Under Armour (NYSE:UAA) Shares Gap Down to $6.99

Under Armour, Inc. (NYSE:UAA) shares gapped down prior to trading on Monday . The stock had previously closed at $6.99, but opened at $6.81. Under Armour shares last traded at $6.92, with a volume of 1,191,040 shares changing hands.

Analyst Ratings Changes

Several analysts have issued reports on UAA shares. Truist Financial dropped their price target on Under Armour from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Friday, May 17th. BNP Paribas reissued a “neutral” rating on shares of Under Armour in a research note on Thursday, March 14th. Telsey Advisory Group restated a “market perform” rating and issued a $8.00 price objective on shares of Under Armour in a report on Thursday, May 16th. Oppenheimer cut Under Armour from an “outperform” rating to a “market perform” rating in a report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. cut 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. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.32.

Under Armour Price Performance

The company has a quick ratio of 1.63, a current ratio of 2.46 and a debt-to-equity ratio of 0.28. The firm has a market cap of $3.03 billion, a P/E ratio of 12.87, a PEG ratio of 3.61 and a beta of 1.69. The business has a fifty day moving average of $6.82 and a 200 day moving average of $7.56.

Under Armour (NYSE:UAA) last posted its quarterly earnings results on Thursday, May 16th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. Under Armour had a return on equity of 11.95% and a net margin of 4.19%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the company posted $0.18 earnings per share. Under Armour’s quarterly revenue was down 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Under Armour, Inc. will post 0.2 earnings per share for the current year.

Under Armour announced that its Board of Directors has initiated a stock buyback 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 usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Under Armour

Hedge funds have recently bought and sold shares of the stock. Keener Financial Planning LLC acquired a new stake in Under Armour during the fourth quarter worth approximately $26,000. Hexagon Capital Partners LLC lifted its position in Under Armour by 101.1% during the first 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 during the last quarter. Global Retirement Partners LLC lifted its position in Under Armour by 43.3% during the fourth quarter. Global Retirement Partners LLC now owns 6,769 shares of the company’s stock worth $59,000 after acquiring an additional 2,044 shares during the last quarter. M&T Bank Corp acquired a new stake in Under Armour during the fourth quarter worth approximately $91,000. Finally, Innealta Capital LLC acquired a new stake in Under Armour during the fourth quarter worth approximately $100,000. 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, 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.