Bank of America Corporation downgraded shares of Under Armour Inc (NYSE:UAA) from a neutral rating to an underperform rating in a report issued on Monday. They currently have $12.00 price target on the stock, down from their prior price target of $21.00.
Several other research firms also recently weighed in on UAA. Zacks Investment Research upgraded Under Armour from a hold rating to a buy rating and set a $24.00 target price on the stock in a research report on Tuesday, July 4th. Vetr upgraded Under Armour from a hold rating to a buy rating and set a $22.36 price objective on the stock in a research report on Monday, July 3rd. Susquehanna Bancshares Inc lifted their price objective on Under Armour from $14.00 to $17.00 in a research report on Friday, July 7th. Raymond James Financial, Inc. reiterated an underperform rating on shares of Under Armour in a research report on Friday, July 7th. Finally, OTR Global reiterated a negative rating on shares of Under Armour in a research report on Tuesday, July 18th. Fifteen equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $19.38.
Under Armour (UAA) traded down 17.276% on Monday, reaching $13.575. The company had a trading volume of 20,630,698 shares. The stock’s 50 day moving average is $16.72 and its 200-day moving average is $18.91. The stock has a market capitalization of $5.99 billion, a P/E ratio of 27.480 and a beta of -0.02. Under Armour has a 1-year low of $13.48 and a 1-year high of $33.45.
Under Armour (NYSE:UAA) last released its earnings results on Tuesday, October 31st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.49 billion. Under Armour had a negative return on equity of 2.44% and a negative net margin of 1.13%. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. On average, equities analysts predict that Under Armour will post $0.37 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. IFP Advisors Inc raised its stake in Under Armour by 5.6% during the 3rd quarter. IFP Advisors Inc now owns 97,318 shares of the company’s stock valued at $1,604,000 after acquiring an additional 5,148 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Under Armour by 48.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 38,520 shares of the company’s stock worth $635,000 after purchasing an additional 12,500 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Under Armour during the 3rd quarter worth approximately $251,000. First Trust Advisors LP acquired a new position in Under Armour during the 3rd quarter worth approximately $196,000. Finally, Nationwide Fund Advisors increased its position in Under Armour by 6.8% during the 3rd quarter. Nationwide Fund Advisors now owns 52,432 shares of the company’s stock worth $864,000 after purchasing an additional 3,338 shares during the period. 30.43% of the stock is owned by hedge funds and other institutional investors.
About Under Armour
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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