Under Armour (NYSE:UAA) Hits New 52-Week Low at $6.17

Under Armour, Inc. (NYSE:UAA) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $6.17 and last traded at $6.34, with a volume of 1511138 shares. The stock had previously closed at $6.50.

Analyst Upgrades and Downgrades

UAA has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered Under Armour from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $8.00 to $6.00 in a report on Thursday, May 16th. Bank of America cut their price objective on Under Armour from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, May 17th. Truist Financial lowered their price target on shares of Under Armour from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Friday, May 17th. Oppenheimer downgraded shares of Under Armour from an “outperform” rating to a “market perform” rating in a report on Thursday, May 23rd. Finally, Citigroup dropped their target price on shares of Under Armour from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Under Armour has an average rating of “Hold” and an average price target of $6.96.

Under Armour Trading Up 1.5 %

The company has a debt-to-equity ratio of 0.28, a current ratio of 2.46 and a quick ratio of 1.63. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 3.38 and a beta of 1.67. The business’s 50-day moving average price is $6.79 and its two-hundred day moving average price is $7.19.

Under Armour (NYSE:UAA) last issued its quarterly earnings results on Thursday, May 16th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. Under Armour had a return on equity of 11.95% and a net margin of 4.19%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 EPS. Equities analysts expect that Under Armour, Inc. will post 0.19 earnings per share for the current year.

Under Armour declared that its board has approved a share buyback plan on Thursday, May 16th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 16.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Under Armour

Hedge funds have recently modified their holdings of the stock. Koss Olinger Consulting LLC purchased a new position in shares of Under Armour in the 2nd quarter worth $79,000. Victory Capital Management Inc. lifted its stake in shares of Under Armour by 16.1% in the 2nd quarter. Victory Capital Management Inc. now owns 165,520 shares of the company’s stock valued at $1,104,000 after purchasing an additional 22,930 shares in the last quarter. MCF Advisors LLC purchased a new stake in shares of Under Armour during the 2nd quarter worth about $125,000. Versor Investments LP increased its position in Under Armour by 9.8% during the 2nd quarter. Versor Investments LP now owns 32,400 shares of the company’s stock worth $216,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Natixis Advisors LLC acquired a new stake in Under Armour during the 2nd quarter worth approximately $255,000. 34.58% of the stock is owned by institutional investors and hedge funds.

About Under Armour

Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes 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.