Under Armour Hits New 1-Year High on Earnings Beat (UA)
Under Armour (NYSE:UA)’s share price hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement, American Banking & Market News reports. The company traded as high as $70.25 and last traded at $69.48, with a volume of 8,858,250 shares trading hands. The stock had previously closed at $60.63.
The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $610.00 million for the quarter, compared to the consensus estimate of $572.47 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 34.1% on a year-over-year basis.
A number of research firms have recently commented on UA. Analysts at Jefferies Group reiterated a “buy” rating on shares of Under Armour in a research note on Tuesday. Separately, analysts at Zacks upgraded shares of Under Armour from a “neutral” rating to an “outperform” rating in a research note on Monday, July 14th. They now have a $61.60 price target on the stock. Finally, analysts at Sterne Agee raised their price target on shares of Under Armour from $63.00 to $68.00 in a research note on Monday, July 7th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Under Armour has a consensus rating of “Buy” and an average price target of $52.48.
The stock’s 50-day moving average is $58.29 and its 200-day moving average is $53.29. The company has a market cap of $14.863 billion and a price-to-earnings ratio of 78.95.
Under Armour, Inc (NYSE:UA) is engaged in the development, marketing and distribution of apparel, footwear and accessories for men, women and youth.
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