Piper Jaffray Companies Reiterates $32.00 Price Target for Under Armour (UA)
Several other analysts also recently weighed in on UA. Wells Fargo & Co upgraded Under Armour from an underperform rating to a market perform rating and set a $23.00 price objective for the company in a research report on Friday, November 30th. Cowen set a $21.00 price objective on Under Armour and gave the company a hold rating in a research report on Tuesday, October 30th. Morgan Stanley set a $21.00 price objective on Under Armour and gave the company a hold rating in a research report on Tuesday, November 27th. TheStreet upgraded Under Armour from a d+ rating to a c- rating in a research report on Tuesday, October 30th. Finally, Canaccord Genuity set a $13.00 price objective on Under Armour and gave the company a sell rating in a research report on Thursday, November 1st. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $17.43.
NYSE:UA traded down $0.36 during mid-day trading on Thursday, reaching $22.22. The stock had a trading volume of 78,352 shares, compared to its average volume of 2,851,456. The company has a market capitalization of $9.85 billion, a price-to-earnings ratio of 118.16 and a beta of -0.52. Under Armour has a one year low of $11.41 and a one year high of $23.28.
In other Under Armour news, CFO David Bergman sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $22.00, for a total value of $55,000.00. Following the completion of the sale, the chief financial officer now owns 157,666 shares in the company, valued at $3,468,652. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in UA. American Century Companies Inc. bought a new position in shares of Under Armour during the second quarter valued at approximately $63,668,000. Victory Capital Management Inc. raised its holdings in shares of Under Armour by 187.5% during the third quarter. Victory Capital Management Inc. now owns 1,445,502 shares of the company’s stock valued at $28,129,000 after acquiring an additional 942,714 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Under Armour by 22.5% during the second quarter. Janus Henderson Group PLC now owns 5,088,607 shares of the company’s stock valued at $107,267,000 after acquiring an additional 934,098 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in Under Armour by 233.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 1,000,000 shares of the company’s stock worth $19,460,000 after purchasing an additional 700,000 shares during the period. Finally, FMR LLC grew its stake in Under Armour by 30.2% in the second quarter. FMR LLC now owns 2,362,624 shares of the company’s stock worth $49,803,000 after purchasing an additional 548,557 shares during the period. Institutional investors own 28.49% of the company’s stock.
About Under Armour
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, cold, and in between the extremes.
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