Under Armour, Inc. (UAA) Lowered to Sell at Canaccord Genuity
Canaccord Genuity lowered shares of Under Armour, Inc. (NYSE:UAA) from a hold rating to a sell rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm currently has $8.00 price target on the stock, down from their prior price target of $15.00.
Several other research firms have also commented on UAA. Morgan Stanley lowered their price target on shares of Under Armour from $20.00 to $19.00 and set an equal weight rating on the stock in a research report on Monday, August 7th. Wedbush reiterated a neutral rating and issued a $17.00 price target (down from $18.00) on shares of Under Armour in a research report 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 objective on the stock. in a research note on Wednesday, August 9th. Nomura reduced their price objective on shares of Under Armour from $15.00 to $13.00 and set a reduce rating on the stock in a research note on Wednesday, August 2nd. Finally, Sanford C. Bernstein initiated coverage on shares of Under Armour in a research note on Tuesday, September 12th. They set an underperform rating and a $14.00 price objective on the stock. Nineteen analysts have rated the stock with a sell rating, nineteen have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $17.18.
Shares of Under Armour (UAA) traded down $0.17 on Wednesday, reaching $11.61. 10,353,795 shares of the company’s stock traded hands, compared to its average volume of 9,276,444. The firm has a market capitalization of $5,119.86, a price-to-earnings ratio of 28.32, a P/E/G ratio of 3.44 and a beta of -0.15. Under Armour has a one year low of $11.45 and a one year high of $33.45. The company has a quick ratio of 1.07, a current ratio of 2.23 and a debt-to-equity ratio of 0.37.
Under Armour (NYSE:UAA) last released its quarterly earnings results on Tuesday, October 31st. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. Under Armour had a net margin of 2.94% and a return on equity of 9.32%. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. sell-side analysts predict that Under Armour will post 0.2 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in UAA. Nomura Asset Management Co. Ltd. bought a new stake in shares of Under Armour in the 1st quarter worth approximately $405,000. Private Asset Management Inc. purchased a new position in shares of Under Armour in the second quarter worth approximately $923,000. DnB Asset Management AS purchased a new position in shares of Under Armour in the second quarter worth approximately $405,000. Xact Kapitalforvaltning AB purchased a new position in shares of Under Armour in the second quarter worth approximately $474,000. Finally, Burns J W & Co. Inc. NY purchased a new position in shares of Under Armour in the second quarter worth approximately $480,000. Institutional investors and hedge funds own 30.43% of the company’s stock.
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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