Needham & Company LLC Reaffirms Hold Rating for Under Armour (NYSE:UAA)

Under Armour (NYSE:UAA)‘s stock had its “hold” rating restated by research analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports.

Several other research analysts have also recently weighed in on UAA. Robert W. Baird upped their price objective on shares of Under Armour from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Barclays lifted their price objective on shares of Under Armour from $8.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Telsey Advisory Group reiterated a “market perform” rating and issued a $8.00 target price on shares of Under Armour in a research report on Monday, November 4th. Argus upgraded Under Armour to a “strong-buy” rating in a research report on Thursday, August 15th. Finally, UBS Group lifted their price target on Under Armour from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Under Armour presently has a consensus rating of “Hold” and an average target price of $9.34.

Under Armour Stock Down 8.1 %

Shares of NYSE UAA opened at $8.81 on Friday. The stock’s 50-day simple moving average is $9.34 and its two-hundred day simple moving average is $8.05. Under Armour has a twelve month low of $6.17 and a twelve month high of $11.89. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.24 and a current ratio of 2.18.

Insider Buying and Selling

In related news, CFO David Bergman sold 30,000 shares of Under Armour stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $9.09, for a total value of $272,700.00. Following the sale, the chief financial officer now owns 494,210 shares in the company, valued at $4,492,368.90. The trade was a 5.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mehri Shadman sold 17,240 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $8.76, for a total transaction of $151,022.40. Following the transaction, the insider now directly owns 182,538 shares in the company, valued at approximately $1,599,032.88. The trade was a 8.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,879 shares of company stock valued at $508,642 over the last three months. 15.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Under Armour

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in Under Armour by 144,746.6% in the third quarter. FMR LLC now owns 9,659,823 shares of the company’s stock worth $86,069,000 after buying an additional 9,653,154 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Under Armour by 33,725.1% in the 3rd quarter. Pacer Advisors Inc. now owns 9,598,890 shares of the company’s stock worth $85,526,000 after acquiring an additional 9,570,512 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Under Armour by 12.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,351,829 shares of the company’s stock worth $62,376,000 after acquiring an additional 1,051,143 shares in the last quarter. Quantinno Capital Management LP lifted its stake in shares of Under Armour by 195.8% in the 3rd quarter. Quantinno Capital Management LP now owns 903,257 shares of the company’s stock valued at $8,048,000 after purchasing an additional 597,943 shares during the period. Finally, Disciplined Growth Investors Inc. MN boosted its position in shares of Under Armour by 6.1% during the third quarter. Disciplined Growth Investors Inc. MN now owns 5,740,622 shares of the company’s stock valued at $51,149,000 after purchasing an additional 327,979 shares in the last quarter. 34.58% of the stock is owned by hedge funds and other 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.