Under Armour, Inc. (UAA) Cut to “Underperform” at Wells Fargo & Company
Wells Fargo & Company downgraded shares of Under Armour, Inc. (NYSE:UAA) from a market perform rating to an underperform rating in a research report released on Tuesday morning, Marketbeat Ratings reports. Wells Fargo & Company currently has $13.00 price objective on the stock, down from their previous price objective of $17.00.
A number of other equities analysts also recently weighed in on UAA. Wedbush reaffirmed a neutral rating and issued a $17.00 price target (down from $18.00) on shares of Under Armour in a research note on Tuesday, August 8th. Vetr downgraded shares of Under Armour from a sell rating to a strong sell rating and set a $16.68 price target on the stock. in a research note on Wednesday, August 9th. Zacks Investment Research downgraded shares of Under Armour from a hold rating to a sell rating in a research note on Friday, August 4th. Telsey Advisory Group reaffirmed a market perform rating and issued a $18.00 price target (down from $21.00) on shares of Under Armour in a research note on Tuesday, August 8th. Finally, Jefferies Group LLC reaffirmed a buy rating and issued a $28.00 price target on shares of Under Armour in a research note on Friday, August 11th. Thirteen research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have given a buy rating to the company’s stock. Under Armour currently has a consensus rating of Hold and a consensus target price of $21.15.
Shares of Under Armour (UAA) opened at 16.41 on Tuesday. The firm has a market cap of $7.24 billion, a PE ratio of 33.22 and a beta of -0.04. The stock’s 50 day moving average price is $17.60 and its 200 day moving average price is $19.55. Under Armour has a 12-month low of $15.92 and a 12-month high of $40.14. Under Armour also was the target of unusually large options trading activity on Wednesday. Traders acquired 21,500 call options on the company. This is an increase of 563% compared to the typical daily volume of 3,242 call options.
Under Armour (NYSE:UAA) last posted its quarterly earnings results on Tuesday, August 1st. The company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.03. Under Armour had a net margin of 4.38% and a return on equity of 10.93%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities research analysts predict that Under Armour will post $0.38 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of UAA. D.A. Davidson & CO. acquired a new stake in shares of Under Armour during the second quarter worth approximately $118,000. Cornerstone Advisors Inc. acquired a new stake in shares of Under Armour during the second quarter worth approximately $124,000. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Under Armour during the second quarter worth approximately $129,000. WFG Advisors LP acquired a new stake in shares of Under Armour during the second quarter worth approximately $132,000. Finally, Global X Management Co. LLC acquired a new stake in shares of Under Armour during the second quarter worth approximately $134,000. 30.48% of the stock is owned by institutional investors.
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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