why Under Armour Inc. [UA] is a Good Choice for Investors After New Price Target of $13.00

Under Armour Inc. [NYSE: UA] traded at a low on 09/06/23, posting a -2.31 loss after which it closed the day’ session at $6.77. The company report on August 8, 2023 at 6:55 AM that UNDER ARMOUR REPORTS FIRST QUARTER FISCAL 2024 RESULTS; MAINTAINS FISCAL 2024 OUTLOOK.

Under Armour, Inc. (NYSE: UA, UAA) today announced unaudited financial results for its first quarter fiscal 2024 ended June 30, 2023. The company reports its financial performance following accounting principles generally accepted in the United States of America (“GAAP”). This press release refers to “currency neutral” amounts, which are non-GAAP financial measures described below under the “Non-GAAP Financial Information” paragraph.

Top 5 EV Tech Stocks to Buy for 2023

The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".

Click Here to Download the FREE Report.


“We’re pleased with how we have navigated our start to fiscal 2024,” said Under Armour President and CEO Stephanie Linnartz. “Our international and direct-to-consumer businesses, both of which realized solid growth in the quarter, continue to deliver aside a challenging consumer retail environment in North America. Based on this performance, we are maintaining our outlook for fiscal 2024.”.

The results of the trading session contributed to over 3452965 shares changing hands. Over the past one week, the price volatility of Under Armour Inc. stands at 2.65% while the volatility over the past one month is 3.13%.

The market cap for UA stock reached $3.18 billion, with 222.18 million shares outstanding and 149.54 million shares in the current float. Compared to the average trading volume of 3.06M shares, UA reached a trading volume of 3452965 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Under Armour Inc. [UA]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for UA shares is $13.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on UA stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Instinet have made an estimate for Under Armour Inc. shares, keeping their opinion on the stock as Reduce, with their previous recommendation back on February 27, 2017.

The Average True Range (ATR) for Under Armour Inc. is set at 0.23, with the Price to Sales ratio for UA stock in the period of the last 12 months amounting to 0.54. The Price to Book ratio for the last quarter was 1.50.

How has UA stock performed recently?

Under Armour Inc. [UA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.45. With this latest performance, UA shares dropped by -4.11% in over the last four-week period, additionally sinking by -19.31% over the last 6 months – not to mention a drop of -8.64% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for UA stock in for the last two-week period is set at 44.69, with the RSI for the last a single of trading hit 43.75, and the three-weeks RSI is set at 45.53 for Under Armour Inc. [UA]. The present Moving Average for the last 50 days of trading for this stock 7.03, while it was recorded at 6.91 for the last single week of trading, and 8.04 for the last 200 days.

Earnings analysis for Under Armour Inc. [UA]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for UA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Under Armour Inc. go to 21.80%.

Insider trade positions for Under Armour Inc. [UA]

The top three institutional holders of UA stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in UA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in UA stock with ownership which is approximately 5.7381%.

Leave a Comment

Your email address will not be published. Required fields are marked *