Under Armour (NYSE:UAA) Hits New 52-Week High – Here’s Why

Under Armour, Inc. (NYSE:UAA) hit a new 52-week high during trading on Thursday . The stock traded as high as $11.17 and last traded at $11.11, with a volume of 3230193 shares traded. The stock had previously closed at $8.75.

Analyst Ratings Changes

Several research analysts have commented on UAA shares. Barclays upped their price objective on shares of Under Armour from $6.00 to $8.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Stifel Nicolaus increased 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. UBS Group raised their price target on shares of Under Armour from $12.00 to $16.00 and gave the company a “buy” rating in a report on Friday. Argus raised shares of Under Armour to a “strong-buy” rating in a report on Thursday, August 15th. Finally, TD Cowen increased their price objective on shares of Under Armour from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Under Armour presently has a consensus rating of “Hold” and an average target price of $8.76.

Under Armour Stock Performance

The stock has a market cap of $4.18 billion, a P/E ratio of -53.75, a PEG ratio of 4.06 and a beta of 1.66. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.73 and a quick ratio of 1.08. The firm’s 50-day moving average price is $8.47 and its 200-day moving average price is $7.52.

Under Armour (NYSE:UAA) last posted its 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 negative net margin of 1.35% and a positive return on equity of 11.98%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm posted $0.02 earnings per share. Under Armour’s revenue for the quarter was down 10.1% compared to the same quarter last year. Sell-side analysts expect that Under Armour, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new position in Under Armour during the third quarter worth $56,000. Optas LLC purchased a new position in Under Armour during the second quarter worth $72,000. CWM LLC boosted its stake in Under Armour by 20.7% during the third quarter. CWM LLC now owns 8,211 shares of the company’s stock worth $73,000 after buying an additional 1,409 shares during the period. Koss Olinger Consulting LLC purchased a new position in Under Armour during the second quarter worth $79,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Under Armour during the second quarter worth $80,000. 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.