Under Armour (NYSE:UAA) Sets New 52-Week High on Analyst Upgrade

Under Armour Inc (NYSE:UAA) shares reached a new 52-week high on Thursday after Wells Fargo & Co raised their price target on the stock from $22.00 to $26.00. Wells Fargo & Co currently has a market perform rating on the stock. Under Armour traded as high as $26.69 and last traded at $26.49, with a volume of 82443 shares. The stock had previously closed at $25.98.

Several other research analysts have also weighed in on the stock. Citigroup raised shares of Under Armour from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $23.00 to $29.00 in a research note on Wednesday, April 10th. JPMorgan Chase & Co. raised shares of Under Armour from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $23.00 to $29.00 in a research note on Friday, May 17th. Credit Suisse Group reissued a “neutral” rating and set a $26.00 price objective on shares of Under Armour in a research note on Tuesday, April 30th. ValuEngine raised shares of Under Armour from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd. Finally, Argus reissued a “hold” rating on shares of Under Armour in a research note on Friday, February 22nd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $23.53.

A number of institutional investors and hedge funds have recently made changes to their positions in UAA. Vanguard Group Inc lifted its stake in Under Armour by 0.6% in the third quarter. Vanguard Group Inc now owns 18,886,120 shares of the company’s stock valued at $400,763,000 after buying an additional 120,978 shares in the last quarter. KBC Group NV lifted its stake in Under Armour by 175.6% in the fourth quarter. KBC Group NV now owns 29,295 shares of the company’s stock valued at $518,000 after buying an additional 18,665 shares in the last quarter. Xact Kapitalforvaltning AB lifted its stake in Under Armour by 8.0% in the fourth quarter. Xact Kapitalforvaltning AB now owns 25,333 shares of the company’s stock valued at $448,000 after buying an additional 1,873 shares in the last quarter. SG Americas Securities LLC lifted its stake in Under Armour by 11.1% in the fourth quarter. SG Americas Securities LLC now owns 55,059 shares of the company’s stock valued at $973,000 after buying an additional 5,509 shares in the last quarter. Finally, Dupont Capital Management Corp bought a new position in Under Armour in the fourth quarter valued at approximately $123,000. 37.96% of the stock is currently owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.22 and a current ratio of 2.02. The company has a market cap of $12.05 billion, a price-to-earnings ratio of 100.26, a P/E/G ratio of 3.06 and a beta of 0.43.

Under Armour (NYSE:UAA) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.05 EPS for the quarter. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.18 billion. Under Armour had a net margin of 0.12% and a return on equity of 7.17%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, equities analysts predict that Under Armour Inc will post 0.35 earnings per share for the current fiscal year.

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About Under Armour (NYSE:UAA)

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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