Under Armour Inc [NYSE: UA] stock went on a downward path that fall over -10.15% on Thursday, amounting to a one-week price decrease of less than -14.34%. The company report on March 13, 2024 at 4:30 PM that UNDER ARMOUR ANNOUNCES LEADERSHIP TRANSITION.
Kevin Plank to Become Chief Executive Officer; Mohamed A. El-Erian, Under Armour’s Lead Director, Named Chair of the Board.
Under Armour, Inc. (NYSE: UA, UAA) today announced that Kevin Plank will become President & Chief Executive Officer, effective April 1, 2024. Plank will succeed Stephanie Linnartz, who will be stepping down as President & Chief Executive Officer and member of the Board. In connection with Plank’s appointment, Dr. Mohamed A. El-Erian, an independent director since 2018 and Lead Director since 2020, will become the non-executive Chair of the Board. Plank, who will transition from Executive Chair of the Board, will remain a director. Linnartz will remain an advisor to the company through April 30, 2024.
Over the last 12 months, UA stock dropped by -5.16%. The one-year Under Armour Inc stock forecast points to a potential upside of 26.19. The average equity rating for UA stock is currently 2.43, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.04 billion, with 221.35 million shares outstanding and 145.82 million shares in the current float. Compared to the average trading volume of 3.29M shares, UA stock reached a trading volume of 16270556 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $9.47 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 2.43. 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 new note on the price target was released on February 14, 2017, representing the official price target for Under Armour Inc stock. Previously, the target price had yet another drop from $33 to $28, while Stifel kept a Hold rating on UA stock. On October 26, 2016, analysts decreased their price target for UA shares from 49 to 35.
The Average True Range (ATR) for Under Armour Inc is set at 0.30, with the Price to Sales ratio for UA stock in the period of the last 12 months amounting to 0.53. The Price to Book ratio for the last quarter was 1.40, with the Price to Cash per share for the same quarter was set at 2.43. Price to Free Cash Flow for UA in the course of the last twelve months was 12.90 with Quick ratio for the last quarter at 1.38.
UA Stock Performance Analysis:
Under Armour Inc [UA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.34. With this latest performance, UA shares dropped by -9.46% in over the last four-week period, additionally plugging by 5.59% over the last 6 months – not to mention a drop of -5.16% 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 27.69, with the RSI for the last a single of trading hit 16.96, and the three-weeks RSI is set at 34.78 for Under Armour Inc [UA]. The present Moving Average for the last 50 days of trading for this stock 7.79, while it was recorded at 7.71 for the last single week of trading, and 7.22 for the last 200 days.
Insight into Under Armour Inc Fundamentals:
Under Armour Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.38 and a Current Ratio set at 2.13.
UA Stock EPS
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%.
Under Armour Inc [UA] Institutonal Ownership Details
The top three institutional holders of UA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in UA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in UA stock with ownership which is approximately 5.8325%.
