Under Armour (NYSE:UAA) Shares Gap Down to $6.69

Shares of Under Armour, Inc. (NYSE:UAA) gapped down before the market opened on Tuesday . The stock had previously closed at $6.69, but opened at $6.49. Under Armour shares last traded at $6.62, with a volume of 1,130,380 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on UAA. William Blair lowered Under Armour from an “outperform” rating to a “market perform” rating in a report on Thursday, May 16th. JPMorgan Chase & Co. lowered shares of Under Armour from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $8.00 to $6.00 in a report on Thursday, May 16th. Evercore ISI lowered their price target on Under Armour from $7.00 to $6.00 and set an “underperform” rating for the company in a report on Friday, May 17th. Truist Financial decreased their price objective on Under Armour from $8.00 to $7.00 and set a “hold” rating for the company in a report on Friday, May 17th. Finally, Barclays dropped their target price on shares of Under Armour from $9.00 to $6.00 and set an “equal weight” rating on the stock in a report on Monday, May 20th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.04.

Under Armour Trading Down 0.5 %

The firm has a market cap of $2.85 billion, a PE ratio of 12.09, a P/E/G ratio of 3.32 and a beta of 1.67. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.63 and a current ratio of 2.46. The company has a 50 day simple moving average of $6.80 and a two-hundred day simple moving average of $7.27.

Under Armour (NYSE:UAA) last issued its quarterly earnings results on Thursday, May 16th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.04. Under Armour had a net margin of 4.19% and a return on equity of 11.95%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company earned $0.18 EPS. Under Armour’s quarterly revenue was down 4.7% on a year-over-year basis. Analysts expect that Under Armour, Inc. will post 0.2 EPS for the current fiscal year.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of UAA. Keener Financial Planning LLC acquired a new stake in Under Armour during the fourth quarter valued at $26,000. Hexagon Capital Partners LLC increased its holdings in Under Armour by 101.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,760 shares of the company’s stock worth $28,000 after acquiring an additional 1,890 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of Under Armour by 43.3% in the fourth quarter. Global Retirement Partners LLC now owns 6,769 shares of the company’s stock valued at $59,000 after purchasing an additional 2,044 shares during the period. M&T Bank Corp purchased a new stake in Under Armour during the 4th quarter worth approximately $91,000. Finally, KG&L Capital Management LLC purchased a new position in shares of Under Armour in the first quarter valued at approximately $98,000. 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.