Under Armour Inc (UA) Appoints Chip Molloy as Their New CFO

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Today Under Armour Inc (NYSE:UA) announced that they have hired a new Chief Financial Officer in Chip Molloy. Molloy, who had previously been the CFO and an Executive VP at Petsmart, has significant financial executive experience, according to an Under Armor press release. Molloy will step in to his new position on January 19th and will work closely with the company’s current CFO Brad Dickerson to ensure a smooth transition.

“Under Armour is a growth company with a dynamic senior leadership team, and we are excited for Chip Molloy to help drive the business on the road to $7.5 billion in revenue by 2018,” said Kevin Plank, Chairman and CEO, Under Armour. “Chip’s success and experience as a public company CFO, his financial expertise and his outstanding leadership qualities will be an invaluable addition to the team.”

In unrelated news, sares of Under Armour Inc (NYSE:UA) are trading up 1.69% in the after hours, following a solid earnings report by Nike. The stock decreased 0.77% or $0.62 during the last trading session, hitting $80.35. About 5.78M shares traded hands or 70.50% up from the average. UA has risen 3.04% since May 19, 2015 and is uptrending. It has outperformed the S&P500 by 5.31%.

From a total of 14 analysts covering Under Armour (NYSE:UA) stock, 8 rate it a “Buy”, 0 a “Sell”, and 6 a “Hold”. This means that 57% of the ratings are positive. The highest target price is $131 while the lowest target price is $87. The mean of all analyst targets is $109.62 which is 36.43% above today’s ($80.35) stock price. Under Armour was the topic of 28 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Piper Jaffray maintained shares on November 30 with a “Neutral” rating. Atlantic Securities initiated shares with a”Overweight” rating and a $120 target share price in their report from an August 12. FBR Capital maintained UA stock in a recent report from September 17 with a “Outperform” rating. Vetr upgraded the rating on August 7. Vetr has a “Hold” rating and a $104.32 price target on shares. Finally, Telsey Advisory Group maintained the stock with a “Outperform” rating in a report they issued on a September 17.

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 has a market cap of $17.49 billion. The Company’s moisture-wicking fabrications are engineered in a range of creates and styles for wear in nearly every climate to provide an alternative to traditional products. It has 83.23 P/E ratio. The Company’s operating divisions include North America, consisting of the United States and Canada; Europe, the Middle East and Africa ; Asia-Pacific; Latin America, and MapMyFitness.

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