Under Armour, Inc. (NYSE:UAA) was downgraded by stock analysts at Deutsche Bank AG from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, July 25th, MarketBeat Ratings reports. They presently have a $17.00 price target on the stock, down from their prior price target of $20.27. Deutsche Bank AG’s target price would suggest a potential downside of 0.70% from the company’s current price.
The analysts wrote, “lifestyle athletic wear” as opposed to Under Armour’s “performance based style.”Increased competition in the athletic space.Heightened promotional activity across the entire sector.A slowdown in Under Armour’s direct-to-consumer segment.Also, Hibbett Sports, Inc. (NASDAQ: HIBB), an athletic specialty retailer that accounts for 16.5 percent of Under Armour’s total sales, said on Monday it expects second-quarter comps to be down 10 percent, the analyst added. This should be even more concerning for Under Armour’s investors as the Street was modeling Hibbett Sports’ stores to see just a 2-percent decline in comps and is a “reflection of the challenges the sector currently faces.”Long-Term Story QuestionableFor Under Armour’s stock to return, the company needs to return to a consistent double-digit growth rate. However, there are few drivers to support this outlook, the analyst also argued. Meanwhile, the company has “fumbled”
Several other analysts have also commented on UAA. Vetr lowered shares of Under Armour from a “strong-buy” rating to a “buy” rating and set a $22.38 price target on the stock. in a research report on Wednesday, March 29th. FBR & Co lowered shares of Under Armour from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $20.00 to $14.00 in a research report on Monday, April 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $27.00 price target on shares of Under Armour in a research report on Thursday, April 6th. Wedbush started coverage on shares of Under Armour in a research report on Tuesday, April 11th. They set a “neutral” rating and a $18.00 price target on the stock. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and set a $17.00 price target on shares of Under Armour in a research report on Tuesday, April 11th. Twelve research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $23.29.
Under Armour (UAA) traded down 3.87% during trading on Tuesday, hitting $17.12. The stock had a trading volume of 7,989,307 shares. Under Armour has a 52-week low of $16.94 and a 52-week high of $43.85. The firm’s 50-day moving average price is $19.65 and its 200-day moving average price is $20.20. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 34.66 and a beta of -0.07.
Under Armour (NYSE:UAA) last issued its earnings results on Tuesday, August 1st. The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Under Armour had a return on equity of 10.93% and a net margin of 4.38%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts predict that Under Armour will post $0.38 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: “Under Armour, Inc. (NYSE:UAA) Lowered to Sell at Deutsche Bank AG” was published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this news story on another site, it was stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this news story can be read at https://stocknewstimes.com/2017/08/19/under-armour-inc-nyseuaa-cut-to-sell-at-deutsche-bank-ag-updated-updated-updated.html.
A number of hedge funds and other institutional investors have recently modified their holdings of UAA. Baillie Gifford & Co. bought a new position in shares of Under Armour during the second quarter worth about $532,573,000. Vanguard Group Inc. bought a new position in shares of Under Armour during the second quarter worth about $393,172,000. BlackRock Inc. bought a new position in shares of Under Armour during the second quarter worth about $238,861,000. State Street Corp bought a new position in shares of Under Armour during the second quarter worth about $157,325,000. Finally, Bamco Inc. NY bought a new position in shares of Under Armour during the second quarter worth about $151,334,000. 29.59% of the stock is owned by institutional investors.
About Under Armour
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 segments include North America, consisting of the United States and Canada; Europe, the Middle East and Africa (EMEA); Asia-Pacific; Latin America, and Connected Fitness.
Receive News & Ratings for Under Armour Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Under Armour Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
