Under Armour (NYSE:UAA) Shares Gap Down to $7.99

Under Armour, Inc. (NYSE:UAA) shares gapped down prior to trading on Monday . The stock had previously closed at $7.99, but opened at $7.82. Under Armour shares last traded at $7.60, with a volume of 1,326,454 shares traded.

Wall Street Analyst Weigh In

UAA has been the topic of several recent analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $7.00 price target on shares of Under Armour in a research note on Monday, August 5th. Truist Financial upped their target price on shares of Under Armour from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Argus raised shares of Under Armour to a “strong-buy” rating in a report on Thursday, August 15th. Wedbush upped their price objective on shares of Under Armour from $8.00 to $8.50 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, Barclays raised their price objective on shares of Under Armour from $6.00 to $8.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.57.

Under Armour Stock Performance

The firm has a fifty day moving average of $7.51 and a 200-day moving average of $7.11. The company has a quick ratio of 1.08, a current ratio of 1.73 and a debt-to-equity ratio of 0.33. The firm has a market cap of $3.45 billion, a P/E ratio of 14.80, a PEG ratio of 3.75 and a beta of 1.65.

Under Armour (NYSE:UAA) last issued its earnings results on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. Under Armour had a negative net margin of 1.35% and a positive return on equity of 11.98%. The company’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 EPS. Research analysts predict that Under Armour, Inc. will post 0.21 earnings per share for the current fiscal year.

Institutional Trading of Under Armour

Several institutional investors and hedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas grew its stake in shares of Under Armour by 39.3% during the fourth quarter. Teacher Retirement System of Texas now owns 27,524 shares of the company’s stock worth $242,000 after purchasing an additional 7,771 shares during the period. Norges Bank bought a new stake in shares of Under Armour in the 4th quarter valued at about $10,348,000. Commerce Bank increased its stake in shares of Under Armour by 101.2% in the 4th quarter. Commerce Bank now owns 51,912 shares of the company’s stock valued at $456,000 after acquiring an additional 26,107 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Under Armour in the 4th quarter valued at approximately $100,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in Under Armour during the 4th quarter worth approximately $1,204,000. Institutional investors own 34.58% of the company’s stock.

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.