Traders Sell Under Armour Inc. (UA) on Strength on Analyst Downgrade
Investors sold shares of Under Armour Inc. (NYSE:UA) on strength during trading on Monday after Stifel Nicolaus lowered their price target on the stock from $33.00 to $28.00. $54.75 million flowed into the stock on the tick-up and $76.42 million flowed out of the stock on the tick-down, for a money net flow of $21.67 million out of the stock. Of all equities tracked, Under Armour had the 0th highest net out-flow for the day. Under Armour traded up $0.57 for the day and closed at $31.17
Several other equities research analysts have also recently issued reports on UA. B. Riley restated a “buy” rating and issued a $51.00 target price on shares of Under Armour in a report on Monday, October 24th. Canaccord Genuity set a $65.00 target price on shares of Under Armour and gave the stock a “buy” rating in a report on Saturday, September 17th. Bank of America Corp. set a $54.00 target price on shares of Under Armour and gave the stock a “buy” rating in a report on Saturday, September 17th. Mizuho set a $52.00 target price on shares of Under Armour and gave the stock a “buy” rating in a report on Friday, October 21st. Finally, Nomura began coverage on shares of Under Armour in a report on Tuesday, September 13th. They issued a “neutral” rating and a $38.00 target price on the stock. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $46.68.
Institutional investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC boosted its position in Under Armour by 65.2% in the first quarter. Nuveen Asset Management LLC now owns 36,172 shares of the apparel retailer’s stock worth $1,585,000 after buying an additional 14,276 shares in the last quarter. Arizona State Retirement System boosted its position in Under Armour by 1.0% in the first quarter. Arizona State Retirement System now owns 49,300 shares of the apparel retailer’s stock worth $4,182,000 after buying an additional 500 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in Under Armour during the first quarter worth approximately $204,000. Patten & Patten Inc. TN purchased a new position in Under Armour during the second quarter worth approximately $386,000. Finally, City Holding Co. boosted its position in Under Armour by 144.6% in the second quarter. City Holding Co. now owns 10,920 shares of the apparel retailer’s stock worth $438,000 after buying an additional 6,455 shares in the last quarter. 34.85% of the stock is owned by hedge funds and other institutional investors.
The company has a 50-day moving average price of $33.47 and a 200-day moving average price of $37.88. The stock has a market capitalization of $13.66 billion, a PE ratio of 69.27 and a beta of 0.16.
Under Armour (NYSE:UA) last posted its quarterly earnings data on Tuesday, October 25th. The apparel retailer reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.04. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.05 billion. Under Armour had a net margin of 5.53% and a return on equity of 14.60%. The company’s revenue was up 22.1% compared to the same quarter last year. During the same period last year, the firm posted $0.45 earnings per share. Equities analysts predict that Under Armour Inc. will post $0.60 earnings per share for the current year.
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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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