Under Armour (NYSE:UA) Updates FY 2023 Earnings Guidance

Under Armour (NYSE:UAGet Rating) updated its FY 2023 earnings guidance on Monday. The company provided earnings per share guidance of $0.63-$0.68 for the period. The company issued revenue guidance of $5.99 billion-$6.10 billion.

A number of brokerages have recently issued reports on UA. B. Riley dropped their price target on shares of Under Armour from $23.00 to $21.00 and set a neutral rating on the stock in a research report on Monday, January 10th. TheStreet downgraded shares of Under Armour from a b- rating to a c+ rating in a research report on Friday, April 1st. Finally, Morgan Stanley upgraded shares of Under Armour from an equal weight rating to an overweight rating and boosted their price target for the stock from $23.00 to $24.00 in a research report on Wednesday, February 2nd. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Under Armour presently has an average rating of Buy and a consensus price target of $26.00.

Shares of Under Armour stock traded down $0.02 during trading on Monday, reaching $9.83. 238,408 shares of the company traded hands, compared to its average volume of 3,739,141. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.30 and a quick ratio of 1.74. Under Armour has a 1-year low of $9.66 and a 1-year high of $23.00. The company has a 50 day moving average price of $14.70 and a 200-day moving average price of $16.96. The firm has a market capitalization of $4.68 billion, a PE ratio of 20.96 and a beta of 1.29.

Under Armour (NYSE:UAGet Rating) last released its earnings results on Friday, February 11th. The company reported $0.14 earnings per share (EPS) for the quarter. Under Armour had a net margin of 6.34% and a return on equity of 20.66%. The company had revenue of $1.53 billion for the quarter.

In related news, CAO Aditya Maheshwari sold 2,899 shares of the business’s stock in a transaction on Monday, February 28th. The shares were sold at an average price of $15.64, for a total transaction of $45,340.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 15.70% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stifel Financial Corp raised its holdings in Under Armour by 4.2% during the fourth quarter. Stifel Financial Corp now owns 20,523 shares of the company’s stock worth $370,000 after buying an additional 825 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Under Armour by 4.4% during the fourth quarter. Advisors Asset Management Inc. now owns 27,667 shares of the company’s stock worth $499,000 after buying an additional 1,173 shares during the last quarter. Silvercrest Asset Management Group LLC raised its holdings in Under Armour by 11.1% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 30,164 shares of the company’s stock worth $544,000 after buying an additional 3,018 shares during the last quarter. Metropolitan Life Insurance Co NY raised its holdings in Under Armour by 18.7% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 24,173 shares of the company’s stock worth $436,000 after buying an additional 3,809 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Under Armour by 0.6% during the second quarter. Morgan Stanley now owns 842,587 shares of the company’s stock worth $15,648,000 after buying an additional 4,724 shares during the last quarter. Hedge funds and other institutional investors own 36.34% of the company’s stock.

About Under Armour (Get Rating)

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.

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