Under Armour Inc. (UA)

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Under Armour Inc (UA) Cut to “Underweight” at Morgan Stanley
Posted by Reagan on Jan 11th, 2016--48 minutes ago
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Under Armour Inc (NYSE:UA) was downgraded by Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research note issued on Monday, StockTargetPrices.com reports. They presently have a $62.00 price objective on the apparel retailer’s stock, down from their previous price objective of $103.00. Morgan Stanley’s price objective would indicate a potential downside of 17.33% from the stock’s previous close.

UA has been the subject of several other reports. Zacks Investment Research downgraded shares of Under Armour from a “hold” rating to a “sell” rating in a research note on Monday, January 4th. Citigroup Inc. restated a “buy” rating and issued a $116.00 target price (up from $114.00) on shares of Under Armour in a research note on Wednesday, October 7th. Macquarie reiterated a “neutral” rating and set a $103.00 price objective on shares of Under Armour in a research note on Saturday, October 24th.

Piper Jaffray reiterated a “neutral” rating and set a $88.00 price objective (down from $97.00) on shares of Under Armour in a research note on Monday, November 30th. Finally, Brean Capital reiterated a “buy” rating on shares of Under Armour in a research note on Tuesday, December 29th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $102.81.

Shares of Under Armour (NYSE:UA) opened at 75.00 on Monday. The stock has a market capitalization of $16.19 billion and a price-to-earnings ratio of 76.69. Under Armour has a 1-year low of $63.77 and a 1-year high of $105.89. The stock has a 50 day moving average price of $83.95 and a 200 day moving average price of $92.24.

Under Armour (NYSE:UA) last announced its earnings results on Thursday, October 22nd. The apparel retailer reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01.

The firm earned $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business earned $0.41 earnings per share. Under Armour’s revenue was up 28.4% on a year-over-year basis. Equities research analysts anticipate that Under Armour will post $1.05 EPS for the current year.

In other news, CEO Kevin A. Plank sold 450,000 shares of the company’s stock in a transaction on Monday, November 23rd. The shares were sold at an average price of $91.99, for a total value of $41,395,500.00. Following the completion of the transaction, the chief executive officer now owns 190,123 shares in the company, valued at approximately $17,489,414.77.

The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brad Dickerson sold 10,000 shares of the company’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $95.56, for a total transaction of $955,600.00. Following the completion of the transaction, the chief financial officer now owns 56,838 shares of the company’s stock, valued at approximately $5,431,439.28. The disclosure for this sale can be found here.

Other hedge funds have recently added to or reduced their stakes in the company. KSA Capital Management purchased a new stake in Under Armour during the third quarter valued at approximately $3,871,000.

Perigon Wealth Management boosted its stake in Under Armour by 1.4% in the third quarter. Perigon Wealth Management now owns 10,191 shares of the apparel retailer’s stock valued at $986,000 after buying an additional 136 shares during the period. Saturna Capital boosted its stake in Under Armour by 19.1% in the third quarter. Saturna Capital now owns 15,768 shares of the apparel retailer’s stock valued at $1,526,000 after buying an additional 2,525 shares during the period. KBC Group boosted its stake in Under Armour by 14.7% in the third quarter.

KBC Group now owns 9,386 shares of the apparel retailer’s stock valued at $909,000 after buying an additional 1,203 shares during the period. Finally, Lowe FS boosted its stake in Under Armour by 30.1% in the third quarter. Lowe FS now owns 2,394 shares of the apparel retailer’s stock valued at $232,000 after buying an additional 554 shares during the period.

Under Armour, Inc. is engaged in the development, marketing and distribution of branded performance apparel, footwear and accessories for men, women and youth. The Company’s moisture-wicking fabrications are engineered in a range of designs and styles for wear in nearly every climate to provide an alternative to traditional products. The Company’s operating segments include North America, consisting of the United States and Canada; Europe, the Middle East and Africa (NYSE:UA); Asia-Pacific; Latin America, and MapMyFitness.

The Company also offers digital fitness platform licenses and subscriptions, along with digital advertising through its MapMyFitness business. Its apparel offers three gearlines, including HEATGEAR, COLDGEAR and ALLSEASONGEAR. Its footwear offerings include football, baseball, lacrosse, softball and soccer cleats, slides and performance training, running, basketball and outdoor footwear. Its accessories primarily include the sale of headwear, bags and gloves.




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