Under Armour Inc (NYSE:UA) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 10,740,000 shares, a decrease of 10.9% from the May 15th total of 12,060,000 shares. Based on an average trading volume of 2,180,000 shares, the days-to-cover ratio is currently 4.9 days. Approximately 5.7% of the shares of the company are sold short.
Several research analysts have recently commented on the stock. JPMorgan Chase & Co. set a $195.00 target price on shares of bluebird bio and gave the stock a “buy” rating in a report on Friday, May 17th. Canaccord Genuity set a $13.00 target price on shares of Under Armour and gave the stock a “sell” rating in a report on Tuesday, March 19th. B. Riley set a $12.00 price objective on shares of Under Armour and gave the company a “sell” rating in a research note on Tuesday, April 9th. Piper Jaffray Companies set a $30.00 price objective on shares of Under Armour and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Pivotal Research reissued a “hold” rating and issued a $23.00 price objective on shares of Under Armour in a research note on Tuesday, April 30th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.50.
Shares of Under Armour stock opened at $23.98 on Friday. The firm has a market capitalization of $10.82 billion, a price-to-earnings ratio of 88.81 and a beta of 0.96. The company has a 50 day moving average of $22.41. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.02 and a quick ratio of 1.22. Under Armour has a fifty-two week low of $15.05 and a fifty-two week high of $24.18.
Large investors have recently modified their holdings of the company. Triangle Securities Wealth Management bought a new stake in Under Armour in the first quarter valued at $1,280,000. Thor Advisors LLC bought a new stake in Under Armour in the first quarter valued at $29,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Under Armour by 54.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,935 shares of the company’s stock valued at $31,000 after purchasing an additional 679 shares in the last quarter. Rehmann Capital Advisory Group increased its stake in Under Armour by 152.7% in the fourth quarter. Rehmann Capital Advisory Group now owns 2,188 shares of the company’s stock valued at $37,000 after purchasing an additional 1,322 shares in the last quarter. Finally, Bray Capital Advisors bought a new stake in Under Armour in the first quarter valued at $41,000. Institutional investors own 32.36% of the company’s stock.
About Under Armour
Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes branded performance apparel, footwear, and accessories for men, women, and youth primarily in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. The company offers its apparel in compression, fitted, and loose types to be worn in hot and cold.
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