Trading Report: The Under Armour Inc. (UA) Upgraded by Wells Fargo & Co. to Outperform

The Under Armour Inc. (UA) Upgraded by Wells Fargo & Co. to Outperform

Wells Fargo & Co. upgraded shares of Under Armour Inc. (NYSE:UA) from a market perform rating to an outperform rating in a research note published on Wednesday morning. They currently have $45.00 target price on the apparel retailer’s stock, up from their previous target price of $40.00.

UA has been the subject of several other reports. Canaccord Genuity reaffirmed a buy rating and set a $65.00 target price on shares of Under Armour in a research note on Sunday, September 11th. Zacks Investment Research raised shares of Under Armour from a sell rating to a hold rating in a research note on Monday, June 27th. Oppenheimer Holdings Inc. reaffirmed a market perform rating on shares of Under Armour in a research note on Wednesday, September 28th. William Blair reaffirmed an outperform rating on shares of Under Armour in a research note on Thursday, August 18th. Finally, Susquehanna initiated coverage on shares of Under Armour in a research note on Friday, August 12th. They set a positive rating and a $42.00 target price for the company. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-three have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $56.26.

Under Armour (NYSE:UA) traded down 2.28% during trading on Wednesday, hitting $37.64. 1,004,220 shares of the company’s stock were exchanged. Under Armour has a 52-week low of $32.03 and a 52-week high of $50.72. The company has a market cap of $16.46 billion, a price-to-earnings ratio of 97.01 and a beta of 0.39. The firm has a 50 day moving average price of $39.31 and a 200 day moving average price of $40.12.

Under Armour (NYSE:UA) last posted its earnings results on Tuesday, July 26th. The apparel retailer reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The company had revenue of $1 million for the quarter, compared to analysts’ expectations of $995.14 million. Under Armour had a net margin of 5.24% and a return on equity of 13.79%. The business’s revenue was up 27.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.07 earnings per share. On average, equities research analysts predict that Under Armour will post $0.58 earnings per share for the current year.

In other news, Director Byron K. Adams, Jr. sold 34,726 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $40.00, for a total transaction of $1,389,040.00. Following the completion of the sale, the director now owns 46,293 shares of the company’s stock, valued at $1,851,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas E. Coltharp sold 6,648 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $41.78, for a total transaction of $277,753.44. Following the sale, the director now directly owns 61,720 shares of the company’s stock, valued at approximately $2,578,661.60. The disclosure for this sale can be found here. 16.50% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its stake in Under Armour by 211.1% in the second quarter. Baillie Gifford & Co. now owns 13,941,697 shares of the apparel retailer’s stock worth $559,480,000 after buying an additional 9,460,529 shares during the last quarter. Wellington Management Group LLP raised its stake in Under Armour by 13,607.6% in the first quarter. Wellington Management Group LLP now owns 1,863,417 shares of the apparel retailer’s stock worth $158,073,000 after buying an additional 1,849,823 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Under Armour by 318.8% in the first quarter. UBS Asset Management Americas Inc. now owns 1,672,152 shares of the apparel retailer’s stock worth $141,848,000 after buying an additional 1,272,879 shares during the last quarter. Geode Capital Management LLC raised its stake in Under Armour by 6.5% in the first quarter. Geode Capital Management LLC now owns 1,513,607 shares of the apparel retailer’s stock worth $128,146,000 after buying an additional 91,779 shares during the last quarter. Finally, Columbus Circle Investors raised its stake in Under Armour by 62.2% in the second quarter. Columbus Circle Investors now owns 1,238,599 shares of the apparel retailer’s stock worth $49,705,000 after buying an additional 475,061 shares during the last quarter. 36.56% of the stock is owned by institutional investors and hedge funds.

About Under Armour

Related posts

Leave a Comment