Sanford C. Bernstein reaffirmed their underperform rating on shares of Under Armour, Inc. (NYSE:UAA) in a research note released on Wednesday morning. Sanford C. Bernstein currently has a $9.00 price target on the stock, down from their prior price target of $14.00.
Other equities analysts also recently issued reports about the stock. Wells Fargo & Company decreased their price target on shares of Under Armour to $11.00 and set an underperform rating on the stock in a research note on Tuesday. Zacks Investment Research upgraded shares of Under Armour from a hold rating to a buy rating and set a $24.00 price target on the stock in a research note on Tuesday, July 4th. OTR Global restated a negative rating on shares of Under Armour in a research note on Tuesday, July 18th. Credit Suisse Group restated an underperform rating and issued a $17.00 price target on shares of Under Armour in a research note on Wednesday, August 2nd. Finally, Raymond James Financial, Inc. restated an underperform rating on shares of Under Armour in a research note on Friday, July 7th. Nineteen analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $17.18.
Under Armour (NYSE:UAA) last released its quarterly earnings data on Tuesday, October 31st. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.03. Under Armour had a net margin of 2.94% and a return on equity of 9.32%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.49 billion. The firm’s quarterly revenue was down 4.5% on a year-over-year basis.
Several hedge funds have recently made changes to their positions in the company. Daiwa Securities Group Inc. grew its position in shares of Under Armour by 13.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 63,240 shares of the company’s stock worth $1,041,000 after buying an additional 7,408 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Under Armour during the 3rd quarter worth approximately $692,000. Andra AP fonden acquired a new stake in shares of Under Armour during the 3rd quarter worth approximately $532,000. IFP Advisors Inc grew its position in shares of Under Armour by 5.6% during the 3rd quarter. IFP Advisors Inc now owns 97,318 shares of the company’s stock worth $1,604,000 after buying an additional 5,148 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in shares of 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 buying an additional 12,500 shares during the period. 30.43% of the stock is owned by 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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