Under Armour (NYSE:UAA) Given New $6.50 Price Target at Bank of America

Key Points

• Bank of America has lowered its price target for Under Armour from $8.00 to $6.50, currently rating the stock as "neutral," suggesting a potential upside of 19.71% from its current price.
• Under Armour's quarterly earnings missed analysts' expectations with an EPS of $0.02 against a forecast of $0.03, while revenue remained flat at $1.13 billion, down 4.2% year-over-year.
• Current ratings show 13 hold ratings, 4 sell ratings, and 3 buy ratings on Under Armour, with an average target price of $6.87.

Under Armour (NYSE:UAA - Get Free Report) had its price objective decreased by equities research analysts at Bank of America from $8.00 to $6.50 in a report issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Bank of America's price target would suggest a potential upside of 31.98% from the stock's current price.

UAA has been the subject of a number of other reports. Wells Fargo & Company upped their price target on shares of Under Armour from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Truist Financial cut their price target on shares of Under Armour from $9.00 to $7.00 and set a "hold" rating on the stock in a report on Wednesday, May 14th. Telsey Advisory Group reiterated a "market perform" rating and set a $7.00 target price on shares of Under Armour in a report on Monday, August 4th. Stifel Nicolaus decreased their price target on shares of Under Armour from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Finally, Wall Street Zen cut shares of Under Armour from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Under Armour currently has a consensus rating of "Hold" and a consensus price target of $6.74.

Under Armour Stock Performance

Shares of UAA stock traded down $0.14 during trading hours on Monday, reaching $4.93. The company had a trading volume of 20,801,690 shares, compared to its average volume of 13,133,479. The business has a fifty day moving average price of $6.72 and a 200-day moving average price of $6.62. Under Armour has a one year low of $4.78 and a one year high of $11.89. The firm has a market cap of $2.12 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 1.85 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.

Under Armour (NYSE:UAA - Get Free Report) last announced 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 for 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 quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 earnings per share. Sell-side analysts predict that Under Armour will post 0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Under Armour news, insider Mehri Shadman sold 16,287 shares of the company's stock in a transaction on 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 transaction, the insider directly owned 191,796 shares in the company, valued at approximately $1,177,627.44. This represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 15.60% of the company's stock.

Institutional Investors Weigh In On Under Armour

Hedge funds have recently modified their holdings of the business. Alyeska Investment Group L.P. grew its holdings in shares of Under Armour by 55.7% in the fourth quarter. Alyeska Investment Group L.P. now owns 9,789,553 shares of the company's stock valued at $81,057,000 after purchasing an additional 3,503,006 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Under Armour during the fourth quarter valued at about $28,249,000. Boston Partners acquired a new stake in shares of Under Armour during the first quarter valued at about $17,745,000. Jupiter Asset Management Ltd. increased its position in shares of Under Armour by 249.4% during the second quarter. Jupiter Asset Management Ltd. now owns 2,379,513 shares of the company's stock valued at $16,252,000 after acquiring an additional 1,698,467 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Under Armour by 109.3% during the second quarter. Marshall Wace LLP now owns 2,944,567 shares of the company's stock valued at $20,111,000 after acquiring an additional 1,537,713 shares during the last quarter. 34.58% of the stock is currently owned by institutional investors and hedge funds.

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.