Under Armour Inc (NYSE:UA) certainly likes to innovate when it comes to athletic wear and accessories. Today that innovation is taken a step futher as the company shows off their latest project which was spawned by a partnership with JBL.
The latest project is responsible for new headphones which are able to monitor one’s heartrate while the user listens to music. A heartrate monitor is built into the headphones and the data is transmitted to a users smartphone or tablet within seconds via Bluetooth 4.0. While this new device is not yet available to consumers, Under Armour Inc (NYSE:UA) expects them to be released sometime this spring at a price tag of around $250.
The stock is currently trading higher by 0.55% or $0.44 following the positive news, hitting $80.06 per share at the time of us publishing this article. About 1,952 shares traded hands. UA has risen 1.32% since June 1, 2015 and is uptrending. It has outperformed the S&P500 by 4.33%.
From a total of 15 analysts covering Under Armour (NYSE:UA) stock, 9 rate it a “Buy”, 0 a “Sell”, and 6 a “Hold”. This means that 60% of the ratings are positive. The highest target price is $131 while the lowest target price is $86. The mean of all analyst targets is $107.52 which is 34.30% above today’s ($80.06) stock price. Under Armour was the topic of 31 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Stifel Nicolaus maintained shares on December 23 with a “Buy” rating. Telsey Advisory Group maintained shares with a”Outperform” rating and a $111 target share price in their report from a September 17. Piper Jaffray maintained UA stock in a recent report from November 30 with a “Neutral” rating. Atlantic Securities initiated the rating on August 12. Atlantic Securities has a “Overweight” rating and a $120 price target on shares. Finally, FBR Capital 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 $17.29 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 82.93 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.