Jefferies Group LLC Reaffirms Buy Rating for Under Armour Inc (UA)
Under Armour Inc (NYSE:UA)‘s stock had its “buy” rating reaffirmed by research analysts at Jefferies Group LLC in a note issued to investors on Friday. They currently have a $28.00 price target on the stock. Jefferies Group LLC’s price objective indicates a potential upside of 56.77% from the stock’s previous close.
A number of other brokerages have also issued reports on UA. Canaccord Genuity reissued a “hold” rating and set a $21.00 target price on shares of Under Armour in a research note on Thursday, April 27th. Vetr lowered shares of Under Armour from a “strong-buy” rating to a “buy” rating and set a $20.98 target price for the company. in a research note on Thursday, April 27th. Stifel Nicolaus reissued a “hold” rating and set a $19.00 target price on shares of Under Armour in a research note on Friday, April 28th. Zacks Investment Research raised shares of Under Armour from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Saturday, April 29th. Finally, Wells Fargo & Co reissued a “market perform” rating and set a $19.00 target price (up from $17.00) on shares of Under Armour in a research note on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $20.14.
Shares of Under Armour (NYSE:UA) opened at 17.86 on Friday. Under Armour has a 52-week low of $17.05 and a 52-week high of $42.94. The stock has a market capitalization of $7.86 billion and a PE ratio of 45.10. The stock has a 50 day moving average of $18.46 and a 200 day moving average of $21.70.
Under Armour (NYSE:UA) last issued its earnings results on Thursday, April 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Analysts forecast that Under Armour will post $0.42 earnings per share for the current year.
In related news, Director William R. Mcdermott sold 4,717 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $19.85, for a total value of $93,632.45. Following the completion of the sale, the director now directly owns 66,270 shares of the company’s stock, valued at $1,315,459.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kerry D. Chandler sold 5,965 shares of the company’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $19.79, for a total transaction of $118,047.35. Following the completion of the sale, the insider now directly owns 114,108 shares of the company’s stock, valued at $2,258,197.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,399 shares of company stock valued at $304,605.
Hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in Under Armour by 3.3% in the first quarter. Pacer Advisors Inc. now owns 6,936 shares of the company’s stock worth $137,000 after buying an additional 220 shares during the period. Private Capital Management Inc. acquired a new stake in Under Armour during the first quarter worth $158,000. Compton Capital Management Inc. RI raised its stake in Under Armour by 1.5% in the first quarter. Compton Capital Management Inc. RI now owns 10,156 shares of the company’s stock worth $201,000 after buying an additional 150 shares during the period. Peloton Wealth Strategists acquired a new stake in Under Armour during the third quarter worth $203,000. Finally, First Financial Equity Corporation acquired a new stake in Under Armour during the first quarter worth $225,000.
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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