Under Armour (NYSE:UAA) Trading Down 2.4%

Posted by on Jun 21st, 2022

Shares of Under Armour, Inc. (NYSE:UAA – Get Rating) were down 2.4% on Tuesday . The stock traded as low as $8.89 and last traded at $8.94. Approximately 104,551 shares were traded during trading, a decline of 99% from the average daily volume of 9,943,414 shares. The stock had previously closed at $9.16.

Several brokerages have issued reports on UAA. Wedbush lowered their price objective on shares of Under Armour to $18.00 and set a “hold” rating on the stock in a research report on Thursday, May 19th. Morgan Stanley downgraded Under Armour from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $14.00 to $11.00 in a research note on Thursday, May 19th. Barclays dropped their target price on Under Armour from $22.00 to $14.00 in a report on Tuesday, May 10th. William Blair downgraded Under Armour to a “hold” rating in a report on Thursday, May 19th. Finally, Stifel Nicolaus reduced their target price on shares of Under Armour from $18.00 to $13.00 in a research note on Friday, May 6th. Sixteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.17.

The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 19.49 and a beta of 1.27. The firm has a 50-day moving average of $12.19 and a 200 day moving average of $16.37. The company has a current ratio of 2.30, a quick ratio of 1.74 and a debt-to-equity ratio of 0.32.

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 analysts’ consensus estimates of $0.04 by ($0.05). Under Armour had a net margin of 3.89% and a return on equity of 16.20%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the business earned $0.16 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, research analysts forecast that Under Armour, Inc. will post 0.68 EPS for the current year.

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

In other news, Director David W. Gibbs bought 25,000 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was bought at an average price of $9.60 per share, for a total transaction of $240,000.00. Following the transaction, the director now owns 50,000 shares in the company, valued at $480,000. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 16.40% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in UAA. FNY Investment Advisers LLC acquired a new stake in shares of Under Armour in the fourth quarter valued at $27,000. Washington Trust Advisors Inc. boosted its holdings in Under Armour by 102.5% during the first quarter. Washington Trust Advisors Inc. now owns 1,472 shares of the company’s stock worth $25,000 after buying an additional 745 shares in the last quarter. CWM LLC purchased a new position in Under Armour in the 4th quarter worth about $35,000. Daiwa Securities Group Inc. raised its position in Under Armour by 44.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,753 shares of the company’s stock valued at $37,000 after buying an additional 537 shares during the period. Finally, Cornerstone Advisory LLC purchased a new stake in Under Armour in the 4th quarter worth about $39,000. Institutional investors and hedge funds own 38.72% of the company’s stock.

About Under Armour (NYSE:UAA)

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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