Under Armour (NYSE:UAA) Shares Gap Up on Earnings Beat

Under Armour, Inc. (NYSE:UAAGet Free Report)’s stock price gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $7.70, but opened at $8.21. Under Armour shares last traded at $7.87, with a volume of 1,329,450 shares changing hands.

The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.08. Under Armour had a net margin of 6.98% and a return on equity of 13.85%. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the company earned $0.16 EPS. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $9.00 target price on shares of Under Armour in a research report on Monday, February 5th. Evercore ISI assumed coverage on shares of Under Armour in a research report on Tuesday, November 7th. They issued an “inline” rating and a $8.00 target price on the stock. TheStreet raised shares of Under Armour from a “d+” rating to a “c-” rating in a research report on Thursday. Piper Sandler decreased their target price on shares of Under Armour from $10.00 to $8.50 and set a “neutral” rating on the stock in a research report on Thursday, November 9th. Finally, Truist Financial started coverage on shares of Under Armour in a research report on Friday, November 17th. They issued a “hold” rating and a $8.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.92.

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Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. National Bank of Canada FI raised its holdings in Under Armour by 527.6% in the third quarter. National Bank of Canada FI now owns 137,731 shares of the company’s stock valued at $922,000 after acquiring an additional 115,784 shares in the last quarter. Wexford Capital LP acquired a new stake in Under Armour in the second quarter valued at $281,000. Assenagon Asset Management S.A. raised its holdings in Under Armour by 16.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,219,796 shares of the company’s stock valued at $8,356,000 after acquiring an additional 174,159 shares in the last quarter. Privium Fund Management B.V. raised its holdings in Under Armour by 25.4% in the third quarter. Privium Fund Management B.V. now owns 22,200 shares of the company’s stock valued at $152,000 after acquiring an additional 4,500 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Under Armour by 132.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 29,584 shares of the company’s stock valued at $214,000 after acquiring an additional 16,880 shares in the last quarter. 38.45% of the stock is owned by institutional investors and hedge funds.

Under Armour Stock Up 4.9 %

The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 1.54 and a beta of 1.64. The firm’s fifty day moving average is $8.23 and its 200-day moving average is $7.66. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.13 and a quick ratio of 1.35.

Under Armour Company Profile

(Get Free Report)

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

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