Truist Financial Issues Positive Forecast for Under Armour (NYSE:UAA) Stock Price

Under Armour (NYSE:UAA) had its price objective lifted by analysts at Truist Financial from $8.00 to $11.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential upside of 4.66% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Barclays increased their price target on shares of Under Armour from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Wedbush increased their price target on shares of Under Armour from $8.00 to $8.50 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Robert W. Baird increased their price target on shares of Under Armour from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday. Stifel Nicolaus raised their price objective on shares of Under Armour from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $8.00 price objective on shares of Under Armour in a research report on Monday. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Under Armour presently has an average rating of “Hold” and a consensus target price of $8.24.

Under Armour Stock Performance

Under Armour stock traded down $0.62 during midday trading on Friday, reaching $10.51. 2,273,615 shares of the company traded hands, compared to its average volume of 10,142,527. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of -58.50, a price-to-earnings-growth ratio of 4.06 and a beta of 1.66. The business has a 50 day moving average of $8.43 and a two-hundred day moving average of $7.50. Under Armour has a 12 month low of $6.17 and a 12 month high of $11.89. 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 quarterly earnings data on Thursday, August 8th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.02 earnings per share. As a group, research analysts predict that Under Armour will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Under Armour

Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new position in shares of Under Armour in the 3rd quarter worth $56,000. CWM LLC grew its stake in shares of Under Armour by 20.7% in the 3rd quarter. CWM LLC now owns 8,211 shares of the company’s stock worth $73,000 after buying an additional 1,409 shares in the last quarter. City State Bank grew its stake in shares of Under Armour by 292.6% in the 3rd quarter. City State Bank now owns 10,063 shares of the company’s stock worth $90,000 after buying an additional 7,500 shares in the last quarter. Baker Avenue Asset Management LP purchased a new position in shares of Under Armour in the 3rd quarter worth $92,000. Finally, KBC Group NV grew its stake in shares of Under Armour by 39.6% in the 3rd quarter. KBC Group NV now owns 10,659 shares of the company’s stock worth $95,000 after buying an additional 3,024 shares in the last quarter. 34.58% of the stock is owned by hedge funds and other institutional investors.

About Under Armour

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.