Shares of Under Armour, Inc. (NYSE:UAA) fell 3.9% during trading on Wednesday after Buckingham Research lowered their price target on the stock from $14.00 to $10.00. Buckingham Research currently has an underperform rating on the stock. Under Armour traded as low as $12.48 and last traded at $12.03. 15,732,851 shares traded hands during mid-day trading, an increase of 196% from the average session volume of 5,315,940 shares. The stock had previously closed at $12.52.
A number of other research firms have also recently issued reports on UAA. Zacks Investment Research upgraded shares of Under Armour from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Tuesday, July 4th. Susquehanna Bancshares Inc raised their price target on shares of Under Armour from $14.00 to $17.00 in a research report on Friday, July 7th. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Under Armour in a research report on Friday, July 7th. Vetr raised shares of Under Armour from a “hold” rating to a “buy” rating and set a $22.36 price target on the stock in a research report on Monday, July 10th. Finally, OTR Global reaffirmed a “negative” rating on shares of Under Armour in a research report on Tuesday, July 18th. Eighteen analysts have rated the stock with a sell rating, twenty-one have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $17.65.
Large investors have recently modified their holdings of the stock. D.A. Davidson & CO. purchased a new position in shares of Under Armour in the 2nd quarter worth about $118,000. Cornerstone Advisors Inc. purchased a new position in shares of Under Armour in the 2nd quarter worth about $124,000. Municipal Employees Retirement System of Michigan purchased a new position in shares of Under Armour in the 2nd quarter worth about $129,000. WFG Advisors LP purchased a new position in shares of Under Armour in the 2nd quarter worth about $132,000. Finally, Global X Management Co. LLC purchased a new position in shares of Under Armour in the 2nd quarter worth about $134,000. 30.43% of the stock is currently owned by institutional investors.
The firm has a 50-day moving average price of $16.59 and a 200 day moving average price of $18.86. The company has a market cap of $5.34 billion, a P/E ratio of 24.51 and a beta of -0.02.
Under Armour (NYSE:UAA) last released its quarterly earnings results on Tuesday, October 31st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.03. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. Under Armour had a return on equity of 10.93% and a net margin of 4.38%. Under Armour’s quarterly revenue was down 4.5% on a year-over-year basis. On average, analysts predict that Under Armour, Inc. will post $0.37 earnings per share for the current fiscal year.
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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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