Under Armour Receives “Neutral” Rating from DA Davidson (UA)
Under Armour (NYSE:UA)‘s stock had its “neutral” rating reaffirmed by analysts at DA Davidson in a research report issued to clients and investors on Friday, Analyst Ratings News reports. They currently have a $88.00 target price on the stock, up from their previous target price of $85.00. DA Davidson’s price target would suggest a potential upside of 10.03% from the stock’s previous close.
The analysts wrote, “3Q revenue handily beats consensus, fuels $0.02 EPS upside. UA reported revenue and EPS of $723.1 million and $0.68, compared to consensus of $710.2 million and $0.66 and our estimates of $707.6 million and $0.64. EPS increased 26% year-over-year (y/y) driven by apparel up 26%, footwear up 28% and accessories up 18%. Direct-to-consumer (DTC) sales rose 34% y/y. Gross margin decreased 33bp y/y to 48.4%, primarily driven by higher import duties (-90bp) and higher product costs (-30bp), partially offset by supply chain benefits (+70bp). SG&A of $229.3 million deleveraged to 31.7% (32.9% in 3Q12).”
UA has been the subject of a number of other recent research reports. Analysts at Deutsche Bank raised their price target on shares of Under Armour from $65.00 to $70.00 in a research note to investors on Monday. They now have a “hold” rating on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Under Armour from $76.00 to $92.00 in a research note to investors on Friday, October 18th. They now have a “buy” rating on the stock. Finally, analysts at Telsey Advisory Group raised their price target on shares of Under Armour from $64.00 to $79.00 in a research note to investors on Friday, October 18th. They now have a “not rated” rating on the stock. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Under Armour has a consensus rating of “Hold” and an average price target of $71.67.
Shares of Under Armour (NYSE:UA) traded down 0.69% on Friday, hitting $79.43. The stock had a trading volume of 407,719 shares. Under Armour has a 1-year low of $44.32 and a 1-year high of $81.64. The stock has a 50-day moving average of $72.88 and a 200-day moving average of $60.93. The company has a market cap of $8.379 billion and a P/E ratio of 64.24.
Under Armour (NYSE:UA) last released its earnings data on Thursday, October 24th. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.66 by $0.02. The company had revenue of $723.00 million for the quarter, compared to the consensus estimate of $709.69 million. During the same quarter in the prior year, the company posted $0.54 earnings per share. The company’s quarterly revenue was up 25.7% on a year-over-year basis.
Under Armour, Inc (NYSE:UA) is engaged in the development, marketing and distribution of apparel, footwear and accessories for men, women and youth.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.