Under Armour Inc. (UA) Upgraded to “Overweight” by Piper Jaffray Cos.
Under Armour Inc. (NYSE:UA) was upgraded by Piper Jaffray Cos. from a “neutral” rating to an “overweight” rating in a research report issued on Thursday, The Fly reports.
Several other equities analysts have also commented on UA. B. Riley reaffirmed a “buy” rating and set a $51.00 target price on shares of Under Armour in a report on Monday, July 25th. Deutsche Bank AG reissued a “buy” rating on shares of Under Armour in a report on Sunday, July 17th. Morgan Stanley reissued a “sell” rating on shares of Under Armour in a report on Saturday, July 9th. Canaccord Genuity set a $65.00 price objective on Under Armour and gave the stock a “buy” rating in a report on Saturday, September 17th. Finally, Bank of America Corp. set a $54.00 price objective on Under Armour and gave the stock a “buy” rating in a report on Saturday, September 17th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $56.26.
Under Armour (NYSE:UA) traded down 0.88% during mid-day trading on Thursday, hitting $38.18. The stock had a trading volume of 2,955,715 shares. Under Armour has a 12-month low of $32.03 and a 12-month high of $50.72. The stock has a market cap of $16.70 billion, a price-to-earnings ratio of 98.40 and a beta of 0.39. The company has a 50-day moving average of $39.31 and a 200-day moving average of $40.12.
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Under Armour (NYSE:UA) last announced its quarterly earnings data on Tuesday, July 26th. The apparel retailer reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 earnings per share. On average, analysts anticipate that Under Armour will post $0.58 earnings per share for the current fiscal year.
In related news, CRO Karl-Heinz Maurath sold 54,632 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $43.34, for a total value of $2,367,750.88. Following the completion of the sale, the executive now owns 25,840 shares of the company’s stock, valued at $1,119,905.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Douglas E. Coltharp sold 6,648 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $41.78, for a total transaction of $277,753.44. Following the completion of the sale, the director now directly owns 61,720 shares of the company’s stock, valued at approximately $2,578,661.60. The disclosure for this sale can be found here. Insiders own 16.50% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. raised its stake in shares of Under Armour by 211.1% in the second quarter. Baillie Gifford & Co. now owns 13,941,697 shares of the apparel retailer’s stock worth $559,480,000 after buying an additional 9,460,529 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Under Armour by 13,607.6% in the first quarter. Wellington Management Group LLP now owns 1,863,417 shares of the apparel retailer’s stock worth $158,073,000 after buying an additional 1,849,823 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Under Armour by 318.8% in the first quarter. UBS Asset Management Americas Inc. now owns 1,672,152 shares of the apparel retailer’s stock worth $141,848,000 after buying an additional 1,272,879 shares in the last quarter. 1832 Asset Management L.P. raised its stake in shares of Under Armour by 374.7% in the first quarter. 1832 Asset Management L.P. now owns 908,100 shares of the apparel retailer’s stock worth $127,093,000 after buying an additional 716,800 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Under Armour by 829.1% in the first quarter. Renaissance Technologies LLC now owns 712,600 shares of the apparel retailer’s stock worth $60,450,000 after buying an additional 635,900 shares in the last quarter. 36.56% of the stock is owned by institutional investors and hedge funds.
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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