Under Armour (NYSE:UAA) Cut to “Market Perform” at Cowen

Cowen cut shares of Under Armour (NYSE:UAAGet Rating) from an outperform rating to a market perform rating in a research report released on Tuesday, Marketbeat Ratings reports. Cowen currently has $10.00 target price on the stock, down from their prior target price of $13.00.

Several other brokerages have also commented on UAA. Stifel Nicolaus decreased their target price on shares of Under Armour from $18.00 to $13.00 in a research report on Friday, May 6th. Citigroup lowered shares of Under Armour from a buy rating to a neutral rating and decreased their target price for the stock from $19.00 to $10.00 in a research report on Monday, May 23rd. JPMorgan Chase & Co. decreased their target price on shares of Under Armour from $28.00 to $23.00 and set an overweight rating on the stock in a research report on Wednesday, March 9th. Morgan Stanley lowered shares of Under Armour from an overweight rating to an equal weight rating and decreased their target price for the stock from $14.00 to $11.00 in a research report on Thursday, May 19th. Finally, William Blair lowered shares of Under Armour to a hold rating in a research report on Thursday, May 19th. Sixteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $19.87.

NYSE:UAA opened at $9.09 on Tuesday. The firm’s fifty day moving average price is $11.77 and its 200 day moving average price is $16.17. Under Armour has a 1-year low of $8.73 and a 1-year high of $27.28. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.30 and a quick ratio of 1.74. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 19.34 and a beta of 1.27.

Under Armour (NYSE:UAAGet Rating) last issued its earnings results on Friday, May 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.05). The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Under Armour had a return on equity of 16.20% and a net margin of 3.89%. Under Armour’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. As a group, analysts expect that Under Armour will post 0.68 earnings per share for the current fiscal year.

In related news, Director David W. Gibbs acquired 25,000 shares of the company’s stock in a transaction dated Tuesday, May 31st. The stock was bought at an average price of $9.60 per share, with a total value of $240,000.00. Following the purchase, the director now directly owns 50,000 shares in the company, valued at approximately $480,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 16.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Neuberger Berman Group LLC acquired a new position in shares of Under Armour during the 1st quarter valued at about $29,478,000. Golden State Equity Partners acquired a new position in shares of Under Armour during the 1st quarter valued at about $272,000. Cim Investment Management Inc. increased its position in Under Armour by 226.9% during the 1st quarter. Cim Investment Management Inc. now owns 97,117 shares of the company’s stock worth $1,653,000 after purchasing an additional 67,410 shares in the last quarter. Virtu Financial LLC acquired a new stake in Under Armour during the 1st quarter worth approximately $530,000. Finally, Alyeska Investment Group L.P. increased its position in Under Armour by 96.7% during the 1st quarter. Alyeska Investment Group L.P. now owns 7,462,063 shares of the company’s stock worth $127,004,000 after purchasing an additional 3,668,041 shares in the last quarter. 38.72% of the stock is owned by institutional investors.

About Under Armour (Get Rating)

Under Armour, Inc, together with its subsidiaries, engages in the developing, marketing, and distributing performance apparel, footwear, and accessories for men, women, and youth. The company offers its apparel in compression, fitted, and loose fit types. It also provides footwear products for running, training, basketball, cleated sports, recovery, and outdoor applications.

Featured Stories

Analyst Recommendations for Under Armour (NYSE:UAA)

Receive News & Ratings for Under Armour Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Under Armour and related companies with MarketBeat.com's FREE daily email newsletter.