Citigroup Cuts Under Armour (NYSE:UAA) Price Target to $5.50

Under Armour (NYSE:UAA) had its price objective decreased by analysts at Citigroup from $6.00 to $5.50 in a research note issued on Monday, Marketbeat.com reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target would indicate a potential upside of 9.56% from the company’s previous close.

UAA has been the topic of several other reports. The Goldman Sachs Group started coverage on Under Armour in a research report on Wednesday, July 2nd. They issued a “neutral” rating and a $7.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of Under Armour in a research report on Wednesday, May 14th. Evercore ISI reduced their price target on Under Armour from $7.00 to $6.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 14th. Telsey Advisory Group reduced their price target on Under Armour from $7.00 to $5.00 and set a “market perform” rating on the stock in a research report on Monday. Finally, Bank of America dropped their price objective on Under Armour from $8.00 to $6.50 and set a “neutral” rating on the stock in a research note on Monday. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.74.

Under Armour Trading Down 2.0%

UAA stock traded down $0.10 during midday trading on Monday, reaching $5.02. The stock had a trading volume of 25,198,746 shares, compared to its average volume of 13,015,189. The business has a fifty day simple moving average of $6.78 and a two-hundred day simple moving average of $6.64. The company has a quick ratio of 0.93, a current ratio of 1.53 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 0.76 and a beta of 1.61. Under Armour has a twelve month low of $4.78 and a twelve month high of $11.89.

Under Armour (NYSE:UAA) last announced its quarterly earnings data on Friday, August 8th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Under Armour had a return on equity of 7.24% and a net margin of 1.99%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the business earned $0.01 earnings per share. Under Armour’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, research analysts expect that Under Armour will post 0.3 EPS for the current fiscal year.

Insider Activity

In other Under Armour news, insider Mehri Shadman sold 16,287 shares of Under Armour stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $6.14, for a total value of $100,002.18. Following the sale, the insider owned 191,796 shares of the company’s stock, valued at $1,177,627.44. This trade represents a 7.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 15.60% of the stock is owned by corporate insiders.

Institutional Trading of Under Armour

Several hedge funds and other institutional investors have recently modified their holdings of UAA. JPMorgan Chase & Co. increased its position in shares of Under Armour by 36.5% in the fourth quarter. JPMorgan Chase & Co. now owns 554,525 shares of the company’s stock valued at $4,591,000 after acquiring an additional 148,280 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Under Armour by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 2,890,105 shares of the company’s stock valued at $23,940,000 after acquiring an additional 9,024 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Under Armour by 183.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 35,689 shares of the company’s stock worth $296,000 after purchasing an additional 23,111 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Under Armour during the 4th quarter worth approximately $439,000. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Under Armour by 10.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 127,071 shares of the company’s stock worth $1,052,000 after purchasing an additional 11,624 shares in the last quarter. Institutional investors and hedge funds own 34.58% of the company’s stock.

Under Armour Company Profile

Under Armour, Inc, together with its subsidiaries, engages developing, marketing, and distributing 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.