Traders Sell Shares of Under Armour Inc. (UA) on Strength After Analyst Downgrade
Investors sold shares of Under Armour Inc. (NYSE:UA) on strength during trading on Monday after Stifel Nicolaus lowered their price target on the stock from $33.00 to $28.00. $54.75 million flowed into the stock on the tick-up and $76.42 million flowed out of the stock on the tick-down, for a money net flow of $21.67 million out of the stock. Of all equities tracked, Under Armour had the 0th highest net out-flow for the day. Under Armour traded up $0.57 for the day and closed at $31.17
UA has been the topic of several other research reports. Vetr lowered shares of Under Armour from a “strong-buy” rating to a “buy” rating and set a $44.22 price objective on the stock. in a research report on Monday, August 8th. Piper Jaffray Cos. raised shares of Under Armour from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $44.00 in a research report on Thursday, October 13th. Wells Fargo & Co. raised shares of Under Armour from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $40.00 to $45.00 in a research report on Wednesday, October 12th. William Blair reaffirmed an “outperform” rating on shares of Under Armour in a research report on Thursday, August 18th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $31.00 price objective on shares of Under Armour in a research report on Tuesday, October 18th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $46.68.
Several institutional investors have recently modified their holdings of the stock. Tredje AP fonden raised its position in shares of Under Armour by 710.0% in the second quarter. Tredje AP fonden now owns 4,050 shares of the apparel retailer’s stock valued at $163,000 after buying an additional 3,550 shares in the last quarter. Geduld E E acquired a new position in shares of Under Armour during the second quarter valued at about $201,000. Peloton Wealth Strategists acquired a new position in shares of Under Armour during the third quarter valued at about $203,000. Boothbay Fund Management LLC acquired a new position in shares of Under Armour during the first quarter valued at about $204,000. Finally, Prospera Financial Services Inc raised its position in shares of Under Armour by 34.9% in the second quarter. Prospera Financial Services Inc now owns 5,121 shares of the apparel retailer’s stock valued at $206,000 after buying an additional 1,325 shares in the last quarter. Institutional investors and hedge funds own 34.85% of the company’s stock.
The firm has a market capitalization of $13.54 billion, a price-to-earnings ratio of 68.67 and a beta of 0.16. The stock’s 50-day moving average is $33.47 and its 200 day moving average is $37.88.
Under Armour (NYSE:UA) last released its quarterly earnings data on Tuesday, October 25th. The apparel retailer reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. Under Armour had a return on equity of 14.60% and a net margin of 5.53%. The business earned $1.47 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the business posted $0.45 EPS. The business’s revenue was up 22.1% on a year-over-year basis. Equities research analysts anticipate that Under Armour Inc. will post $0.60 earnings per share for the current fiscal year.
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Under Armour Company Profile
Under Armour, Inc is engaged in the development, marketing and distribution of branded performance apparel, footwear and accessories for men, women and youth. The Company’s segments include North America, consisting of the United States and Canada; Europe, the Middle East and Africa (EMEA); Asia-Pacific; Latin America, and Connected Fitness.
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