Under Armour (UAA) Rating Increased to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Under Armour (NYSE:UAA) from a sell rating to a hold rating in a report published on Saturday morning.
According to Zacks, “Shares of Under Armour have outperformed the industry in a month. The recent surge in stock price can primarily be attributed to analysts’ optimistic view on company’s 2018 performance. Further, the Under Armour’s sustained focus on brand development, expansion of direct-to-consumer and technology-based fitness business bode well. Earlier, management announced a restructuring plan in order to utilize financial resources more efficiently. This will better cater to the evolving demands of the changing consumer environment. However, the decline in sales in North America has been a major concern for investors in the past few quarters. It now expects 2017 net revenues to rise in low-single digits, down from the earlier estimate of an increase of 9-11% over the 2016 level. We also observe that earnings estimates have witnessed downward revisions.”
Several other brokerages have also recently weighed in on UAA. Stifel Nicolaus upgraded shares of Under Armour from a hold rating to a buy rating and lifted their price target for the stock from $12.00 to $17.00 in a research note on Friday, December 15th. Wedbush restated a neutral rating and set a $11.00 price objective (down from $17.00) on shares of Under Armour in a research report on Wednesday, November 1st. Sanford C. Bernstein started coverage on shares of Under Armour in a research report on Tuesday, September 12th. They set an underperform rating and a $14.00 price objective on the stock. Canaccord Genuity restated a hold rating and set a $15.00 price objective (down from $18.00) on shares of Under Armour in a research report on Thursday, October 12th. Finally, Wells Fargo & Co downgraded shares of Under Armour from a market perform rating to an underperform rating and decreased their price objective for the company from $17.00 to $13.00 in a research report on Tuesday, September 19th. Sixteen equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $17.27.
Shares of Under Armour (UAA) traded up $0.11 during trading on Friday, hitting $15.98. 4,670,000 shares of the stock traded hands, compared to its average volume of 5,430,000. The stock has a market cap of $6,800.00, a PE ratio of 49.94, a PEG ratio of 4.15 and a beta of 0.04. Under Armour has a 1-year low of $11.40 and a 1-year high of $31.06. The company has a quick ratio of 1.16, a current ratio of 2.23 and a debt-to-equity ratio of 0.37.
Under Armour (NYSE:UAA) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Under Armour had a net margin of 2.94% and a return on equity of 9.32%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. equities research analysts expect that Under Armour will post 0.2 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. bought a new stake in Under Armour in the 2nd quarter valued at $532,573,000. Vanguard Group Inc. bought a new stake in Under Armour in the 2nd quarter valued at $393,172,000. BlackRock Inc. bought a new stake in shares of Under Armour in the 2nd quarter worth about $238,861,000. Bamco Inc. NY increased its holdings in shares of Under Armour by 10.8% in the 3rd quarter. Bamco Inc. NY now owns 7,704,996 shares of the company’s stock worth $126,978,000 after buying an additional 750,325 shares during the last quarter. Finally, State Street Corp bought a new stake in shares of Under Armour in the 2nd quarter worth about $157,325,000. Institutional investors own 30.98% of the company’s stock.
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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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