JPMorgan Chase & Co. Upgrades Under Armour (UA) to Overweight

Under Armour (NYSE:UA) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Friday, MarketBeat.com reports. The brokerage currently has a $29.00 price objective on the stock, up from their prior price objective of $23.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 40.10% from the company’s current price.

Other research analysts have also issued reports about the stock. ValuEngine raised shares of Under Armour from a “hold” rating to a “buy” rating in a research note on Saturday, January 19th. Pivotal Research reissued a “hold” rating and set a $23.00 target price on shares of Under Armour in a research note on Tuesday, April 30th. B. Riley set a $12.00 target price on shares of Under Armour and gave the stock a “sell” rating in a research note on Tuesday, February 5th. Finally, Canaccord Genuity set a $13.00 target price on shares of Under Armour and gave the stock a “sell” rating in a research note on Tuesday, March 19th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $20.50.

Shares of NYSE UA opened at $20.70 on Friday. The firm has a market cap of $8.69 billion, a P/E ratio of 76.67 and a beta of 1.00. Under Armour has a 12-month low of $15.05 and a 12-month high of $23.28. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.22 and a current ratio of 2.02.

Under Armour (NYSE:UA) last issued its earnings results on Thursday, May 2nd. The company reported $0.05 earnings per share (EPS) for the quarter. The business had revenue of $1.20 billion for the quarter. Under Armour had a net margin of 0.12% and a return on equity of 7.05%. Equities research analysts predict that Under Armour will post 0.35 earnings per share for the current fiscal year.

In other Under Armour news, insider Paul Fipps sold 23,247 shares of the firm’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $19.49, for a total value of $453,084.03. Following the transaction, the insider now directly owns 362,784 shares of the company’s stock, valued at $7,070,660.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 15.90% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Focused Wealth Management Inc lifted its stake in shares of Under Armour by 495.7% in the fourth quarter. Focused Wealth Management Inc now owns 1,551 shares of the company’s stock valued at $25,000 after buying an additional 1,943 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of Under Armour in the first quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Under Armour by 54.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,935 shares of the company’s stock valued at $31,000 after buying an additional 679 shares in the last quarter. Enlightenment Research LLC bought a new position in shares of Under Armour in the fourth quarter valued at $34,000. Finally, Rehmann Capital Advisory Group lifted its stake in shares of Under Armour by 152.7% in the fourth quarter. Rehmann Capital Advisory Group now owns 2,188 shares of the company’s stock valued at $37,000 after buying an additional 1,322 shares in the last quarter. 32.22% of the stock is currently owned by hedge funds and other institutional investors.

About Under Armour

Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes branded performance apparel, footwear, and accessories for men, women, and youth primarily in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. The company offers its apparel in compression, fitted, and loose types to be worn in hot and cold.

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Analyst Recommendations for Under Armour (NYSE:UA)

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