Under Armour (NYSE:UAA) Price Target Raised to $8.00 at Barclays

Under Armour (NYSE:UAA) had its target price raised by Barclays from $6.00 to $8.00 in a research report released on Friday, Benzinga reports. The firm currently has an equal weight rating on the stock.

UAA has been the subject of several other research reports. Evercore ISI dropped their price target on shares of Under Armour from $7.00 to $6.00 and set an underperform rating for the company in a research report on Friday, May 17th. William Blair lowered shares of Under Armour from an outperform rating to a market perform rating in a report on Thursday, May 16th. Bank of America dropped their price objective on shares of Under Armour from $9.00 to $8.00 and set a neutral rating for the company in a report on Friday, May 17th. Citigroup dropped their price objective 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. Finally, JPMorgan Chase & Co. lowered shares of Under Armour from a neutral rating to an underweight rating and dropped their price objective for the stock from $8.00 to $6.00 in a report on Thursday, May 16th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Under Armour has an average rating of Hold and a consensus target price of $7.50.

Under Armour Stock Up 2.5 %

NYSE:UAA traded up $0.19 during trading hours on Friday, reaching $7.90. The company’s stock had a trading volume of 21,445,955 shares, compared to its average volume of 8,865,764. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 3.37 and a beta of 1.67. Under Armour has a one year low of $6.17 and a one year high of $9.50. The business’s 50-day moving average is $6.81 and its 200-day moving average is $7.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.46 and a quick ratio of 1.63.

Under Armour (NYSE:UAA) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. Under Armour had a net margin of 4.19% and a return on equity of 11.95%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the company earned $0.02 earnings per share. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. Equities research analysts predict that Under Armour will post 0.19 EPS for the current year.

Under Armour announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 16th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 16.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas increased its stake in shares of Under Armour by 39.3% during the 4th quarter. Teacher Retirement System of Texas now owns 27,524 shares of the company’s stock worth $242,000 after purchasing an additional 7,771 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Under Armour by 29.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,154,871 shares of the company’s stock worth $62,893,000 after purchasing an additional 1,636,634 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Under Armour during the 1st quarter worth about $8,944,000. Virtu Financial LLC acquired a new position in shares of Under Armour during the 4th quarter worth about $440,000. Finally, Hexagon Capital Partners LLC boosted its holdings in shares of Under Armour by 101.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 3,760 shares of the company’s stock worth $28,000 after buying an additional 1,890 shares during the period. 34.58% of the stock is currently 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.