Oppenheimer Lowers Under Armour (NYSE:UAA) to Market Perform

Oppenheimer cut shares of Under Armour (NYSE:UAA) from an outperform rating to a market perform rating in a research note published on Thursday morning, MarketBeat reports.

Several other equities analysts also recently weighed in on UAA. Evercore ISI cut their target price on Under Armour from $7.00 to $6.00 and set an underperform rating on the stock in a research report on Friday, May 17th. TheStreet raised Under Armour from a d+ rating to a c- rating in a research report on Thursday, February 8th. Bank of America cut their price objective on Under Armour from $9.00 to $8.00 and set a neutral rating on the stock in a research report on Friday, May 17th. BNP Paribas reaffirmed a neutral rating on shares of Under Armour in a research report on Thursday, March 14th. Finally, Truist Financial cut their price objective on Under Armour from $8.00 to $7.00 and set a hold rating on the stock in a research report on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average price target of $7.32.

Under Armour Stock Down 1.0 %

NYSE UAA opened at $6.65 on Thursday. The stock’s 50 day moving average is $6.86 and its 200 day moving average is $7.70. The company has a current ratio of 2.46, a quick ratio of 1.63 and a debt-to-equity ratio of 0.28. Under Armour has a 12 month low of $6.18 and a 12 month high of $9.50. The stock has a market cap of $2.89 billion, a PE ratio of 12.31, a P/E/G ratio of 2.96 and a beta of 1.63.

Under Armour (NYSE:UAA) last issued its quarterly earnings data on Thursday, May 16th. The company reported $0.11 earnings per share (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 analysts’ expectations of $1.33 billion. Under Armour had a return on equity of 11.95% and a net margin of 4.19%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. Research analysts predict that Under Armour will post 0.23 EPS for the current fiscal year.

Under Armour announced that its Board of Directors has authorized a share repurchase program on Thursday, May 16th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 16.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Under Armour

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Under Armour by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 18,247,340 shares of the company’s stock worth $134,665,000 after purchasing an additional 173,817 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Under Armour by 29.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,154,871 shares of the company’s stock worth $62,893,000 after purchasing an additional 1,636,634 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Under Armour by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,147,411 shares of the company’s stock worth $36,456,000 after purchasing an additional 203,666 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Under Armour by 27.2% during the 1st quarter. Janus Henderson Group PLC now owns 3,890,428 shares of the company’s stock worth $28,712,000 after purchasing an additional 831,202 shares during the last quarter. Finally, Glenmede Trust Co. NA purchased a new stake in shares of Under Armour during the 3rd quarter worth $10,741,000. 34.58% of the stock is currently owned by hedge funds and other institutional investors.

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.