Under Armour (NYSE:UAA) Downgraded to “Neutral” at Citigroup

Under Armour (NYSE:UAAGet Rating) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, The Fly reports.

Other research analysts have also recently issued research reports about the company. Cowen cut their price objective on Under Armour from $27.00 to $17.00 in a research report on Monday, May 9th. William Blair lowered shares of Under Armour to a “hold” rating in a report on Thursday. Argus lowered their price objective on shares of Under Armour from $19.00 to $15.00 in a research note on Wednesday, May 11th. Morgan Stanley lowered Under Armour from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $14.00 to $11.00 in a research report on Thursday. Finally, Cowen lowered their price target on Under Armour from $27.00 to $17.00 in a research report on Monday, May 9th. Fifteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $21.29.

UAA opened at $9.64 on Monday. The business’s 50-day simple moving average is $15.07 and its 200-day simple moving average is $18.57. The company has a market cap of $4.59 billion, a P/E ratio of 20.51 and a beta of 1.25. Under Armour has a one year low of $9.16 and a one year high of $27.28. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.74 and a current ratio of 2.30.

Under Armour (NYSE:UAAGet Rating) last posted its earnings results on Friday, May 6th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05). The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Under Armour had a net margin of 3.89% and a return on equity of 16.20%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $0.16 earnings per share. As a group, analysts predict that Under Armour will post 0.68 earnings per share for the current fiscal year.

Under Armour declared that its board has approved a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

A number of large investors have recently added to or reduced their stakes in UAA. Janney Montgomery Scott LLC boosted its position in Under Armour by 7.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 17,234 shares of the company’s stock worth $365,000 after purchasing an additional 1,150 shares during the period. Illinois Municipal Retirement Fund boosted its position in Under Armour by 24.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 80,598 shares of the company’s stock valued at $1,708,000 after buying an additional 16,066 shares in the last quarter. Cim Investment Management Inc. grew its position in Under Armour by 98.0% during the 4th quarter. Cim Investment Management Inc. now owns 29,707 shares of the company’s stock worth $615,000 after acquiring an additional 14,706 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Under Armour by 107.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 24,459 shares of the company’s stock worth $518,000 after purchasing an additional 12,664 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in Under Armour by 4.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 44,152 shares of the company’s stock valued at $936,000 after acquiring an additional 1,993 shares in the last quarter. Hedge funds and other institutional investors own 38.72% 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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