Under Armour (NYSE:UAA) Reaches New 12-Month High – Still a Buy?

Shares of Under Armour, Inc. (NYSE:UAA) hit a new 52-week high during trading on Tuesday . The stock traded as high as $9.50 and last traded at $9.46, with a volume of 11907104 shares traded. The stock had previously closed at $9.06.

Analysts Set New Price Targets

UAA has been the topic of several research reports. Argus upgraded Under Armour to a “strong-buy” rating in a research note on Thursday, August 15th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 price objective on shares of Under Armour in a report on Monday, August 5th. Morgan Stanley lowered shares of Under Armour from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $8.00 to $4.00 in a research report on Tuesday, July 23rd. Stifel Nicolaus upped their price target on shares of Under Armour from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Truist Financial lifted their price objective on shares of Under Armour from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.57.

Under Armour Stock Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.08 and a current ratio of 1.73. The company has a market cap of $4.10 billion, a PE ratio of -52.55, a PEG ratio of 4.41 and a beta of 1.66. The business’s 50-day moving average is $8.17 and its 200 day moving average is $7.26.

Under Armour (NYSE:UAA) last issued its earnings results on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the business earned $0.02 earnings per share. The business’s revenue was down 10.1% on a year-over-year basis. On average, equities research analysts predict that Under Armour, Inc. will post 0.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Under Armour

A number of institutional investors have recently bought and sold shares of UAA. Jupiter Asset Management Ltd. purchased a new stake in shares of Under Armour in the 1st quarter worth about $8,944,000. Dimensional Fund Advisors LP grew its holdings in Under Armour by 12.7% in 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. Janus Henderson Group PLC increased its stake 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 valued at $28,712,000 after purchasing an additional 831,202 shares in the last quarter. Lumbard & Kellner LLC purchased a new position in shares of Under Armour during the first quarter valued at approximately $3,394,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Under Armour during the first quarter valued at approximately $1,471,000. 34.58% of the stock is owned by 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.