Under Armour (NYSE:UAA) Downgraded to Equal Weight at Morgan Stanley

Under Armour (NYSE:UAA – Get Rating) was downgraded by investment analysts at Morgan Stanley to an “equal weight” rating in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. They currently have a $11.00 price objective on the stock, down from their prior price objective of $14.00. Morgan Stanley’s price objective would indicate a potential upside of 4.46% from the company’s previous close.

A number of other equities analysts have also recently issued reports on UAA. JPMorgan Chase & Co. lowered their target price on Under Armour from $28.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, March 9th. Wells Fargo & Company dropped their price objective on shares of Under Armour from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Tuesday, April 5th. Robert W. Baird reduced their target price on shares of Under Armour from $28.00 to $15.00 in a report on Monday, May 9th. Exane BNP Paribas raised shares of Under Armour from an “underperform” rating to a “neutral” rating and set a $18.00 price target for the company in a research note on Wednesday, January 19th. Finally, Citigroup reiterated a “buy” rating and set a $28.00 price target on shares of Under Armour in a report on Friday, February 11th. Eleven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $21.63.

Under Armour stock opened at $10.53 on Thursday. The stock has a market cap of $5.02 billion, a PE ratio of 22.40 and a beta of 1.25. The company has a quick ratio of 1.74, a current ratio of 2.30 and a debt-to-equity ratio of 0.32. Under Armour has a 12-month low of $9.91 and a 12-month high of $27.28. The business’s 50-day moving average price is $15.31 and its two-hundred day moving average price is $18.87.

Under Armour (NYSE:UAA – Get Rating) last released its quarterly earnings data on Friday, May 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05). Under Armour had a return on equity of 16.20% and a net margin of 3.89%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the company earned $0.16 earnings per share. Under Armour’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, analysts expect that Under Armour will post 0.68 earnings per share for the current year.

Under Armour declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 23rd that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

A number of institutional investors and hedge funds have recently bought and sold shares of UAA. Golden State Equity Partners bought a new position in shares of Under Armour during the 1st quarter worth about $272,000. Cim Investment Management Inc. raised its stake in Under Armour by 226.9% during the 1st quarter. Cim Investment Management Inc. now owns 97,117 shares of the company’s stock worth $1,653,000 after buying an additional 67,410 shares during the period. Virtu Financial LLC bought a new position in Under Armour in the first quarter worth approximately $530,000. Alyeska Investment Group L.P. grew its stake in Under Armour by 96.7% in the first quarter. Alyeska Investment Group L.P. now owns 7,462,063 shares of the company’s stock valued at $127,004,000 after acquiring an additional 3,668,041 shares during the period. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Under Armour during the first quarter valued at approximately $5,913,000. 38.72% of the stock is owned by hedge funds and other institutional investors.

Under Armour Company Profile (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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