Synovus Financial Corp Grows Holdings in Under Armour, Inc. (NYSE:UAA)

Synovus Financial Corp boosted its position in Under Armour, Inc. (NYSE:UAAGet Rating) by 2.8% in the second quarter, HoldingsChannel reports. The firm owned 43,282 shares of the company’s stock after buying an additional 1,181 shares during the quarter. Synovus Financial Corp’s holdings in Under Armour were worth $361,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. boosted its stake in shares of Under Armour by 102.5% in the 1st quarter. Washington Trust Advisors Inc. now owns 1,472 shares of the company’s stock worth $25,000 after buying an additional 745 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in Under Armour by 1.6% during the first quarter. Treasurer of the State of North Carolina now owns 69,415 shares of the company’s stock worth $1,181,000 after acquiring an additional 1,103 shares during the period. Comerica Bank boosted its position in Under Armour by 4.4% in the first quarter. Comerica Bank now owns 27,901 shares of the company’s stock worth $461,000 after purchasing an additional 1,176 shares during the last quarter. Scotia Capital Inc. boosted its position in Under Armour by 3.3% in the first quarter. Scotia Capital Inc. now owns 37,309 shares of the company’s stock worth $635,000 after purchasing an additional 1,178 shares during the last quarter. Finally, KBC Group NV grew its stake in Under Armour by 9.5% in the 1st quarter. KBC Group NV now owns 14,560 shares of the company’s stock valued at $248,000 after purchasing an additional 1,265 shares during the period. Hedge funds and other institutional investors own 34.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on UAA shares. JPMorgan Chase & Co. lifted their target price on Under Armour from $10.00 to $11.00 in a research note on Monday, November 7th. Bank of America initiated coverage on shares of Under Armour in a research report on Tuesday, November 1st. They issued a “neutral” rating and a $8.00 price objective on the stock. Oppenheimer reduced their target price on shares of Under Armour to $15.00 in a research report on Thursday, October 20th. StockNews.com initiated coverage on shares of Under Armour in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Robert W. Baird downgraded Under Armour from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $12.00 to $10.00 in a research note on Thursday, August 4th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.27.

Under Armour Stock Performance

Under Armour stock opened at $9.53 on Monday. Under Armour, Inc. has a 1-year low of $6.38 and a 1-year high of $27.28. The company has a current ratio of 2.09, a quick ratio of 1.36 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $4.34 billion, a PE ratio of 30.74, a price-to-earnings-growth ratio of 4.73 and a beta of 1.42. The firm’s 50 day simple moving average is $7.82 and its 200 day simple moving average is $8.88.

Under Armour (NYSE:UAAGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. Under Armour had a net margin of 2.51% and a return on equity of 9.13%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the business earned $0.31 EPS. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, analysts expect that Under Armour, Inc. will post 0.46 earnings per share for the current fiscal year.

Under Armour Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Under Armour (NYSE:UAA)

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