Under Armour (NYSE:UAA) Trading 8.7% Higher

Under Armour, Inc. (NYSE:UAA - Get Free Report)'s stock price shot up 8.7% during trading on Thursday . The stock traded as high as $7.40 and last traded at $7.38. 21,098,264 shares changed hands during mid-day trading, an increase of 121% from the average session volume of 9,558,500 shares. The stock had previously closed at $6.79.

Analysts Set New Price Targets

UAA has been the subject of a number of recent analyst reports. Telsey Advisory Group restated a "market perform" rating and set a $7.00 price objective on shares of Under Armour in a research note on Monday, August 5th. Argus upgraded shares of Under Armour to a "strong-buy" rating in a research note on Thursday, August 15th. Wells Fargo & Company reduced their price objective on shares of Under Armour from $7.00 to $6.00 and set an "equal weight" rating on the stock in a research note on Friday, May 17th. Morgan Stanley downgraded shares of 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 research report on Tuesday, July 23rd. Finally, BMO Capital Markets cut their target price on shares of Under Armour from $12.00 to $10.00 and set an "outperform" rating on the stock in a report on Friday, May 17th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Under Armour presently has an average rating of "Hold" and an average target price of $7.50.

Under Armour Trading Up 7.7 %

The company has a current ratio of 1.73, a quick ratio of 1.08 and a debt-to-equity ratio of 0.33. The firm has a market cap of $3.16 billion, a PE ratio of 13.67, a P/E/G ratio of 3.57 and a beta of 1.65. The company's 50-day moving average is $7.32 and its 200 day moving average is $7.18.

Under Armour (NYSE:UAA - Get Free Report) last issued its quarterly earnings results 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. Under Armour had a positive return on equity of 11.98% and a negative net margin of 1.35%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company posted $0.02 earnings per share. Under Armour's revenue for the quarter was down 10.1% compared to the same quarter last year. As a group, sell-side analysts predict that Under Armour, Inc. will post 0.22 EPS for the current year.

Under Armour announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 16th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 16.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Under Armour

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UAA. 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 acquiring an additional 7,771 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Under Armour by 29.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,154,871 shares of the company's stock worth $62,893,000 after acquiring an additional 1,636,634 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of Under Armour in the first quarter valued at about $8,944,000. Virtu Financial LLC acquired a new position in shares of Under Armour during the 4th quarter worth about $440,000. Finally, Hexagon Capital Partners LLC boosted its stake in Under Armour by 101.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 3,760 shares of the company's stock valued at $28,000 after purchasing an additional 1,890 shares during the period. Institutional investors own 34.58% of the company's stock.

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.

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