Zacks Investment Research upgraded shares of Under Armour, Inc. (NYSE:UAA) from a sell rating to a hold rating in a research report released on Friday morning.
According to Zacks, “Shares of Under Armour have not only seen a steep decline in a year but have also underperformed the industry by a wide margin. Despite reporting an earnings beat in the third quarter, the stock failed to recover as investors’ sentiments were hurt by a conservative sales guidance for 2017. Moreover, the decline in sales in North America has been a major concern for investors in the past few quarters. It now expects net revenues in 2017 to rise low-single digits, down from the earlier estimate of an increase of 9-11% over the 2016 level. We also observe that, of late, earnings estimates have witnessed downward revisions. Nevertheless, 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.”
A number of other analysts have also recently issued reports on the company. Jefferies Group LLC reissued a buy rating and set a $28.00 price objective on shares of Under Armour in a research report on Thursday, September 7th. UBS AG raised Under Armour to a neutral rating in a research report on Tuesday, November 7th. Wells Fargo & Company reissued a market perform rating and set a $17.00 price objective on shares of Under Armour in a research report on Wednesday, August 2nd. Sanford C. Bernstein started coverage on Under Armour in a research report on Tuesday, September 12th. They set an underperform rating and a $14.00 price objective for the company. Finally, Piper Jaffray Companies reduced their price objective on Under Armour from $17.00 to $14.00 and set an average rating for the company in a research report on Wednesday, October 11th. Seventeen analysts have rated the stock with a sell rating, twenty-one have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $17.04.
Under Armour (NYSE UAA) traded up $0.32 on Friday, reaching $13.08. The company had a trading volume of 7,955,143 shares, compared to its average volume of 5,597,390. The firm has a market capitalization of $5,330.00, a PE ratio of 29.63, a price-to-earnings-growth ratio of 3.60 and a beta of 0.03. Under Armour has a 52-week low of $11.40 and a 52-week high of $33.45. The company has a current ratio of 2.23, a quick ratio of 1.16 and a debt-to-equity ratio of 0.37.
Under Armour (NYSE:UAA) last released its quarterly earnings data on Tuesday, October 31st. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Under Armour had a return on equity of 9.32% and a net margin of 2.94%. The business’s revenue was down 4.5% on a year-over-year basis. research analysts forecast that Under Armour will post 0.2 earnings per share for the current year.
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Several institutional investors and hedge funds have recently made changes to their positions in the company. Aldebaran Financial Inc. lifted its holdings in Under Armour by 8.3% during the 2nd quarter. Aldebaran Financial Inc. now owns 27,310 shares of the company’s stock worth $594,000 after buying an additional 2,090 shares in the last quarter. Nationwide Fund Advisors lifted its holdings in Under Armour by 6.8% during the 3rd quarter. Nationwide Fund Advisors now owns 52,432 shares of the company’s stock worth $864,000 after buying an additional 3,338 shares in the last quarter. Van Hulzen Asset Management LLC lifted its holdings in Under Armour by 42.5% during the 3rd quarter. Van Hulzen Asset Management LLC now owns 17,100 shares of the company’s stock worth $282,000 after buying an additional 5,100 shares in the last quarter. IFP Advisors Inc lifted its holdings in Under Armour by 5.6% during the 3rd quarter. IFP Advisors Inc now owns 97,318 shares of the company’s stock worth $1,604,000 after buying an additional 5,148 shares in the last quarter. Finally, D.A. Davidson & CO. acquired a new position in Under Armour during the 2nd quarter worth $118,000. 30.35% of the stock is currently owned by institutional investors and hedge funds.
Under Armour Company Profile
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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