Under Armour (NYSE:UAA) Cut to Hold at Cowen

Under Armour (NYSE:UAA – Get Rating) was downgraded by research analysts at Cowen from an “outperform” rating to a “hold” rating in a research report issued on Tuesday, The Fly reports. They currently have a $10.00 price objective on the stock. Cowen’s price target points to a potential upside of 4.38% from the stock’s previous close.

Several other equities research analysts have also commented on UAA. JPMorgan Chase & Co. reduced their price objective on Under Armour from $28.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, March 9th. B. Riley reduced their price objective on Under Armour from $18.00 to $11.00 in a research note on Monday, May 9th. Barclays reduced their price objective on Under Armour from $22.00 to $14.00 in a research note on Tuesday, May 10th. BTIG Research upgraded Under Armour from a “sell” rating to a “neutral” rating in a research note on Friday, February 25th. Finally, Williams Capital lowered Under Armour from a “buy” rating to a “hold” rating in a research note on Thursday, May 19th. Sixteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.87.

UAA traded up $0.49 during mid-day trading on Tuesday, reaching $9.58. 8,660,621 shares of the company traded hands, compared to its average volume of 8,976,290. The stock has a market capitalization of $4.56 billion, a P/E ratio of 20.38 and a beta of 1.27. The company has a quick ratio of 1.74, a current ratio of 2.30 and a debt-to-equity ratio of 0.32. The company’s fifty day moving average price is $11.64 and its 200-day moving average price is $15.95. Under Armour has a 52-week low of $8.73 and a 52-week high of $27.28.

Under Armour (NYSE:UAA – Get Rating) last announced its earnings results on Friday, May 6th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05). The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Under Armour had a net margin of 3.89% and a return on equity of 16.20%. Under Armour’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 earnings per share. As a group, sell-side analysts forecast that Under Armour will post 0.68 earnings per share for the current fiscal year.

In related news, Director David W. Gibbs acquired 25,000 shares of the company’s stock in a transaction on Tuesday, May 31st. The stock was acquired at an average price of $9.60 per share, with a total value of $240,000.00. Following the acquisition, the director now directly owns 50,000 shares of the company’s stock, valued at $480,000. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 16.40% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Neuberger Berman Group LLC purchased a new stake in shares of Under Armour during the 1st quarter valued at about $29,478,000. Golden State Equity Partners purchased a new stake in Under Armour in the 1st quarter worth about $272,000. Cim Investment Management Inc. raised its position in Under Armour by 226.9% in the 1st quarter. Cim Investment Management Inc. now owns 97,117 shares of the company’s stock worth $1,653,000 after purchasing an additional 67,410 shares during the period. Virtu Financial LLC purchased a new stake in Under Armour in the 1st quarter worth about $530,000. Finally, Alyeska Investment Group L.P. raised its position in Under Armour by 96.7% in the 1st quarter. Alyeska Investment Group L.P. now owns 7,462,063 shares of the company’s stock worth $127,004,000 after purchasing an additional 3,668,041 shares during the period. Hedge funds and other institutional investors own 38.72% of the company’s stock.

About Under Armour (Get Rating)

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

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