Under Armour (NYSE:UAA) Price Target Cut to $6.00 by Analysts at Barclays

Under Armour (NYSE:UAA) had its price target lowered by Barclays from $9.00 to $6.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

UAA has been the topic of several other reports. Bank of America decreased their price target on shares of Under Armour from $9.00 to $8.00 and set a neutral rating on the stock in a research note on Friday, May 17th. TheStreet upgraded shares of Under Armour from a d+ rating to a c- rating in a research note on Thursday, February 8th. 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. BMO Capital Markets reduced their price objective on shares of Under Armour from $12.00 to $10.00 and set an outperform rating on the stock in a research note on Friday, May 17th. Finally, Williams Trading reiterated a hold rating and set a $8.00 price objective on shares of Under Armour in a research note on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Under Armour has an average rating of Hold and a consensus target price of $7.32.

Under Armour Price Performance

Shares of UAA opened at $6.71 on Monday. The firm has a market capitalization of $2.92 billion, a PE ratio of 12.43, a PEG ratio of 2.98 and a beta of 1.63. The company’s 50-day moving average is $6.87 and its 200-day moving average is $7.71. Under Armour has a fifty-two week low of $6.18 and a fifty-two week high of $9.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.46 and a quick ratio of 1.63.

Under Armour (NYSE:UAA) last issued its quarterly earnings data on Thursday, May 16th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.04. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. Under Armour had a net margin of 4.19% and a return on equity of 11.95%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 earnings per share. Equities analysts forecast that Under Armour will post 0.23 EPS for the current year.

Under Armour announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 16.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Under Armour

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Keener Financial Planning LLC bought a new position in Under Armour in the fourth quarter worth $26,000. Hexagon Capital Partners LLC raised its holdings in Under Armour by 101.1% in the first quarter. Hexagon Capital Partners LLC now owns 3,760 shares of the company’s stock worth $28,000 after purchasing an additional 1,890 shares in the last quarter. Signaturefd LLC raised its holdings in Under Armour by 119.2% in the third quarter. Signaturefd LLC now owns 4,090 shares of the company’s stock worth $28,000 after purchasing an additional 2,224 shares in the last quarter. Global Retirement Partners LLC raised its holdings in Under Armour by 43.3% in the fourth quarter. Global Retirement Partners LLC now owns 6,769 shares of the company’s stock worth $59,000 after purchasing an additional 2,044 shares in the last quarter. Finally, M&T Bank Corp bought a new position in Under Armour in the fourth quarter worth $91,000. 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.