Under Armour (NYSE:UAA) to Repurchase $500.00 million in Stock

Under Armour (NYSE:UAA - Get Free Report) announced that its board has approved a share buyback plan on Thursday, May 16th, RTT News reports. The company plans to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 16.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Williams Trading reissued a "hold" rating and issued a $8.00 price target on shares of Under Armour in a report on Thursday, March 14th. Barclays dropped their price target on Under Armour from $9.00 to $6.00 and set an "equal weight" rating on the stock in a research report on Monday. Wells Fargo & Company reduced their price target on Under Armour from $7.00 to $6.00 and set an "equal weight" rating for the company in a report on Friday. Citigroup lowered their price objective on Under Armour from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. cut shares of Under Armour from a "neutral" rating to an "underweight" rating and lowered their target price for the company from $8.00 to $6.00 in a research note on Thursday, May 16th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $7.32.

Under Armour Price Performance

Shares of UAA traded up $0.15 during trading hours on Tuesday, reaching $6.85. The company had a trading volume of 9,928,060 shares, compared to its average volume of 7,372,108. The firm has a 50 day simple moving average of $6.91 and a 200-day simple moving average of $7.72. Under Armour has a 12-month low of $6.18 and a 12-month high of $9.50. The company has a current ratio of 2.46, a quick ratio of 1.63 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 1.85 and a beta of 1.63.

Under Armour (NYSE:UAA - Get Free Report) last released its quarterly earnings data on Thursday, May 16th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.07 by $0.04. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. Under Armour had a net margin of 4.19% and a return on equity of 11.95%. The business's revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 EPS. Research analysts expect that Under Armour will post 0.37 earnings per share for the current year.

About Under Armour

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.

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