Under Armour (UAA) Stock Price Up 6.9% After Strong Earnings

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Shares of Under Armour Inc (NYSE:UAA) rose 6.9% during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $22.55 and last traded at $22.21. Approximately 30,866,455 shares were traded during mid-day trading, an increase of 477% from the average daily volume of 5,352,895 shares. The stock had previously closed at $20.78.

The company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Under Armour had a negative net margin of 2.68% and a positive return on equity of 3.96%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year.

A number of equities analysts have recently issued reports on the stock. Goldman Sachs Group upgraded shares of Under Armour from a “neutral” rating to a “buy” rating and raised their target price for the stock from $24.00 to $28.00 in a research report on Tuesday, January 22nd. OTR Global upgraded shares of Under Armour from a “negative” rating to a “mixed” rating in a research report on Thursday, January 10th. Wells Fargo & Co upgraded shares of Under Armour from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $22.00 to $23.00 in a research report on Friday, November 30th. ValuEngine raised Under Armour from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, Atlantic Securities downgraded shares of Under Armour from a “neutral” rating to an “underweight” rating in a research note on Wednesday, December 19th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Under Armour has a consensus rating of “Hold” and an average price target of $22.01.

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Under Armour by 10.5% during the 4th quarter. Geode Capital Management LLC now owns 2,412,785 shares of the company’s stock worth $42,551,000 after buying an additional 228,475 shares during the period. ARP Americas LP bought a new position in Under Armour in the 4th quarter valued at $925,000. Brown Advisory Securities LLC increased its stake in shares of Under Armour by 5.4% in the 4th quarter. Brown Advisory Securities LLC now owns 14,382 shares of the company’s stock valued at $259,000 after buying an additional 741 shares during the period. Stifel Financial Corp increased its stake in shares of Under Armour by 5.1% in the 4th quarter. Stifel Financial Corp now owns 173,023 shares of the company’s stock valued at $3,091,000 after buying an additional 8,368 shares during the period. Finally, Natixis Advisors L.P. increased its stake in shares of Under Armour by 5.0% in the 4th quarter. Natixis Advisors L.P. now owns 22,511 shares of the company’s stock valued at $397,000 after buying an additional 1,077 shares during the period. 38.05% of the stock is currently owned by institutional investors.

The company has a debt-to-equity ratio of 0.35, a current ratio of 1.99 and a quick ratio of 1.09. The company has a market capitalization of $10.13 billion, a P/E ratio of 114.63, a price-to-earnings-growth ratio of 2.73 and a beta of 0.42.

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About Under Armour (NYSE:UAA)

Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes branded performance apparel, footwear, and accessories for men, women, and youth primarily in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. The company offers its apparel in compression, fitted, and loose types to be worn in hot, cold, and in between the extremes.

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