Under Armour (UA) Shares Gap Up to $20.70
Under Armour Inc (NYSE:UA) gapped up prior to trading on Monday . The stock had previously closed at $21.39, but opened at $20.70. Under Armour shares last traded at $20.89, with a volume of 303547 shares changing hands.
UA has been the topic of several research analyst reports. Pivotal Research reissued a “hold” rating and set a $23.00 target price on shares of Under Armour in a research report on Tuesday, April 30th. Canaccord Genuity set a $13.00 target price on Under Armour and gave the stock a “sell” rating in a research report on Tuesday, March 19th. B. Riley set a $12.00 target price on Under Armour and gave the stock a “sell” rating in a research report on Tuesday, April 9th. ValuEngine lowered Under Armour from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. raised Under Armour from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $23.00 to $29.00 in a research report on Friday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $20.50.
The company has a debt-to-equity ratio of 0.58, a current ratio of 2.02 and a quick ratio of 1.22. The firm has a market cap of $9.29 billion, a P/E ratio of 77.26 and a beta of 1.00.
In other news, insider Paul Fipps sold 23,247 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $19.49, for a total value of $453,084.03. Following the completion of the sale, the insider now directly owns 362,784 shares of the company’s stock, valued at approximately $7,070,660.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 15.90% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of UA. FMR LLC raised its holdings in Under Armour by 161.2% during the fourth quarter. FMR LLC now owns 4,528,755 shares of the company’s stock worth $73,230,000 after purchasing an additional 2,794,611 shares during the last quarter. Baillie Gifford & Co. raised its holdings in Under Armour by 23.7% during the fourth quarter. Baillie Gifford & Co. now owns 4,443,253 shares of the company’s stock worth $71,847,000 after purchasing an additional 851,765 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Under Armour by 3,827.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 812,138 shares of the company’s stock worth $50,000 after purchasing an additional 791,457 shares during the last quarter. BlackRock Inc. raised its holdings in Under Armour by 6.6% during the fourth quarter. BlackRock Inc. now owns 12,335,009 shares of the company’s stock worth $199,459,000 after purchasing an additional 763,174 shares during the last quarter. Finally, GMT Capital Corp acquired a new position in Under Armour during the first quarter worth $11,786,000. 32.22% of the stock is owned by hedge funds and other institutional investors.
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About Under Armour (NYSE:UA)
Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes branded performance apparel, footwear, and accessories for men, women, and youth primarily in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. The company offers its apparel in compression, fitted, and loose types to be worn in hot and cold.
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