Barclays Increases Under Armour (NYSE:UAA) Price Target to $8.00

Under Armour (NYSE:UAA) had its target price boosted by investment analysts at Barclays from $6.00 to $8.00 in a report released on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 2.04% from the company’s current price.

A number of other research analysts also recently issued reports on UAA. Bank of America dropped their target price on shares of Under Armour from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, May 17th. Morgan Stanley cut Under Armour from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $8.00 to $4.00 in a research note on Tuesday, July 23rd. Citigroup reduced their target price on shares of Under Armour from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. William Blair lowered shares of Under Armour from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 16th. Finally, JPMorgan Chase & Co. cut shares of Under Armour from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $8.00 to $6.00 in a report on Thursday, May 16th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.50.

Under Armour Price Performance

Shares of Under Armour stock traded up $0.13 during midday trading on Friday, hitting $7.84. 4,279,812 shares of the company traded hands, compared to its average volume of 8,747,140. Under Armour has a 12 month low of $6.17 and a 12 month high of $9.50. 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 stock has a market cap of $3.42 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 3.37 and a beta of 1.67. The firm’s fifty day moving average price is $6.79 and its 200-day moving average price is $7.19.

Under Armour (NYSE:UAA) last announced its earnings results on Thursday, August 8th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. Under Armour had a net margin of 4.19% and a return on equity of 11.95%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the firm earned $0.02 earnings per share. Under Armour’s quarterly revenue was down 10.1% on a year-over-year basis. As a group, sell-side analysts forecast that Under Armour will post 0.19 earnings per share for the current year.

Under Armour declared that its board has approved a stock repurchase program on Thursday, May 16th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 16.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Under Armour

Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of Under Armour by 29.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,154,871 shares of the company’s stock valued at $62,893,000 after buying an additional 1,636,634 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in Under Armour in the first quarter valued at approximately $8,944,000. Norges Bank bought a new stake in Under Armour in the fourth quarter valued at approximately $10,348,000. Janus Henderson Group PLC boosted its stake in shares of Under Armour by 27.2% during the first quarter. Janus Henderson Group PLC now owns 3,890,428 shares of the company’s stock valued at $28,712,000 after purchasing an additional 831,202 shares during the period. Finally, Lumbard & Kellner LLC bought a new position in shares of Under Armour in the first quarter worth approximately $3,394,000. 34.58% of the stock is owned by 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.