Wells Fargo & Co upgraded shares of Under Armour (NYSE:UA) from an underperform rating to a market perform rating in a report issued on Friday morning, The Fly reports. Wells Fargo & Co currently has $23.00 target price on the stock.
A number of other equities analysts also recently issued reports on the company. ValuEngine upgraded Under Armour from a hold rating to a buy rating in a research note on Saturday, September 22nd. Canaccord Genuity set a $12.00 price target on Under Armour and gave the stock a sell rating in a research note on Friday, October 26th. TheStreet upgraded Under Armour from a d+ rating to a c- rating in a research note on Tuesday, October 30th. Pivotal Research set a $20.00 price target on Under Armour and gave the stock a hold rating in a research note on Friday, October 26th. Finally, Cowen set a $21.00 price target on Under Armour and gave the stock a hold rating in a research note on Tuesday, October 30th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $17.43.
UA stock opened at $22.53 on Friday. The firm has a market capitalization of $10.01 billion, a PE ratio of 118.58 and a beta of -0.54. Under Armour has a 1 year low of $11.37 and a 1 year high of $23.28.
In related news, CFO David Bergman sold 2,500 shares of Under Armour stock in a transaction on Friday, November 30th. The stock was sold at an average price of $22.00, for a total transaction of $55,000.00. Following the transaction, the chief financial officer now directly owns 157,666 shares in the company, valued at $3,468,652. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 16.00% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE raised its holdings in Under Armour by 88.4% during the second quarter. US Bancorp DE now owns 8,459 shares of the company’s stock valued at $178,000 after acquiring an additional 3,969 shares during the period. Stratos Wealth Partners LTD. bought a new stake in Under Armour during the third quarter valued at about $184,000. Strs Ohio raised its holdings in Under Armour by 338.1% during the second quarter. Strs Ohio now owns 9,554 shares of the company’s stock valued at $201,000 after acquiring an additional 7,373 shares during the period. Paloma Partners Management Co bought a new stake in Under Armour during the third quarter valued at about $196,000. Finally, Financial Counselors Inc. bought a new stake in Under Armour during the third quarter valued at about $203,000. Institutional investors own 28.49% of the company’s stock.
Under Armour Company Profile
Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes branded performance apparel, footwear, and accessories for men, women, and youth primarily in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. The company offers its apparel in compression, fitted, and loose types to be worn in hot, cold, and in between the extremes.
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