Under Armour (NYSE:UAA) Price Target Lowered to $6.00 at Robert W. Baird

Key Points

• Robert W. Baird has cut Under Armour's price target from $7.00 to $6.00, maintaining a "neutral" rating on the stock, with a suggested upside of 10.50% from the last close.
• Multiple brokerages have issued negative ratings on Under Armour, with four analysts rating it as a sell, highlighting concerns over performance and a consensus price target of $6.78.
• Under Armour's quarterly earnings report showed a decline in revenue by 4.2% year-over-year, with missed earnings per share estimations, raising doubts about its future profitability.

Under Armour (NYSE:UAA - Get Free Report) had its target price lowered by equities researchers at Robert W. Baird from $7.00 to $6.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Robert W. Baird's price target would suggest a potential upside of 15.05% from the stock's previous close.

Several other brokerages have also issued reports on UAA. Needham & Company LLC reaffirmed a "hold" rating on shares of Under Armour in a research note on Wednesday, May 14th. Citigroup dropped their price target on Under Armour from $6.00 to $5.50 and set a "neutral" rating for the company in a research note on Monday. Wells Fargo & Company boosted their target price on Under Armour from $4.00 to $5.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. Telsey Advisory Group lowered their price target on Under Armour from $7.00 to $5.00 and set a "market perform" rating for the company in a research report on Monday. Finally, UBS Group upped their price target on Under Armour from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $6.74.

Under Armour Price Performance

Under Armour stock traded up $0.30 during midday trading on Monday, hitting $5.22. 17,766,806 shares of the company's stock were exchanged, compared to its average volume of 13,159,825. Under Armour has a 52-week low of $4.78 and a 52-week high of $11.89. The stock has a 50-day moving average price of $6.68 and a two-hundred day moving average price of $6.60. 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 has a market cap of $2.24 billion, a P/E ratio of 23.75, a PEG ratio of 2.36 and a beta of 1.61.

Under Armour (NYSE:UAA - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Under Armour had a return on equity of 7.24% and a net margin of 1.99%. The business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the previous year, the firm earned $0.01 earnings per share. Under Armour's quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts forecast that Under Armour will post 0.3 earnings per share 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 stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $6.14, for a total transaction of $100,002.18. Following the sale, the insider directly owned 191,796 shares in the company, valued at approximately $1,177,627.44. This trade represents a 7.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dawn N. Fitzpatrick bought 100,000 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were acquired at an average price of $4.93 per share, for a total transaction of $493,000.00. Following the completion of the purchase, the director owned 133,696 shares in the company, valued at approximately $659,121.28. The trade was a 296.77% increase in their position. The disclosure for this purchase can be found here. Company insiders own 15.60% of the company's stock.

Hedge Funds Weigh In On Under Armour

Institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp boosted its stake in shares of Under Armour by 18.9% in the 4th quarter. Northern Trust Corp now owns 1,729,796 shares of the company's stock worth $14,323,000 after buying an additional 275,131 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Under Armour by 36.5% in the 4th quarter. JPMorgan Chase & Co. now owns 554,525 shares of the company's stock worth $4,591,000 after purchasing an additional 148,280 shares during the period. Eisler Capital Management Ltd. bought a new position in Under Armour in the 4th quarter worth $2,514,000. Alyeska Investment Group L.P. raised its holdings 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. Finally, ABC Arbitrage SA bought a new position in Under Armour in the 1st quarter worth $3,233,000. 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.