Morgan Stanley Reaffirms “Underweight” Rating for Under Armour Inc. (UA)
Under Armour Inc. (NYSE:UA)‘s stock had its “underweight” rating reiterated by stock analysts at Morgan Stanley in a research note issued on Tuesday. They currently have a $31.00 target price on the apparel retailer’s stock. Morgan Stanley’s price target points to a potential downside of 17.62% from the company’s previous close.
Several other research firms have also commented on UA. Cowen and Company reiterated an “outperform” rating and issued a $46.00 price target on shares of Under Armour in a research report on Monday, August 15th. Deutsche Bank AG reiterated a “buy” rating on shares of Under Armour in a research report on Wednesday, August 10th. Vetr lowered Under Armour from a “strong-buy” rating to a “buy” rating and set a $41.41 price target for the company. in a research report on Tuesday, October 11th. Argus lowered Under Armour from a “buy” rating to a “hold” rating and lifted their price target for the stock from $31.61 to $41.56 in a research report on Wednesday, August 31st. Finally, B. Riley reissued a “buy” rating and issued a $51.00 price objective on shares of Under Armour in a research note on Saturday, July 30th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Under Armour currently has a consensus rating of “Buy” and an average price target of $54.60.
Under Armour (NYSE:UA) traded up 1.81% during trading on Tuesday, hitting $38.31. The stock had a trading volume of 1,908,178 shares. The company has a market cap of $16.75 billion, a price-to-earnings ratio of 98.74 and a beta of 0.39. Under Armour has a 52 week low of $31.61 and a 52 week high of $50.62. The company has a 50-day moving average of $38.93 and a 200 day moving average of $40.01.
Under Armour (NYSE:UA) last released its quarterly earnings results on Tuesday, July 26th. The apparel retailer reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The company earned $1 million during the quarter, compared to analysts’ expectations of $995.14 million. Under Armour had a return on equity of 13.79% and a net margin of 5.24%. The company’s revenue was up 27.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 EPS. On average, equities research analysts anticipate that Under Armour will post $0.58 EPS for the current year.
In other news, Director Douglas E. Coltharp sold 6,648 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $41.78, for a total value of $277,753.44. Following the completion of the sale, the director now owns 61,720 shares of the company’s stock, valued at approximately $2,578,661.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Matthew C. Mirchin sold 16,015 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $42.92, for a total transaction of $687,363.80. Following the completion of the sale, the insider now directly owns 29,869 shares of the company’s stock, valued at approximately $1,281,977.48. The disclosure for this sale can be found here. 16.50% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Boothbay Fund Management LLC bought a new position in Under Armour during the first quarter worth $204,000. Canada Pension Plan Investment Board boosted its position in Under Armour by 92.3% in the first quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the apparel retailer’s stock worth $212,000 after buying an additional 1,200 shares during the last quarter. Mariner Wealth Advisors LLC boosted its position in Under Armour by 8.6% in the first quarter. Mariner Wealth Advisors LLC now owns 3,018 shares of the apparel retailer’s stock worth $256,000 after buying an additional 240 shares during the last quarter. Tredje AP fonden boosted its position in Under Armour by 710.0% in the second quarter. Tredje AP fonden now owns 4,050 shares of the apparel retailer’s stock worth $163,000 after buying an additional 3,550 shares during the last quarter. Finally, Geduld E E bought a new position in Under Armour during the second quarter worth $201,000. 36.57% 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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