Under Armour (NYSE:UAA) Stock Rating Lowered by Cowen

Posted by on Jun 21st, 2022

Under Armour (NYSE:UAA – Get Rating) was downgraded by Cowen from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday, Briefing.com reports. They currently have a $10.00 price target on the stock, down from their previous price target of $13.00. Cowen’s price target suggests a potential upside of 9.17% from the stock’s previous close.

Several other equities analysts also recently weighed in on the stock. William Blair downgraded shares of Under Armour to a “hold” rating in a report on Thursday, May 19th. Morgan Stanley downgraded shares of Under Armour from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $14.00 to $11.00 in a report on Thursday, May 19th. Robert W. Baird cut their price target on shares of Under Armour from $28.00 to $15.00 in a report on Monday, May 9th. B. Riley lowered their price objective on Under Armour from $18.00 to $11.00 in a research report on Monday, May 9th. Finally, JPMorgan Chase & Co. lowered their price objective on Under Armour from $28.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 9th. Sixteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Under Armour has an average rating of “Hold” and a consensus price target of $20.17.

UAA opened at $9.16 on Tuesday. Under Armour has a 52-week low of $8.84 and a 52-week high of $27.28. 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 has a market cap of $4.36 billion, a P/E ratio of 19.49 and a beta of 1.27. The firm’s 50-day moving average price is $12.19 and its 200-day moving average price is $16.37.

Under Armour (NYSE:UAA – Get Rating) last posted its quarterly earnings data on Friday, May 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.05). Under Armour had a net margin of 3.89% and a return on equity of 16.20%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the company earned $0.16 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. On average, research analysts anticipate that Under Armour will post 0.68 EPS for the current fiscal year.

Under Armour declared that its board has approved a stock repurchase program on Wednesday, February 23rd that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 6.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other news, Director David W. Gibbs purchased 25,000 shares of the business’s stock in a transaction on Tuesday, May 31st. The shares were bought at an average price of $9.60 per share, with a total value of $240,000.00. Following the completion of the transaction, the director now directly owns 50,000 shares in the company, valued at approximately $480,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 16.40% of the company’s stock.

Large investors have recently modified their holdings of the company. Daiwa Securities Group Inc. increased its stake in Under Armour by 44.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,753 shares of the company’s stock valued at $37,000 after purchasing an additional 537 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of Under Armour by 0.3% in the fourth quarter. New York State Teachers Retirement System now owns 199,707 shares of the company’s stock valued at $4,232,000 after buying an additional 632 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Under Armour by 3.8% in the third quarter. HighTower Advisors LLC now owns 18,882 shares of the company’s stock valued at $377,000 after buying an additional 694 shares in the last quarter. Xponance Inc. boosted its holdings in Under Armour by 6.1% in the first quarter. Xponance Inc. now owns 12,338 shares of the company’s stock valued at $210,000 after purchasing an additional 713 shares during the last quarter. Finally, Washington Trust Advisors Inc. boosted its holdings in Under Armour by 102.5% in the first quarter. Washington Trust Advisors Inc. now owns 1,472 shares of the company’s stock valued at $25,000 after purchasing an additional 745 shares during the last quarter. Institutional investors and hedge funds own 38.72% of the company’s stock.

Under Armour Company Profile (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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Analyst Recommendations for Under Armour (NYSE:UAA)

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