Under Armour (NYSE:UAA) Price Target Lowered to $6.50 at Bank of America

Under Armour (NYSE:UAA) had its price objective reduced by Bank of America from $8.00 to $6.50 in a report released on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also commented on UAA. Telsey Advisory Group reissued a “market perform” rating and issued a $7.00 target price on shares of Under Armour in a report on Monday, August 4th. JPMorgan Chase & Co. decreased their target price on shares of Under Armour from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Friday. Citigroup decreased their price target on shares of Under Armour from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Stifel Nicolaus decreased their price target on shares of Under Armour from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Finally, Evercore ISI decreased their price target on shares of Under Armour from $7.00 to $6.00 and set an “underperform” rating on the stock in a report on Wednesday, May 14th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Under Armour currently has a consensus rating of “Hold” and a consensus price target of $6.74.

Under Armour Price Performance

UAA stock opened at $5.13 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.53 and a debt-to-equity ratio of 0.21. Under Armour has a 12 month low of $4.78 and a 12 month high of $11.89. The firm has a market cap of $2.21 billion, a P/E ratio of 23.32, a P/E/G ratio of 0.76 and a beta of 1.61. The company’s 50-day moving average price is $6.78 and its two-hundred day moving average price is $6.64.

Under Armour (NYSE:UAA) last released its earnings results on Friday, August 8th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Under Armour had a net margin of 1.99% and a return on equity of 7.24%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the business earned $0.01 earnings per share. Under Armour’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, analysts anticipate that Under Armour will post 0.3 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Mehri Shadman sold 16,287 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $6.14, for a total value of $100,002.18. Following the transaction, the insider owned 191,796 shares in the company, valued at approximately $1,177,627.44. The trade was a 7.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. TD Waterhouse Canada Inc. lifted its position in shares of Under Armour by 430.6% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 69,101 shares of the company’s stock worth $489,000 after purchasing an additional 56,079 shares during the period. Intech Investment Management LLC acquired a new position in shares of Under Armour during the 2nd quarter valued at $1,897,000. Creative Planning lifted its position in shares of Under Armour by 70.8% during the 2nd quarter. Creative Planning now owns 30,457 shares of the company’s stock valued at $208,000 after acquiring an additional 12,620 shares during the period. SG Americas Securities LLC lifted its position in shares of Under Armour by 92.5% during the 2nd quarter. SG Americas Securities LLC now owns 150,836 shares of the company’s stock valued at $1,030,000 after acquiring an additional 72,486 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Under Armour by 13.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,514 shares of the company’s stock valued at $195,000 after acquiring an additional 3,378 shares during the period. Institutional investors and hedge funds own 34.58% of the company’s stock.

About Under Armour

Under Armour, Inc, together with its subsidiaries, engages developing, marketing, and distributing performance apparel, footwear, and accessories for men, women, and youth. The company provides its apparel in compression, fitted, and loose fit types. It also offers footwear products for running, training, basketball, cleated sports, recovery, and outdoor applications.