Zacks Investment Research upgraded shares of Under Armour (NYSE:UAA) from a sell rating to a hold rating in a research report report published on Saturday, January 6th.
According to Zacks, “Shares of Under Armour have outperformed the industry in a month. The recent surge in stock price can primarily be attributed to analysts’ optimistic view on company’s 2018 performance. Further, the Under Armour’s 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. However, the decline in sales in North America has been a major concern for investors in the past few quarters. It now expects 2017 net revenues to rise in low-single digits, down from the earlier estimate of an increase of 9-11% over the 2016 level. We also observe that earnings estimates have witnessed downward revisions.”
Several other research analysts have also commented on UAA. Vetr raised shares of Under Armour from a sell rating to a hold rating and set a $16.00 price objective for the company in a research note on Thursday, September 28th. Telsey Advisory Group decreased their target price on Under Armour from $18.00 to $12.00 and set a market perform rating for the company in a research report on Wednesday, November 1st. Cowen reiterated a market perform rating and set a $18.00 target price on shares of Under Armour in a research report on Sunday, October 1st. ValuEngine downgraded Under Armour from a hold rating to a sell rating in a report on Sunday, December 31st. Finally, Buckingham Research initiated coverage on Under Armour in a report on Friday, January 5th. They issued a neutral rating and a $17.00 price objective for the company. Seventeen equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Under Armour currently has a consensus rating of Hold and an average price target of $17.09.
Shares of Under Armour (NYSE UAA) opened at $15.12 on Friday. 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 has a fifty-two week low of $11.40 and a fifty-two week high of $30.59. The stock has a market cap of $6,757.96, a P/E ratio of 48.77, a price-to-earnings-growth ratio of 3.80 and a beta of -0.14.
Under Armour (NYSE:UAA) last posted its earnings results on Tuesday, October 31st. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. Under Armour had a net margin of 2.94% and a return on equity of 9.32%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.49 billion. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. equities research analysts anticipate that Under Armour will post 0.2 earnings per share for the current year.
A number of large investors have recently made changes to their positions in UAA. Baillie Gifford & Co. acquired a new position in Under Armour in the second quarter valued at approximately $532,573,000. Vanguard Group Inc. acquired a new position in shares of Under Armour during the 2nd quarter worth approximately $393,172,000. BlackRock Inc. acquired a new position in shares of Under Armour during the 2nd quarter worth approximately $238,861,000. State Street Corp acquired a new position in shares of Under Armour during the 2nd quarter worth approximately $157,325,000. Finally, Bamco Inc. NY acquired a new position in shares of Under Armour during the 2nd quarter worth approximately $151,334,000. 30.98% of the stock is owned by institutional investors.
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About Under Armour
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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