Under Armour (NYSE:UAA) Trading Down 5.8%

Under Armour, Inc. (NYSE:UAA) fell 5.8% during mid-day trading on Tuesday . The stock traded as low as $6.98 and last traded at $7.03. 2,292,792 shares were traded during trading, a decline of 75% from the average session volume of 9,309,813 shares. The stock had previously closed at $7.46.

Analyst Upgrades and Downgrades

UAA has been the topic of several analyst reports. Truist Financial boosted their price objective on Under Armour from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Wells Fargo & Company cut their target price on Under Armour from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, May 17th. Barclays raised their price target on Under Armour from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Argus upgraded shares of Under Armour to a “strong-buy” rating in a research report on Thursday, August 15th. Finally, BMO Capital Markets lowered their target price on shares of Under Armour from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, May 17th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Under Armour presently has a consensus rating of “Hold” and a consensus target price of $7.50.

Under Armour Price Performance

The firm has a market capitalization of $2.93 billion, a P/E ratio of 12.57, a P/E/G ratio of 3.57 and a beta of 1.65. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.73 and a quick ratio of 1.08. The stock’s fifty day simple moving average is $7.31 and its 200 day simple moving average is $7.19.

Under Armour (NYSE:UAA) last posted its earnings results on Thursday, August 8th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Under Armour had a negative net margin of 1.35% and a positive return on equity of 11.98%. Under Armour’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.02 earnings per share. On average, equities research analysts predict that Under Armour, Inc. will post 0.22 EPS for the current year.

Under Armour announced that its Board of Directors has authorized a share buyback program on Thursday, May 16th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 16.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Under Armour

Institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas lifted its holdings in shares of Under Armour by 39.3% during the fourth quarter. Teacher Retirement System of Texas now owns 27,524 shares of the company’s stock worth $242,000 after purchasing an additional 7,771 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Under Armour by 29.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,154,871 shares of the company’s stock valued at $62,893,000 after acquiring an additional 1,636,634 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Under Armour in the first quarter worth $8,944,000. Virtu Financial LLC purchased a new position in shares of Under Armour during the fourth quarter worth $440,000. Finally, Hexagon Capital Partners LLC lifted its position in Under Armour by 101.1% during the first quarter. Hexagon Capital Partners LLC now owns 3,760 shares of the company’s stock valued at $28,000 after purchasing an additional 1,890 shares during the period. 34.58% of the stock is currently owned by institutional investors and hedge funds.

Under Armour Company Profile

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.