The Goldman Sachs Group Initiates Coverage on Under Armour (NYSE:UAA)

Stock analysts at The Goldman Sachs Group initiated coverage on shares of Under Armour (NYSE:UAA - Get Free Report) in a research report issued on Wednesday, Marketbeat Ratings reports. The firm set a "neutral" rating and a $7.00 price target on the stock. The Goldman Sachs Group's target price points to a potential downside of 1.13% from the company's current price.

Other analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Under Armour from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. UBS Group lifted their price objective on shares of Under Armour from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Bank of America decreased their price target on Under Armour from $10.00 to $8.00 and set a "neutral" rating for the company in a research report on Wednesday, May 14th. Truist Financial reduced their target price on Under Armour from $9.00 to $7.00 and set a "hold" rating for the company in a report on Wednesday, May 14th. Finally, KGI Securities assumed coverage on shares of Under Armour in a research report on Friday, March 7th. They set a "neutral" rating and a $7.40 price objective on the stock. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Under Armour presently has an average rating of "Hold" and a consensus target price of $7.31.

Under Armour Stock Performance

Shares of Under Armour stock traded down $0.14 on Wednesday, hitting $7.08. The stock had a trading volume of 5,426,489 shares, compared to its average volume of 12,685,667. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -15.06, a P/E/G ratio of 0.98 and a beta of 1.61. Under Armour has a 52-week low of $4.78 and a 52-week high of $11.89. The company's 50 day moving average price is $6.53 and its 200 day moving average price is $6.93. The company has a current ratio of 2.10, a quick ratio of 1.25 and a debt-to-equity ratio of 0.31.

Under Armour (NYSE:UAA - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.01. Under Armour had a positive return on equity of 7.04% and a negative net margin of 3.90%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the company earned $0.11 EPS. The firm's revenue for the quarter was down 11.4% compared to the same quarter last year. On average, research analysts anticipate that Under Armour will post 0.3 EPS for the current year.

Insider Buying and Selling at Under Armour

In other news, insider Mehri Shadman sold 16,287 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $6.14, for a total transaction of $100,002.18. Following the completion of the sale, the insider directly owned 191,796 shares of the company's stock, valued at $1,177,627.44. The trade was a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 hedge funds have recently added to or reduced their stakes in UAA. Mariner LLC increased its holdings in Under Armour by 10.0% during the 4th quarter. Mariner LLC now owns 17,006 shares of the company's stock worth $141,000 after acquiring an additional 1,552 shares during the period. Principal Financial Group Inc. increased its stake in Under Armour by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 435,307 shares of the company's stock worth $2,721,000 after purchasing an additional 1,888 shares during the period. Amalgamated Bank boosted its position in Under Armour by 2.4% during the 4th quarter. Amalgamated Bank now owns 87,534 shares of the company's stock valued at $725,000 after buying an additional 2,014 shares during the period. Beacon Pointe Advisors LLC grew its stake in shares of Under Armour by 10.7% in the fourth quarter. Beacon Pointe Advisors LLC now owns 21,470 shares of the company's stock worth $178,000 after purchasing an additional 2,080 shares during the last quarter. Finally, Swiss National Bank lifted its stake in Under Armour by 0.8% in the fourth quarter. Swiss National Bank now owns 371,400 shares of the company's stock worth $3,075,000 after acquiring an additional 2,800 shares during the period. Institutional investors own 34.58% of the company's stock.

About Under Armour

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.