Under Armour Inc. (UA) Upgraded by Wells Fargo & Co. to “Outperform”
Under Armour Inc. (NYSE:UA) was upgraded by analysts at Wells Fargo & Co. from a “market perform” rating to an “outperform” rating in a research note issued to investors on Wednesday. The firm currently has a $45.00 price objective on the apparel retailer’s stock, up from their previous price objective of $40.00. Wells Fargo & Co.’s target price indicates a potential upside of 18.05% from the stock’s previous close.
Several other research analysts have also recently commented on the company. Canaccord Genuity reissued a “buy” rating and set a $65.00 target price on shares of Under Armour in a research note on Sunday, September 11th. Zacks Investment Research raised Under Armour from a “sell” rating to a “hold” rating in a research note on Monday, June 27th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Under Armour in a research note on Wednesday, September 28th. William Blair reissued an “outperform” rating on shares of Under Armour in a research note on Thursday, August 18th. Finally, Susquehanna initiated coverage on Under Armour in a research note on Friday, August 12th. They set a “positive” rating and a $42.00 target price for the company. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $56.26.
Under Armour (NYSE:UA) opened at 38.12 on Wednesday. Under Armour has a 12 month low of $31.61 and a 12 month high of $50.80. The stock has a market cap of $16.67 billion, a price-to-earnings ratio of 98.25 and a beta of 0.39. The firm’s 50-day moving average price is $39.45 and its 200 day moving average price is $40.13.
Under Armour (NYSE:UA) last posted its quarterly earnings data on Tuesday, July 26th. The apparel retailer reported $0.01 earnings per share (EPS) 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 analysts’ expectations of $995.14 million. Under Armour had a net margin of 5.24% and a return on equity of 13.79%. Under Armour’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 EPS. On average, analysts anticipate that Under Armour will post $0.58 earnings per share for the current year.
In related news, Director Byron K. Adams, Jr. sold 34,726 shares of the stock in a transaction on 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 transaction, the director now directly owns 46,293 shares of the company’s stock, valued at approximately $1,851,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas E. Coltharp sold 6,648 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $41.78, for a total value of $277,753.44. Following the completion of the transaction, the director now directly owns 61,720 shares in the company, valued at $2,578,661.60. The disclosure for this sale can be found here. 16.50% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of UA. Baillie Gifford & Co. raised its position in Under Armour by 211.1% in the second quarter. Baillie Gifford & Co. now owns 13,941,697 shares of the apparel retailer’s stock valued at $559,480,000 after buying an additional 9,460,529 shares during the period. Wellington Management Group LLP raised its position in 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 valued at $158,073,000 after buying an additional 1,849,823 shares during the period. UBS Asset Management Americas Inc. raised its position in 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 valued at $141,848,000 after buying an additional 1,272,879 shares during the period. 1832 Asset Management L.P. raised its position in 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 valued at $127,093,000 after buying an additional 716,800 shares during the period. Finally, Renaissance Technologies LLC raised its position in Under Armour by 829.1% in the first quarter. Renaissance Technologies LLC now owns 712,600 shares of the apparel retailer’s stock valued at $60,450,000 after buying an additional 635,900 shares during the period. 36.56% of the stock is currently owned by institutional investors and hedge funds.
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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