin of 1.35% and a positive return on equity of 11.98%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm posted $0.02 earnings per share. Under Armour’s revenue was down 10.1% compared to the same quarter last year. As a group, equities analysts anticipate that Under Armour, Inc. will post 0.22 EPS for the current fiscal year.

Under Armour declared that its Board of Directors has initiated a share buyback program on Thursday, May 16th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 16.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Under Armour

Several institutional investors and hedge funds have recently bought and sold shares of the business. Maven Securities LTD increased its holdings in Under Armour by 11.8% in the 2nd quarter. Maven Securities LTD now owns 1,341,798 shares of the company’s stock valued at $8,950,000 after buying an additional 141,556 shares during the period. Disciplined Growth Investors Inc. MN increased its holdings in Under Armour by 1.3% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,412,643 shares of the company’s stock valued at $36,102,000 after buying an additional 70,731 shares during the period. Algert Global LLC bought a new stake in Under Armour in the 2nd quarter valued at $127,000. Lombard Odier Asset Management USA Corp bought a new stake in Under Armour in the 2nd quarter valued at $316,000. Finally, ProShare Advisors LLC bought a new stake in Under Armour in the 2nd quarter valued at $119,000. Institutional investors own 34.58% of the company’s stock.

Under Armour Company Profile

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.