Under Armour, Inc. (NYSE:UAA)‘s stock had its “neutral” rating reissued by investment analysts at Wedbush in a research note issued on Wednesday. They presently have a $11.00 price objective on the stock, down from their previous price objective of $17.00.
A number of other brokerages have also weighed in on UAA. Morgan Stanley reduced their price target on Under Armour from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, August 7th. Vetr lowered Under Armour from a “sell” rating to a “strong sell” rating and set a $16.68 price target on the stock. in a research note on Wednesday, August 9th. Nomura reduced their price target on Under Armour from $15.00 to $13.00 and set a “reduce” rating on the stock in a research note on Wednesday, August 2nd. Sanford C. Bernstein initiated coverage on Under Armour in a research note on Tuesday, September 12th. They set an “underperform” rating and a $14.00 price target on the stock. Finally, Citigroup Inc. lowered Under Armour from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $25.00 to $21.00 in a research note on Wednesday, August 2nd. Nineteen research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $17.18.
Under Armour (NYSE:UAA) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. Under Armour had a return on equity of 9.32% and a net margin of 2.94%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. The company’s quarterly revenue was down 4.5% on a year-over-year basis.
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A number of hedge funds have recently modified their holdings of UAA. D.A. Davidson & CO. acquired a new position in Under Armour in the second quarter valued at approximately $118,000. Cornerstone Advisors Inc. bought a new stake in shares of Under Armour during the second quarter valued at approximately $124,000. Municipal Employees Retirement System of Michigan bought a new stake in shares of Under Armour during the second quarter valued at approximately $129,000. WFG Advisors LP bought a new stake in shares of Under Armour during the second quarter valued at approximately $132,000. Finally, Global X Management Co. LLC bought a new stake in shares of Under Armour during the second quarter valued at approximately $134,000. Institutional investors own 30.43% of the company’s stock.
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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