Under Armour (NYSE:UAA) Trading Up 6.1% – Here’s What Happened

Under Armour, Inc. (NYSE:UAA)’s stock price shot up 6.1% during trading on Monday . The stock traded as high as $8.84 and last traded at $8.82. 8,732,662 shares changed hands during trading, a decline of 13% from the average session volume of 9,980,606 shares. The stock had previously closed at $8.31.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on UAA. Wedbush lifted their price objective on shares of Under Armour from $8.00 to $8.50 and gave the stock an “outperform” rating in a research note on Friday, August 9th. BMO Capital Markets boosted their target price on shares of Under Armour from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Morgan Stanley cut shares of Under Armour from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $8.00 to $4.00 in a research note on Tuesday, July 23rd. Truist Financial boosted their target price on shares of Under Armour from $7.00 to $8.00 and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Argus upgraded shares of Under Armour to a “strong-buy” rating in a report on Thursday, August 15th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Under Armour currently has a consensus rating of “Hold” and an average target price of $7.57.

Under Armour Price Performance

The stock’s 50-day moving average is $8.11 and its 200-day moving average is $7.25. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.73 and a quick ratio of 1.08.

Under Armour (NYSE:UAA) last announced its earnings results on Thursday, August 8th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.09. Under Armour had a negative net margin of 1.35% and a positive return on equity of 11.98%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the company posted $0.02 earnings per share. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. Equities research analysts expect that Under Armour, Inc. will post 0.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Under Armour

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning raised its position in shares of Under Armour by 28.0% in the third quarter. Creative Planning now owns 21,457 shares of the company’s stock valued at $191,000 after purchasing an additional 4,695 shares during the period. City State Bank boosted its stake in Under Armour by 292.6% during the third quarter. City State Bank now owns 10,063 shares of the company’s stock worth $90,000 after buying an additional 7,500 shares in the last quarter. CWM LLC lifted its holdings in shares of Under Armour by 20.7% during the third quarter. CWM LLC now owns 8,211 shares of the company’s stock valued at $73,000 after acquiring an additional 1,409 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Under Armour by 21.1% during the third quarter. Handelsbanken Fonder AB now owns 52,700 shares of the company’s stock valued at $470,000 after acquiring an additional 9,200 shares during the period. Finally, Wright Investors Service Inc. bought a new position in shares of Under Armour during the third quarter valued at $304,000. Institutional investors own 34.58% of the company’s stock.

Under Armour Company Profile

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.