Under Armour (NYSE:UAA) Given New $5.00 Price Target at Telsey Advisory Group

Key Points

• Telsey Advisory Group cut its Under Armour price target from $5.50 to $5.00 and maintained a “market perform” rating, implying 8.51% downside from the price cited in the report.
• Analysts’ consensus rating is “Hold,” with an average price target of $5.80; opinions range from one Strong Buy and one Buy to eight Holds and three Sells.
• Under Armour’s latest quarterly results beat EPS expectations ($0.05 versus $0.02), though revenue fell 3.2% year over year to $1.10 billion. CFO Reza Taleghani also bought 18,656 shares.

Under Armour (NYSE:UAA - Get Free Report) had its price target cut by research analysts at Telsey Advisory Group from $5.50 to $5.00 in a research note issued on Monday, Benzinga reports. The firm presently has a "market perform" rating on the stock. Telsey Advisory Group's price target suggests a potential downside of 8.51% from the company's current price.

Several other analysts have also recently weighed in on the stock. Weiss Ratings raised shares of Under Armour from a "sell (d-)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. Barclays lowered Under Armour from an "equal weight" rating to an "underweight" rating and set a $5.00 price objective for the company. in a research report on Tuesday, August 11th. Morgan Stanley set a $4.00 target price on Under Armour and gave the company an "equal weight" rating in a research report on Thursday, September 10th. UBS Group restated a "buy" rating and set a $8.00 target price (down from $9.00) on shares of Under Armour in a report on Wednesday, October 28th. Finally, Truist Financial upped their target price on shares of Under Armour from $5.00 to $6.00 and gave the company a "hold" rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $5.80.

Under Armour Stock Up 3.5%

Shares of UAA traded up $0.18 during trading on Monday, reaching $5.46. The company's stock had a trading volume of 9,257,074 shares, compared to its average volume of 9,509,227. The company has a market cap of $2.35 billion, a price-to-earnings ratio of -4.92, a P/E/G ratio of 1.98 and a beta of 1.58. The company has a quick ratio of 1.01, a current ratio of 1.95 and a debt-to-equity ratio of 0.40. Under Armour has a twelve month low of $4.13 and a twelve month high of $8.15. The company has a fifty day moving average of $4.89 and a two-hundred day moving average of $5.93.

Under Armour (NYSE:UAA - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. Under Armour had a negative net margin of 9.80% and a positive return on equity of 3.12%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business earned $0.02 earnings per share. The business's revenue for the quarter was down 3.2% on a year-over-year basis. On average, sell-side analysts predict that Under Armour will post 0.10 EPS for the current fiscal year.

Insider Activity at Under Armour

In related news, CFO Reza Taleghani purchased 18,656 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average price of $5.37 per share, for a total transaction of $100,182.72. Following the completion of the acquisition, the chief financial officer directly owned 87,621 shares in the company, valued at approximately $470,524.77. The trade was a 27.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 15.70% of the company's stock.

Institutional Investors Weigh In On Under Armour

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its stake in Under Armour by 9.4% in the 1st quarter. NewEdge Advisors LLC now owns 23,908 shares of the company's stock worth $141,000 after purchasing an additional 2,061 shares in the last quarter. Versant Capital Management Inc raised its stake in Under Armour by 94.1% in the 3rd quarter. Versant Capital Management Inc now owns 6,155 shares of the company's stock valued at $27,000 after purchasing an additional 2,984 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Under Armour by 20.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 18,878 shares of the company's stock worth $112,000 after purchasing an additional 3,166 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Under Armour by 134.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 7,061 shares of the company's stock valued at $31,000 after acquiring an additional 4,050 shares during the last quarter. Finally, HB Wealth Management LLC grew its position in Under Armour by 31.8% in the first quarter. HB Wealth Management LLC now owns 21,042 shares of the company's stock worth $124,000 after acquiring an additional 5,074 shares during the period. 34.58% of the stock is currently owned by hedge funds and other institutional investors.

About Under Armour

Under Armour, Inc develops, markets and sells performance apparel, footwear and accessories. Its products are designed for athletic training, competition and everyday use, and include technical apparel, running and training shoes, sports accessories and connected fitness offerings.

Founded in 1996 by Kevin Plank, the company built its early business around moisture-wicking performance apparel. Under Armour sells products through wholesale partners and its own direct-to-consumer channels, including retail stores and e-commerce.

Under Armour serves customers in North America and international markets, including Europe, the Middle East and Africa, Asia-Pacific, and Latin America.

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