Morgan Stanley Reaffirms “Underweight” Rating for Under Armour Inc. (UA)
Under Armour Inc. (NYSE:UA)‘s stock had its “underweight” rating reaffirmed by research analysts at Morgan Stanley in a research report issued to clients and investors on Tuesday. They currently have a $31.00 target price on the apparel retailer’s stock. Morgan Stanley’s price objective indicates a potential downside of 17.62% from the stock’s current price.
A number of other research firms have also issued reports on UA. B. Riley reissued a “buy” rating and issued a $51.00 price target on shares of Under Armour in a research report on Monday, July 25th. Vetr lowered shares of Under Armour from a “buy” rating to a “hold” rating and set a $44.06 price target for the company. in a research report on Thursday, July 21st. Canaccord Genuity set a $65.00 price target on shares of Under Armour and gave the stock a “buy” rating in a research report on Thursday, July 21st. Cowen and Company reissued an “outperform” rating and issued a $46.00 price target on shares of Under Armour in a research report on Monday, August 15th. Finally, Brean Capital reissued a “hold” rating on shares of Under Armour in a research report on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $54.60.
Under Armour (NYSE:UA) traded up 1.81% during trading on Tuesday, hitting $38.31. 1,908,178 shares of the company were exchanged. The company has a 50-day moving average of $38.93 and a 200-day moving average of $40.01. The company has a market capitalization of $16.75 billion, a price-to-earnings ratio of 98.74 and a beta of 0.39. Under Armour has a 12 month low of $31.61 and a 12 month high of $50.62.
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Under Armour (NYSE:UA) last posted its quarterly earnings data on Tuesday, July 26th. The apparel retailer reported $0.01 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 firm had revenue of $1 million for the quarter, compared to analysts’ expectations of $995.14 million. During the same period in the prior year, the company posted $0.07 earnings per share. Under Armour’s quarterly revenue was up 27.7% compared to the same quarter last year. Analysts forecast that Under Armour will post $0.58 EPS for the current year.
In other Under Armour news, 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 value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Karl-Heinz Maurath sold 54,632 shares of the stock in a transaction dated 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 transaction, the executive now owns 25,840 shares of the company’s stock, valued at $1,119,905.60. The disclosure for this sale can be found here. 16.50% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Prospera Financial Services Inc increased its position in Under Armour by 38.7% in the third quarter. Prospera Financial Services Inc now owns 7,101 shares of the apparel retailer’s stock valued at $275,000 after buying an additional 1,980 shares in the last quarter. City Holding Co. increased its position in Under Armour by 24.5% in the third quarter. City Holding Co. now owns 13,600 shares of the apparel retailer’s stock valued at $526,000 after buying an additional 2,680 shares in the last quarter. Burns J W & Co. Inc. NY increased its position in Under Armour by 70.9% in the third quarter. Burns J W & Co. Inc. NY now owns 28,532 shares of the apparel retailer’s stock valued at $1,104,000 after buying an additional 11,835 shares in the last quarter. Calvert Investment Management Inc. increased its position in Under Armour by 103.1% in the second quarter. Calvert Investment Management Inc. now owns 25,613 shares of the apparel retailer’s stock valued at $1,028,000 after buying an additional 12,999 shares in the last quarter. Finally, Family Management Corp purchased a new position in Under Armour during the second quarter valued at approximately $1,680,000. Hedge funds and other institutional investors own 36.57% of the company’s stock.
Under Armour Company Profile
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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