Under Armour (NYSE:UAA) Shares Down 2.4%

Under Armour, Inc. (NYSE:UAA – Get Rating) shares traded down 2.4% during trading on Tuesday . The stock traded as low as $8.89 and last traded at $8.94. 104,551 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 9,943,414 shares. The stock had previously closed at $9.16.

Several research analysts recently commented on the stock. Robert W. Baird dropped their target price on shares of Under Armour from $28.00 to $15.00 in a report on Monday, May 9th. JPMorgan Chase & Co. dropped their price objective on shares of Under Armour from $28.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, March 9th. B. Riley reduced their price target on shares of Under Armour from $18.00 to $11.00 in a research report on Monday, May 9th. StockNews.com began coverage on shares of Under Armour in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, William Blair lowered shares of Under Armour to a “hold” rating in a research report on Thursday, May 19th. Sixteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.17.

The firm has a market cap of $4.28 billion, a P/E ratio of 19.49 and a beta of 1.27. The stock’s 50 day simple moving average is $12.19 and its 200 day simple moving average is $16.37. 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:UAA – Get Rating) last announced its quarterly 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). Under Armour had a net margin of 3.89% and a return on equity of 16.20%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm posted $0.16 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, analysts forecast that Under Armour, Inc. will post 0.68 EPS for the current fiscal year.

Under Armour announced that its board has initiated a stock buyback program on Wednesday, February 23rd that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 6.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

In related news, Director David W. Gibbs acquired 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 31st. The stock was acquired at an average price of $9.60 per share, for a total transaction of $240,000.00. Following the completion of the acquisition, the director now owns 50,000 shares of the company’s stock, valued at approximately $480,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 16.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in UAA. Washington Trust Advisors Inc. lifted its position in Under Armour by 102.5% during the first quarter. Washington Trust Advisors Inc. now owns 1,472 shares of the company’s stock valued at $25,000 after purchasing an additional 745 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Under Armour in the fourth quarter worth $27,000. CWM LLC purchased a new position in shares of Under Armour in the fourth quarter worth $35,000. Daiwa Securities Group Inc. increased its stake in shares of Under Armour by 44.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,753 shares of the company’s stock worth $37,000 after buying an additional 537 shares during the period. Finally, Cornerstone Advisory LLC purchased a new position in shares of Under Armour in the fourth quarter worth $39,000. Institutional investors and hedge funds own 38.72% of the company’s stock.

About Under Armour (NYSE:UAA)

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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