Vetr Inc. Lowers Under Armour Inc. (UA) to Buy
Under Armour Inc. (NYSE:UA) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Tuesday. They currently have a $41.41 target price on the apparel retailer’s stock. Vetr‘s price objective would indicate a potential upside of 8.63% from the stock’s current price.
UA has been the topic of a number of other reports. Canaccord Genuity reiterated a “buy” rating and issued a $65.00 price objective on shares of Under Armour in a research report on Sunday, September 11th. Guggenheim began coverage on Under Armour in a research report on Friday, September 30th. They issued a “buy” rating and a $38.60 price target on the stock. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Under Armour in a research report on Wednesday, September 28th. Argus lowered Under Armour from a “buy” rating to a “hold” rating and raised their price target for the stock from $31.61 to $41.56 in a research report on Wednesday, August 31st. Finally, Robert W. Baird restated an “outperform” rating and issued a $55.00 price target on shares of Under Armour in a research report on Sunday, September 25th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-three have assigned a buy rating to the company. Under Armour has a consensus rating of “Buy” and an average target price of $56.26.
Shares of Under Armour (NYSE:UA) traded down 0.42% on Tuesday, reaching $38.12. The company’s stock had a trading volume of 3,523,510 shares. The company’s 50 day moving average is $39.45 and its 200-day moving average is $40.13. Under Armour has a 1-year low of $31.61 and a 1-year high of $50.80. The stock has a market cap of $16.67 billion, a PE ratio of 98.25 and a beta of 0.39.
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Under Armour (NYSE:UA) last announced its quarterly earnings data on Tuesday, July 26th. The apparel retailer reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.01. The firm earned $1 million during the quarter, compared to the consensus estimate of $995.14 million. Under Armour had a net margin of 5.24% and a return on equity of 13.79%. The firm’s quarterly revenue was up 27.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.07 earnings per share. On average, equities analysts predict that Under Armour will post $0.58 earnings per share for the current fiscal year.
In other news, Director Byron K. Adams, Jr. sold 34,726 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $40.00, for a total transaction of $1,389,040.00. Following the completion of the transaction, the director now directly owns 46,293 shares in the company, valued at $1,851,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas E. Coltharp sold 6,648 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $41.78, for a total transaction of $277,753.44. Following the transaction, the director now owns 61,720 shares of the company’s stock, valued at $2,578,661.60. The disclosure for this sale can be found here. Insiders own 16.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in UA. Ngam Advisors L.P. increased its position in shares of Under Armour by 16.3% in the first quarter. Ngam Advisors L.P. now owns 61,806 shares of the apparel retailer’s stock valued at $2,709,000 after buying an additional 8,653 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of Under Armour by 58.9% in the first quarter. TIAA CREF Investment Management LLC now owns 668,593 shares of the apparel retailer’s stock valued at $56,717,000 after buying an additional 247,929 shares during the period. Teachers Advisors Inc. increased its position in shares of Under Armour by 2.1% in the first quarter. Teachers Advisors Inc. now owns 213,801 shares of the apparel retailer’s stock valued at $18,137,000 after buying an additional 4,492 shares during the period. Prudential Financial Inc. increased its position in shares of Under Armour by 1.6% in the first quarter. Prudential Financial Inc. now owns 222,896 shares of the apparel retailer’s stock valued at $18,908,000 after buying an additional 3,590 shares during the period. Finally, BlackRock Group LTD increased its position in shares of Under Armour by 2.4% in the first quarter. BlackRock Group LTD now owns 1,335,006 shares of the apparel retailer’s stock valued at $113,249,000 after buying an additional 30,658 shares during the period. Institutional investors own 36.56% of the company’s stock.
About Under Armour
Under Armour, Inc is engaged in the development, marketing and distribution of branded performance apparel, footwear and accessories for men, women and youth. The Company’s segments include North America, consisting of the United States and Canada; Europe, the Middle East and Africa (EMEA); Asia-Pacific; Latin America, and Connected Fitness.
To view Vetr’s full report, visit Vetr’s official website.
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