Wells Fargo & Company Lowers Under Armour (NYSE:UAA) Price Target to $7.00

Under Armour (NYSE:UAA) had its target price dropped by equities research analysts at Wells Fargo & Company from $8.00 to $7.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 4.63% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the company. Williams Trading reiterated a “hold” rating and set a $8.00 price target on shares of Under Armour in a report on Thursday, March 14th. Evercore ISI reissued an “underperform” rating and issued a $7.00 target price (down previously from $8.00) on shares of Under Armour in a research report on Thursday, March 14th. TheStreet upgraded Under Armour from a “d+” rating to a “c-” rating in a research report on Thursday, February 8th. BNP Paribas reissued a “neutral” rating on shares of Under Armour in a research note on Thursday, March 14th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $9.00 price objective on shares of Under Armour in a report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, Under Armour currently has an average rating of “Hold” and a consensus target price of $8.55.

Under Armour Price Performance

Shares of Under Armour stock traded down $0.16 on Thursday, hitting $6.69. 461,668 shares of the company were exchanged, compared to its average volume of 6,920,198. Under Armour has a 1-year low of $6.29 and a 1-year high of $9.50. The company has a quick ratio of 1.38, a current ratio of 2.13 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 7.43, a price-to-earnings-growth ratio of 1.18 and a beta of 1.64. The company has a 50-day moving average price of $7.57 and a 200 day moving average price of $7.75.

Under Armour (NYSE:UAA) last issued its earnings results on Thursday, February 8th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.08. Under Armour had a return on equity of 13.85% and a net margin of 6.98%. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the business earned $0.16 EPS. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, sell-side analysts predict that Under Armour will post 0.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in UAA. Hexagon Capital Partners LLC lifted its stake in Under Armour by 101.1% during 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 during the last quarter. Global Retirement Partners LLC lifted its position in shares of Under Armour by 43.3% during the 4th quarter. Global Retirement Partners LLC now owns 6,769 shares of the company’s stock worth $59,000 after buying an additional 2,044 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Under Armour by 9.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 25,345 shares of the company’s stock valued at $174,000 after buying an additional 2,138 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Under Armour by 119.2% in the 3rd quarter. Signaturefd LLC now owns 4,090 shares of the company’s stock valued at $28,000 after buying an additional 2,224 shares in the last quarter. Finally, Raymond James & Associates grew its position in shares of Under Armour by 6.3% in the 4th quarter. Raymond James & Associates now owns 38,387 shares of the company’s stock valued at $337,000 after buying an additional 2,281 shares during the last quarter. 34.58% of the stock is owned by institutional investors and hedge funds.

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.