Under Armour (NYSE:UAA) Trading Down 6.3%

Under Armour, Inc. (NYSE:UAA)’s stock price dropped 6.3% on Wednesday . The company traded as low as $7.79 and last traded at $7.84. Approximately 6,643,149 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 9,145,593 shares. The stock had previously closed at $8.37.

Analyst Ratings Changes

UAA has been the subject of a number of recent research reports. Oppenheimer cut shares of Under Armour from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 23rd. Stifel Nicolaus lifted their target price on shares of Under Armour from $9.00 to $10.00 and gave the company a “buy” rating in a report on Friday, August 9th. Morgan Stanley cut Under Armour from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $8.00 to $4.00 in a research report on Tuesday, July 23rd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 price objective on shares of Under Armour in a research report on Monday, August 5th. Finally, Wedbush boosted their target price on Under Armour from $8.00 to $8.50 and gave the stock an “outperform” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Under Armour currently has a consensus rating of “Hold” and an average target price of $7.50.

Under Armour Stock Performance

The company has a market cap of $3.40 billion, a P/E ratio of 14.52, a PEG ratio of 3.81 and a beta of 1.67. The business’s 50 day simple moving average is $7.14 and its 200 day simple moving average is $7.22. The company has a current ratio of 1.73, a quick ratio of 1.08 and a debt-to-equity ratio of 0.33.

Under Armour (NYSE:UAA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. Under Armour had a positive return on equity of 11.98% and a negative net margin of 1.35%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the firm earned $0.02 earnings per share. The business’s quarterly revenue was down 10.1% on a year-over-year basis. Sell-side analysts predict that Under Armour, Inc. will post 0.22 earnings per share for the current fiscal year.

Under Armour announced that its board has initiated a share buyback plan on Thursday, May 16th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 16.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Under Armour

Institutional investors and hedge funds have recently made changes to their positions in the business. Hexagon Capital Partners LLC lifted its holdings in shares of Under Armour by 101.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,760 shares of the company’s stock valued at $28,000 after acquiring an additional 1,890 shares during the last quarter. Optas LLC purchased a new position in shares of Under Armour in the 2nd quarter worth approximately $72,000. Koss Olinger Consulting LLC bought a new position in shares of Under Armour during the 2nd quarter valued at approximately $79,000. DekaBank Deutsche Girozentrale bought a new stake in Under Armour in the second quarter worth $80,000. Finally, M&T Bank Corp purchased a new position in Under Armour during the fourth quarter worth $91,000. 34.58% of the stock is owned by hedge funds and other institutional investors.

Under Armour Company Profile

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.