Telsey Advisory Group Reaffirms Market Perform Rating for Under Armour (NYSE:UAA)

Under Armour (NYSE:UAA)‘s stock had its “market perform” rating reaffirmed by stock analysts at Telsey Advisory Group in a research report issued on Monday, Benzinga reports. They currently have a $7.00 price target on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 8.19% from the company’s previous close.

Several other analysts also recently weighed in on UAA. Truist Financial dropped their price target on Under Armour from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Friday, May 17th. William Blair downgraded shares of Under Armour from an “outperform” rating to a “market perform” rating in a report on Thursday, May 16th. Bank of America reduced their target price on shares of Under Armour from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, May 17th. Morgan Stanley downgraded Under Armour from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $8.00 to $4.00 in a research report on Tuesday, July 23rd. Finally, Oppenheimer cut Under Armour from an “outperform” rating to a “market perform” rating in a report on Thursday, May 23rd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Under Armour currently has an average rating of “Hold” and a consensus price target of $6.96.

Under Armour Stock Down 0.5 %

Shares of NYSE UAA traded down $0.03 during trading hours on Monday, hitting $6.47. 7,207,571 shares of the stock were exchanged, compared to its average volume of 8,411,537. The company has a market cap of $2.82 billion, a PE ratio of 11.98, a PEG ratio of 3.38 and a beta of 1.67. Under Armour has a 12 month low of $6.18 and a 12 month high of $9.50. The company has a quick ratio of 1.63, a current ratio of 2.46 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average price of $6.80 and a 200-day moving average price of $7.20.

Under Armour (NYSE:UAA) last issued its quarterly earnings data on Thursday, May 16th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04. Under Armour had a return on equity of 11.95% and a net margin of 4.19%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the business posted $0.18 EPS. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, sell-side analysts expect that Under Armour will post 0.19 EPS for the current year.

Under Armour declared that its board has authorized a stock repurchase plan on Thursday, May 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 16.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Under Armour

Several institutional investors and hedge funds have recently added to or reduced their stakes in UAA. Keener Financial Planning LLC acquired a new position in Under Armour during the fourth quarter worth about $26,000. Hexagon Capital Partners LLC increased its holdings in shares of Under Armour by 101.1% in the first quarter. Hexagon Capital Partners LLC now owns 3,760 shares of the company’s stock valued at $28,000 after purchasing an additional 1,890 shares during the last quarter. Global Retirement Partners LLC lifted its position in Under Armour by 43.3% during the fourth quarter. Global Retirement Partners LLC now owns 6,769 shares of the company’s stock worth $59,000 after buying an additional 2,044 shares in the last quarter. Optas LLC acquired a new position in Under Armour during the second quarter worth $72,000. Finally, M&T Bank Corp acquired a new stake in shares of Under Armour in the 4th quarter worth $91,000. Institutional investors and hedge funds own 34.58% of the company’s stock.

Under Armour Company Profile

Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes performance apparel, footwear, and accessories for men, women, and youth. The company provides its apparel in compression, fitted, and loose fit types. It also offers footwear products for running, training, basketball, cleated sports, recovery, and outdoor applications.