Under Armour (NYSE:UAA) Given New $8.00 Price Target at Truist Financial

Under Armour (NYSE:UAA) had its target price boosted by Truist Financial from $7.00 to $8.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a hold rating on the stock.

A number of other research firms also recently commented on UAA. Telsey Advisory Group restated a market perform rating and issued a $7.00 price objective on shares of Under Armour in a report on Monday, August 5th. Stifel Nicolaus raised their price objective on Under Armour from $9.00 to $10.00 and gave the stock a buy rating in a report on Friday. JPMorgan Chase & Co. downgraded Under Armour from a neutral rating to an underweight rating and cut their price objective for the stock from $8.00 to $6.00 in a report on Thursday, May 16th. Wells Fargo & Company cut their price objective on Under Armour from $7.00 to $6.00 and set an equal weight rating on the stock in a report on Friday, May 17th. Finally, Wedbush raised their target price on Under Armour from $8.00 to $8.50 and gave the company an outperform rating in a report on Friday. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Under Armour presently has a consensus rating of Hold and a consensus price target of $7.50.

Under Armour Trading Up 2.5 %

NYSE UAA traded up $0.19 during trading hours on Friday, hitting $7.90. 21,445,955 shares of the company’s stock were exchanged, compared to its average volume of 8,865,764. The business’s 50 day moving average is $6.81 and its 200-day moving average is $7.18. Under Armour has a 12-month low of $6.17 and a 12-month high of $9.50. The firm has a market capitalization of $3.45 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 3.37 and a beta of 1.67. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.63 and a current ratio of 2.46.

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

Under Armour declared that its Board of Directors has approved a stock repurchase program on Thursday, May 16th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 16.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Privium Fund Management B.V. grew its position in shares of Under Armour by 0.8% in the 1st quarter. Privium Fund Management B.V. now owns 222,900 shares of the company’s stock worth $1,645,000 after acquiring an additional 1,700 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of Under Armour by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 164,760 shares of the company’s stock worth $1,216,000 after purchasing an additional 1,746 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Under Armour by 101.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,760 shares of the company’s stock worth $28,000 after purchasing an additional 1,890 shares during the last quarter. Lumbard & Kellner LLC lifted its holdings in shares of Under Armour by 0.4% in the 2nd quarter. Lumbard & Kellner LLC now owns 461,791 shares of the company’s stock worth $3,080,000 after purchasing an additional 1,949 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Under Armour by 6.3% in the 4th quarter. Raymond James & Associates now owns 38,387 shares of the company’s stock worth $337,000 after purchasing an additional 2,281 shares during the last quarter. Institutional investors and hedge funds own 34.58% of the company’s stock.

Under Armour Company Profile

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.