Under Armour (NYSE:UAA) Trading Down 10.1% – Here’s Why

Under Armour, Inc. (NYSE:UAA) shares traded down 10.1% on Friday . The company traded as low as $9.96 and last traded at $10.01. 5,742,019 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 10,158,511 shares. The stock had previously closed at $11.13.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. TD Cowen increased their target price on shares of Under Armour from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Monday. BMO Capital Markets lifted their price target on Under Armour from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Telsey Advisory Group reissued a “market perform” rating and issued a $8.00 target price on shares of Under Armour in a report on Monday. Stifel Nicolaus upped their target price on Under Armour from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Wells Fargo & Company increased their price target on Under Armour from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Friday. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.76.

Under Armour Price Performance

The company has a 50 day moving average price of $8.43 and a 200 day moving average price of $7.50. The company has a current ratio of 1.73, a quick ratio of 1.08 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $4.18 billion, a P/E ratio of -53.61, a P/E/G ratio of 4.06 and a beta of 1.66.

Under Armour (NYSE:UAA) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. Under Armour had a negative net margin of 1.35% and a positive return on equity of 11.98%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the firm posted $0.02 EPS. The company’s quarterly revenue was down 10.1% on a year-over-year basis. On average, equities analysts predict that Under Armour, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Trading of Under Armour

A number of hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Under Armour in the 3rd quarter worth about $56,000. Optas LLC bought a new stake in shares of Under Armour in the 2nd quarter worth approximately $72,000. CWM LLC grew its stake in shares of Under Armour by 20.7% in the 3rd quarter. CWM LLC now owns 8,211 shares of the company’s stock worth $73,000 after buying an additional 1,409 shares during the last quarter. Koss Olinger Consulting LLC purchased a new position in Under Armour during the second quarter valued at $79,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Under Armour in the second quarter worth $80,000. 34.58% of the stock is owned by institutional investors.

About Under Armour

Under Armour, Inc, together with its subsidiaries, engages developing, marketing, and distributing 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.