Canaccord Genuity Cuts Under Armour, Inc. (UAA) Price Target to $18.00
Under Armour, Inc. (NYSE:UAA) had its target price reduced by stock analysts at Canaccord Genuity from $21.00 to $18.00 in a report issued on Wednesday, MarketBeat reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price target suggests a potential downside of 1.69% from the stock’s current price.
UAA has been the topic of several other research reports. Vetr upgraded shares of Under Armour from a “buy” rating to a “strong-buy” rating and set a $22.90 price target on the stock in a research report on Monday, May 15th. Zacks Investment Research upgraded shares of Under Armour from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Tuesday, July 4th. OTR Global restated a “negative” rating on shares of Under Armour in a research report on Tuesday, July 18th. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Under Armour in a research report on Tuesday, April 25th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $27.00 price objective on shares of Under Armour in a research report on Thursday, April 6th. Thirteen research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and six have issued a buy rating to the company. Under Armour has a consensus rating of “Hold” and an average price target of $23.32.
Shares of Under Armour (NYSE UAA) traded up 0.93% during midday trading on Wednesday, reaching $18.48. The company’s stock had a trading volume of 967,952 shares. The stock’s 50 day moving average is $20.76 and its 200 day moving average is $21.02. The stock has a market capitalization of $8.14 billion, a PE ratio of 37.41 and a beta of -0.07. Under Armour has a 12 month low of $18.01 and a 12 month high of $43.85.
Under Armour (NYSE:UAA) last posted its quarterly earnings results on Tuesday, August 1st. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. Under Armour had a net margin of 4.38% and a return on equity of 10.93%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts forecast that Under Armour will post $0.38 EPS for the current fiscal year.
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In other news, Director William R. Mcdermott sold 4,799 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $21.40, for a total transaction of $102,698.60. Following the completion of the transaction, the director now owns 59,657 shares of the company’s stock, valued at $1,276,659.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kerry D. Chandler sold 5,921 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $21.38, for a total transaction of $126,590.98. Following the transaction, the insider now directly owns 12,803 shares of the company’s stock, valued at approximately $273,728.14. The disclosure for this sale can be found here. Insiders have sold 15,519 shares of company stock valued at $331,652 in the last ninety days. 16.40% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Advisors Inc. bought a new position in shares of Under Armour during the second quarter worth approximately $124,000. Municipal Employees Retirement System of Michigan acquired a new stake in Under Armour during the second quarter worth $129,000. Global X Management Co. LLC acquired a new stake in Under Armour during the second quarter worth $134,000. Private Capital Management Inc. acquired a new stake in Under Armour during the second quarter worth $141,000. Finally, Horan Capital Management acquired a new stake in Under Armour during the second quarter worth $150,000. 29.43% of the stock is 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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