Under Armour, Inc. (NYSE:UAA) Price Target Cut to $19.00

Under Armour, Inc. (NYSE:UAA) had its price objective lowered by Morgan Stanley from $20.00 to $19.00 in a report issued on Monday morning. The firm currently has an equal weight rating on the stock.

Several other research firms have also recently weighed in on UAA. Wedbush initiated coverage on Under Armour in a research report on Tuesday, April 11th. They set a neutral rating and a $18.00 price objective on the stock. Nomura cut their price objective on Under Armour from $15.00 to $13.00 and set a reduce rating on the stock in a research report on Wednesday, August 2nd. Credit Suisse Group reaffirmed an underperform rating and set a $17.00 price objective on shares of Under Armour in a research report on Friday, June 16th. Jefferies Group LLC reaffirmed a buy rating and set a $28.00 price objective on shares of Under Armour in a research report on Wednesday, June 21st. Finally, Citigroup Inc. cut Under Armour from a buy rating to a neutral rating and cut their price objective for the company from $25.00 to $21.00 in a research report on Wednesday, August 2nd. Twelve investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $23.29.

Shares of Under Armour (NYSE UAA) traded down 0.64% on Monday, reaching $18.59. The company’s stock had a trading volume of 1,378,945 shares. The company’s 50 day moving average price is $20.21 and its 200 day moving average price is $20.67. The company has a market cap of $8.20 billion, a P/E ratio of 37.63 and a beta of -0.07. Under Armour has a 12-month low of $17.92 and a 12-month high of $43.85.

Under Armour (NYSE:UAA) last posted its quarterly earnings data on Tuesday, August 1st. The company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Under Armour had a return on equity of 10.93% and a net margin of 4.38%. Under Armour’s revenue was up 8.7% on a year-over-year basis. Analysts forecast that Under Armour will post $0.38 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Sector Pension investment Board acquired a new position in shares of Under Armour during the second quarter worth approximately $437,000. D.A. Davidson & CO. acquired a new position in shares of Under Armour during the second quarter worth approximately $118,000. UBS Asset Management Americas Inc. acquired a new position in shares of Under Armour during the second quarter worth approximately $11,283,000. Mutual of America Capital Management LLC acquired a new position in shares of Under Armour during the second quarter worth approximately $480,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Under Armour during the second quarter worth approximately $8,658,000. 29.27% of the stock is owned by hedge funds and other institutional investors.

Under Armour Company Profile

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.

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