Under Armour (NYSE:UAA) Shares Gap Up Following Earnings Beat

Under Armour, Inc. (NYSE:UAAGet Free Report) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $7.70, but opened at $8.21. Under Armour shares last traded at $7.87, with a volume of 1,329,450 shares traded.

The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. Under Armour had a return on equity of 13.85% and a net margin of 6.98%. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the company posted $0.16 EPS. Under Armour’s revenue for the quarter was down 6.1% on a year-over-year basis.

Analyst Ratings Changes

UAA has been the subject of a number of recent analyst reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $9.00 price target on shares of Under Armour in a research report on Monday, February 5th. TheStreet upgraded Under Armour from a “d+” rating to a “c-” rating in a research report on Thursday. Piper Sandler decreased their price target on Under Armour from $10.00 to $8.50 and set a “neutral” rating for the company in a research report on Thursday, November 9th. Evercore ISI started coverage on Under Armour in a research report on Tuesday, November 7th. They set an “inline” rating and a $8.00 price objective for the company. Finally, Truist Financial started coverage on Under Armour in a research report on Friday, November 17th. They set a “hold” rating and a $8.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.92.

View Our Latest Stock Report on UAA

Institutional Investors Weigh In On Under Armour

Several institutional investors have recently made changes to their positions in UAA. Keener Financial Planning LLC bought a new position in shares of Under Armour in the 4th quarter valued at approximately $26,000. West Tower Group LLC bought a new position in Under Armour in the 2nd quarter worth approximately $28,000. Signaturefd LLC increased its position in Under Armour by 119.2% in the 3rd quarter. Signaturefd LLC now owns 4,090 shares of the company’s stock worth $28,000 after buying an additional 2,224 shares during the period. Jefferies Financial Group Inc. bought a new position in Under Armour in the 4th quarter worth approximately $30,000. Finally, Quarry LP acquired a new stake in shares of Under Armour during the 1st quarter worth approximately $32,000. 38.45% of the stock is currently owned by institutional investors and hedge funds.

Under Armour Price Performance

The company has a market cap of $3.54 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 1.54 and a beta of 1.64. The company has a fifty day moving average price of $8.23 and a two-hundred day moving average price of $7.66. The company has a current ratio of 2.13, a quick ratio of 1.35 and a debt-to-equity ratio of 0.27.

About Under Armour

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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.

Further Reading

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