Under Armour (NYSE:UAA) Shares Up 2.9%

Shares of Under Armour, Inc. (NYSE:UAA) shot up 2.9% on Tuesday . The stock traded as high as $7.91 and last traded at $7.91. 3,181,254 shares traded hands during trading, a decline of 65% from the average session volume of 9,176,739 shares. The stock had previously closed at $7.69.

Analyst Ratings Changes

Several brokerages recently weighed in on UAA. Barclays boosted their target price on Under Armour from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Morgan Stanley cut Under Armour from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $8.00 to $4.00 in a report on Tuesday, July 23rd. JPMorgan Chase & Co. cut Under Armour from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $8.00 to $6.00 in a report on Thursday, May 16th. Bank of America reduced their price target on Under Armour from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, May 17th. Finally, BMO Capital Markets cut their price objective on Under Armour from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, May 17th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.50.

Under Armour Stock Down 4.5 %

The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 3.53 and a beta of 1.65. The firm’s fifty day moving average is $7.24 and its 200-day moving average is $7.22. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.73 and a quick ratio of 1.08.

Under Armour (NYSE:UAA) last issued 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. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Under Armour had a negative net margin of 1.35% and a positive return on equity of 11.98%. The firm’s revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.02 earnings per share. On average, sell-side analysts predict that Under Armour, Inc. will post 0.22 earnings per share for the current year.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Under Armour by 1.0% in the first quarter. Vanguard Group Inc. now owns 18,247,340 shares of the company’s stock worth $134,665,000 after acquiring an additional 173,817 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Under Armour by 12.7% during the second quarter. Dimensional Fund Advisors LP now owns 9,351,829 shares of the company’s stock worth $62,376,000 after purchasing an additional 1,051,143 shares during the period. Disciplined Growth Investors Inc. MN boosted its holdings in shares of Under Armour by 1.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 5,412,643 shares of the company’s stock worth $36,102,000 after purchasing an additional 70,731 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Under Armour by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,147,411 shares of the company’s stock worth $36,456,000 after purchasing an additional 203,666 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings 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 worth $28,712,000 after purchasing an additional 831,202 shares during the period. 34.58% of the stock is owned by hedge funds and other institutional investors.

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.