Wedbush Lowers Under Armour, Inc. (UAA) to Sell
Under Armour, Inc. (NYSE:UAA) was downgraded by analysts at Wedbush from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
A number of other equities analysts have also recently commented on UAA. FBR & Co reissued an “underperform” rating and issued a $14.00 price target on shares of Under Armour in a research note on Wednesday, August 2nd. Vetr cut shares of Under Armour from a “strong-buy” rating to a “hold” rating and set a $21.02 price target for the company. in a research note on Monday, July 17th. Telsey Advisory Group cut their price target on shares of Under Armour from $21.00 to $18.00 and set a “market perform” rating for the company in a research note on Wednesday, August 2nd. Citigroup Inc. cut their price target on shares of Under Armour to $14.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Canaccord Genuity cut shares of Under Armour from a “hold” rating to a “sell” rating and cut their price target for the stock from $15.00 to $8.00 in a research note on Wednesday. Nineteen analysts have rated the stock with a sell rating, twenty have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $17.24.
Under Armour (NYSE:UAA) last posted its earnings results on Tuesday, October 31st. The company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. Under Armour had a net margin of 2.94% and a return on equity of 9.32%. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year.
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A number of large investors have recently added to or reduced their stakes in UAA. Aldebaran Financial Inc. boosted its holdings in shares of Under Armour by 8.3% during the 2nd quarter. Aldebaran Financial Inc. now owns 27,310 shares of the company’s stock valued at $594,000 after acquiring an additional 2,090 shares during the last quarter. Nationwide Fund Advisors boosted its holdings in shares of Under Armour by 6.8% during the 3rd quarter. Nationwide Fund Advisors now owns 52,432 shares of the company’s stock valued at $864,000 after acquiring an additional 3,338 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Under Armour by 5.6% during the 3rd quarter. IFP Advisors Inc now owns 97,318 shares of the company’s stock valued at $1,604,000 after acquiring an additional 5,148 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in shares of Under Armour during the 2nd quarter valued at about $118,000. Finally, Cornerstone Advisors Inc. purchased a new stake in shares of Under Armour during the 2nd quarter valued at about $124,000. Institutional investors and hedge funds own 30.43% 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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