Under Armour Inc. (UA) Upgraded to “Overweight” at Piper Jaffray Cos.
Under Armour Inc. (NYSE:UA) was upgraded by investment analysts at Piper Jaffray Cos. from a “neutral” rating to an “overweight” rating in a report released on Thursday, The Fly reports.
A number of other research analysts also recently issued reports on UA. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Under Armour in a report on Wednesday, June 15th. Canaccord Genuity restated a “buy” rating and set a $65.00 price target on shares of Under Armour in a report on Friday, June 17th. Brean Capital reaffirmed a “hold” rating on shares of Under Armour in a research report on Thursday, June 16th. Buckingham Research raised Under Armour from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $37.22 to $37.85 in a research report on Monday, June 20th. Finally, Zacks Investment Research raised Under Armour from a “sell” rating to a “hold” rating in a research report on Monday, June 27th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the company’s stock. Under Armour presently has an average rating of “Buy” and a consensus price target of $56.26.
Shares of Under Armour (NYSE:UA) traded down 0.88% during mid-day trading on Thursday, hitting $38.18. The stock had a trading volume of 2,946,282 shares. The firm has a market cap of $16.70 billion, a PE ratio of 98.40 and a beta of 0.39. Under Armour has a 52-week low of $32.03 and a 52-week high of $50.72. The stock’s 50-day moving average price is $39.31 and its 200-day moving average price is $40.12.
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Under Armour (NYSE:UA) last announced its quarterly earnings results on Tuesday, July 26th. The apparel retailer reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by $0.01. Under Armour had a net margin of 5.24% and a return on equity of 13.79%. The business had revenue of $1 million for the quarter, compared to analysts’ expectations of $995.14 million. During the same quarter in the prior year, the firm earned $0.07 EPS. The firm’s revenue for the quarter was up 27.7% on a year-over-year basis. On average, analysts anticipate that Under Armour will post $0.58 earnings per share for the current fiscal year.
In related news, insider Matthew C. Mirchin sold 16,015 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $42.92, for a total value of $687,363.80. Following the sale, the insider now directly owns 29,869 shares of the company’s stock, valued at approximately $1,281,977.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Byron K. Adams, Jr. sold 34,726 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $40.00, for a total transaction of $1,389,040.00. Following the completion of the sale, the director now directly owns 46,293 shares in the company, valued at $1,851,720. The disclosure for this sale can be found here. 16.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of UA. Carnick & Kubik LLC purchased a new stake in Under Armour during the first quarter worth $140,000. Lowe FS raised its stake in Under Armour by 30.1% in the third quarter. Lowe FS now owns 2,394 shares of the apparel retailer’s stock worth $232,000 after buying an additional 554 shares during the period. Boothbay Fund Management LLC purchased a new stake in Under Armour during the first quarter worth $204,000. Adell Harriman & Carpenter Inc. purchased a new stake in Under Armour during the first quarter worth $212,000. Finally, Canada Pension Plan Investment Board raised its stake in Under Armour by 92.3% in the first quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the apparel retailer’s stock worth $212,000 after buying an additional 1,200 shares during the period. 36.56% of the stock is currently owned by institutional investors.
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.
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