JPMorgan Chase & Co. Lowers Under Armour (NYSE:UAA) Price Target to $5.00

Key Points

• JPMorgan Chase & Co. has reduced its price target for Under Armour from $6.00 to $5.00, maintaining an "underweight" rating which indicates a potential downside from the company's previous close.
• Multiple analysts are projecting various price targets for Under Armour, with average ratings suggesting a "Hold" and a consensus price target around $7.17.
• Under Armour's shares are currently trading at $5.43, with a twelve-month low of $4.78 and an average trading volume significantly higher than usual.

Under Armour (NYSE:UAA - Get Free Report) had its price target reduced by analysts at JPMorgan Chase & Co. from $6.00 to $5.00 in a report released on Friday,Benzinga reports. The firm presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential downside of 0.50% from the stock's current price.

UAA has been the topic of several other research reports. BMO Capital Markets dropped their price objective on Under Armour from $12.00 to $9.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 14th. Bank of America dropped their target price on Under Armour from $10.00 to $8.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 14th. Truist Financial dropped their target price on Under Armour from $9.00 to $7.00 and set a "hold" rating on the stock in a research report on Wednesday, May 14th. Stifel Nicolaus dropped their target price on Under Armour from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Finally, Citigroup dropped their target price on Under Armour from $8.00 to $6.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $6.74.

Under Armour Stock Down 1.9%

UAA traded down $0.10 during midday trading on Friday, reaching $5.03. 9,886,064 shares of the company were exchanged, compared to its average volume of 12,909,320. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 0.76 and a beta of 1.61. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.93 and a current ratio of 1.53. The company's fifty day moving average price is $6.78 and its 200 day moving average price is $6.64. Under Armour has a one year low of $4.78 and a one year high of $11.89.

Under Armour (NYSE:UAA - Get Free Report) last released its earnings results on Friday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Under Armour had a net margin of 1.99% and a return on equity of 7.24%. The business's revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.01 earnings per share. As a group, analysts expect that Under Armour will post 0.3 EPS for the current year.

Insider Buying and Selling at Under Armour

In other Under Armour news, insider Mehri Shadman sold 16,287 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $6.14, for a total value of $100,002.18. Following the completion of the sale, the insider directly owned 191,796 shares in the company, valued at $1,177,627.44. This trade represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 15.60% of the company's stock.

Institutional Trading of Under Armour

Several institutional investors and hedge funds have recently bought and sold shares of UAA. FMR LLC lifted its holdings in shares of Under Armour by 193.2% during the fourth quarter. FMR LLC now owns 28,317,951 shares of the company's stock valued at $234,473,000 after purchasing an additional 18,658,128 shares during the last quarter. Alyeska Investment Group L.P. grew its position in Under Armour by 55.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 9,789,553 shares of the company's stock worth $81,057,000 after purchasing an additional 3,503,006 shares during the period. Fuller & Thaler Asset Management Inc. grew its position in Under Armour by 17.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 6,494,339 shares of the company's stock worth $40,590,000 after purchasing an additional 965,404 shares during the period. American Century Companies Inc. grew its position in Under Armour by 36.2% in the 1st quarter. American Century Companies Inc. now owns 5,465,814 shares of the company's stock worth $34,161,000 after purchasing an additional 1,452,143 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Under Armour by 4.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,047,630 shares of the company's stock worth $31,548,000 after purchasing an additional 231,990 shares during the period. 34.58% of the stock is currently owned by hedge funds and other institutional investors.

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.