Under Armour (NYSE:UAA) Shares Gap Down to $18.44

Under Armour Inc (NYSE:UAA)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $18.85, but opened at $18.44. Under Armour shares last traded at $18.11, with a volume of 3,436,294 shares changing hands.

Several research firms recently weighed in on UAA. Sanford C. Bernstein raised Under Armour from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $16.00 to $17.00 in a research note on Tuesday, September 3rd. Barclays assumed coverage on Under Armour in a report on Tuesday, November 12th. They issued an “equal weight” rating and a $19.00 target price on the stock. Raymond James upgraded Under Armour from an “outperform” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research report on Wednesday, November 27th. KeyCorp decreased their price objective on shares of Under Armour from $30.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, UBS Group lowered their price objective on shares of Under Armour from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Under Armour currently has an average rating of “Hold” and a consensus target price of $22.18.

The company’s 50 day simple moving average is $18.96 and its 200 day simple moving average is $21.75. The company has a current ratio of 2.05, a quick ratio of 1.29 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $8.40 billion, a PE ratio of 69.24, a PEG ratio of 1.98 and a beta of 0.55.

Under Armour (NYSE:UAA) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. Under Armour had a return on equity of 7.24% and a net margin of 2.14%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. As a group, analysts predict that Under Armour Inc will post 0.34 EPS for the current year.

Several large investors have recently made changes to their positions in UAA. Resources Management Corp CT ADV acquired a new stake in Under Armour in the third quarter valued at approximately $362,000. Banco de Sabadell S.A acquired a new position in Under Armour in the third quarter worth about $354,000. K2 Principal Fund L.P. bought a new stake in Under Armour in the third quarter valued at about $682,000. Disciplined Growth Investors Inc. MN increased its holdings in Under Armour by 2.8% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,215,220 shares of the company’s stock valued at $44,171,000 after buying an additional 59,642 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in Under Armour by 2.0% during the third quarter. Public Employees Retirement System of Ohio now owns 235,910 shares of the company’s stock valued at $4,704,000 after buying an additional 4,675 shares in the last quarter. Institutional investors and hedge funds own 39.48% of the company’s stock.

About Under Armour (NYSE:UAA)

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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