Under Armour (UAA) Trading Up 6.9% Following Strong Earnings

Under Armour Inc (NYSE:UAA) shares were up 6.9% during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $22.55 and last traded at $22.21. Approximately 30,866,455 shares traded hands during mid-day trading, an increase of 477% from the average daily volume of 5,352,895 shares. The stock had previously closed at $20.78.

The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. Under Armour had a negative net margin of 2.68% and a positive return on equity of 3.96%. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.38 billion. The business’s revenue was up 1.5% compared to the same quarter last year.

Several analysts have weighed in on the stock. UBS Group reissued a “neutral” rating and set a $23.00 target price (up previously from $21.00) on shares of Under Armour in a research report on Wednesday. Zacks Investment Research raised shares of Under Armour from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Saturday, January 5th. Pivotal Research reiterated a “hold” rating and issued a $22.00 target price (down from $24.00) on shares of Under Armour in a research note on Thursday, February 7th. B. Riley restated a “sell” rating and set a $12.00 price objective on shares of Under Armour in a research report on Tuesday, February 5th. Finally, Stifel Nicolaus upped their price objective on shares of Under Armour from $27.00 to $30.00 and gave the stock a “sell” rating in a research report on Monday, November 5th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $22.01.

Several institutional investors and hedge funds have recently made changes to their positions in UAA. Bremer Trust National Association acquired a new stake in shares of Under Armour during the 4th quarter valued at approximately $32,000. Penserra Capital Management LLC grew its stake in shares of Under Armour by 235.9% in the fourth quarter. Penserra Capital Management LLC now owns 4,528 shares of the company’s stock worth $80,000 after purchasing an additional 3,180 shares in the last quarter. First Mercantile Trust Co. bought a new position in shares of Under Armour in the fourth quarter worth $99,000. Exane Derivatives boosted its stake in Under Armour by 15,240.0% during the third quarter. Exane Derivatives now owns 6,903 shares of the company’s stock valued at $148,000 after buying an additional 6,858 shares in the last quarter. Finally, Dupont Capital Management Corp bought a new position in Under Armour during the fourth quarter valued at about $123,000. 38.05% of the stock is currently owned by institutional investors.

The company has a market cap of $10.13 billion, a price-to-earnings ratio of 114.63, a PEG ratio of 2.73 and a beta of 0.42. The company has a quick ratio of 1.09, a current ratio of 1.99 and a debt-to-equity ratio of 0.35.

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Under Armour Company Profile (NYSE:UAA)

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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