Under Armour Inc (UA) Shares Surge After Earnings

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Shares of Under Armour Inc (NYSE:UA) are trading up significantly following the company’s fourth quarter earnings report earlier this morning. While the stock has tumbled since the start of 2016, close to 15%, much of those losses have been recovered this morning alone.

Under Armour Inc (NYSE:UA) reported an earnings per share for the quarter of $0.48 on $105.6 million in revenue, beating last year’s numbers for the same quarter of $0.40 per share on $87.7 million in revenue considerably.

Kevin Plank, Chairman and CEO of Under Armour, Inc., stated, “Our core business remains incredibly strong and our 31% net revenue growth in the fourth quarter is clear evidence of the continued expansion in the breadth and depth of our Brand. We delivered our 25th consecutive quarter of more than 20% net revenues growth in our largest product category of apparel. Moreover, we continued to diversify our product offering and geographic reach, driving significant market share gains in key strategic areas like basketball footwear, while better meeting the needs of the global athlete with investments in our global Brand House stores and e-commerce sites helping drive 70% growth in international. With our continued investments across people, systems, and digital, we are confident in our ability to build upon this tremendous momentum, reinforcing our belief that we are just getting started in becoming the next great global brand.” The stock is currently trading higher by 18.21% or $12.49 following the positive news, hitting $81.07 per share at the time of us publishing this article. About 863,227 shares traded hands. UA has declined 19.69% since June 23, 2015 and is downtrending. It has underperformed the S&P500 by 10.82%.

From a total of 17 analysts covering Under Armour (NYSE:UA) stock, 10 rate it a “Buy”, 1 a “Sell”, and 6 a “Hold”. This means that 59% of the ratings are positive. The highest target price is $131 while the lowest target price is $62.0. The mean of all analyst targets is $104.84 which is 29.32% above today’s ($81.07) stock price. Under Armour was the topic of 33 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Morgan Stanley downgraded shares on January 11 to a “Underweight” rating. Telsey Advisory Group maintained shares with a”Outperform” rating and a $111 target share price in their report from a September 17. Stifel Nicolaus maintained UA stock in a recent report from December 23 with a “Buy” rating. FBR Capital maintained the rating on September 17. FBR Capital has a “Outperform” rating and a $115 price target on shares. Finally, Piper Jaffray maintained the stock with a “Neutral” rating in a report they issued on a November 30.

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 $17.50 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 83.98 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.

#focuskw=’Under Armour Inc (NYSE:UA)’##metadesc=’Shares of Under Armour Inc (NYSE:UA) are trading up significantly following the company’s fourth quarter earnings report earlier this morning. While the stock has tumbled since the start of 2016, close to 15%, much of those losses have been recovered this morning alone.Under Armour Inc (NYSE:UA) reported an earnings per share for the quarter of $0.48 on $105.6 million in revenue, beating last year’s numbers for the same quarter of $0.40 per share on $87.7 million in revenue considerably. Kevin Plank, Chairman and CEO of Under Armour, Inc., stated, “Our core business remains incredibly strong and our 31% net revenue growth in the fourth quarter is clear evidence of the continued expansion in the breadth and depth of our Brand. We delivered our 25th consecutive quarter of more than 20% net revenues growth in our largest product category of apparel. Moreover, we continued to diversify our product offering and geographic reach, driving significant market share gains in key strategic areas like basketball footwear, while better meeting the needs of the global athlete with investments in our global Brand House stores and e-commerce sites helping drive 70% growth in international. With our continued investments across people, systems, and digital, we are confident in our ability to build upon this tremendous momentum, reinforcing our belief that we are just getting started in becoming the next great global brand.” ‘##metarobot=’index’##newskw=’Zafgen Inc positive news,Zafgen Inc – (NASDAQ:ZFGN),NASDAQ:ZFGN Analyst rating analysis,Stock Analysis,Outlook and potential,ZFGN Price change and trend,ZFGN stock update’##sitemap=’include’##skipsocial##stockticker=’NYSE:UA’#