Truist Financial Raises Under Armour (NYSE:UAA) Price Target to $8.00

Under Armour (NYSE:UAA) had its price objective hoisted by investment analysts at Truist Financial from $7.00 to $8.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price would suggest a potential upside of 2.04% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Wedbush boosted their target price on Under Armour from $8.00 to $8.50 and gave the stock an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. downgraded shares of Under Armour from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $8.00 to $6.00 in a report on Thursday, May 16th. Wells Fargo & Company decreased their target price on shares of Under Armour from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, May 17th. Barclays lifted their price target on Under Armour from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Evercore ISI cut their target price on Under Armour from $7.00 to $6.00 and set an “underperform” rating on the stock in a research note on Friday, May 17th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.50.

Under Armour Stock Performance

Shares of UAA stock traded up $0.13 on Friday, reaching $7.84. The stock had a trading volume of 4,279,812 shares, compared to its average volume of 8,747,140. The stock has a market cap of $3.42 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 3.37 and a beta of 1.67. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.63 and a current ratio of 2.46. Under Armour has a 1 year low of $6.17 and a 1 year high of $9.50. The company has a 50 day simple moving average of $6.79 and a 200 day simple moving average of $7.19.

Under Armour (NYSE:UAA) last announced its earnings results on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.09. Under Armour had a return on equity of 11.95% and a net margin of 4.19%. 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 posted $0.02 earnings per share. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. Equities research analysts expect that Under Armour will post 0.19 EPS for the current year.

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

Institutional Investors Weigh In On Under Armour

Hedge funds have recently bought and sold shares of the stock. Teacher Retirement System of Texas increased its holdings in shares of Under Armour by 39.3% during the 4th quarter. Teacher Retirement System of Texas now owns 27,524 shares of the company’s stock valued at $242,000 after purchasing an additional 7,771 shares in the last quarter. Dimensional Fund Advisors LP grew its position in 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 period. Jupiter Asset Management Ltd. purchased a new position in Under Armour in the first quarter valued at $8,944,000. Virtu Financial LLC acquired a new position in shares of Under Armour in the fourth quarter worth about $440,000. Finally, Hexagon Capital Partners LLC boosted its stake in shares of Under Armour by 101.1% during the 1st 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 in the last quarter. Hedge funds and other 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.