Under Armour Inc (NYSE:UA, UA.C) announced that Jason LaRose has been named President, North America. He will succeed Matthew Mirchin, who will transition to the role of Strategic Advisor, Global Revenue, effective October 1.
Mr. Mirchin has been with the Company since 2005, serving in a number of senior management positions in sales and marketing. Mr. LaRose joined Under Armour in 2013 to lead its Global E-Commerce business, eventually becoming Senior Vice President of Digital Revenue in 2015. Both executives have been key contributors to Under Armour’s global success and will continue to work together to deliver a best-in-class consumer experience and strong results across its sales channels. During this transition period, Mr. LaRose will continue to lead the E-Commerce business, while being actively involved in the search process to identify his successor.
“I would like to thank Matt for his strong leadership, vision and many contributions including leading the sales and marketing organizations at Under Armour over the last 11 years,” said Kevin Plank, Founder and CEO of Under Armour. “During his time at the company, Matt has become one of our chief architects in building the Under Armour brand and telling our story around the world. I would also like to congratulate Jason on his new role, where he and Matt will continue to accelerate our footprint in North America.”
“Since joining Under Armour, Jason has been a rising star, establishing our E-commerce business globally,” saidCharlie Maurath, Chief Revenue Officer, Under Armour. “I am confident that he will continue to thrive as he transitions to lead our growth in the North American region with Matt by his side. I want to thank Matt for doing a tremendous job strengthening our relationships with key partners during his tenure at Under Armour.” (Original Source)
Shares of Under Armour are currently trading at $38.84, up $0.28 or 0.73%. UA has a 1-year high of $54.14 and a 1-year low of $32.34. The stock’s 50-day moving average is $40.41 and its 200-day moving average is $40.50.
On the ratings front, UA stock has been the subject of a number of recent research reports. In a report released today, Barclays analyst Matthew McClintock reiterated a Buy rating on UA, with a price target of $55, which represents a potential upside of 43% from where the stock is currently trading. Separately, on September 13, Nomura’s Simeon Siegel initiated coverage with a Hold rating on the stock and has a price target of $38.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Matthew McClintock and Simeon Siegel have a total average return of 6.6% and -4.9% respectively. McClintock has a success rate of 55% and is ranked #685 out of 4158 analysts, while Siegel has a success rate of 35.5% and is ranked #3639.
The street is mostly Bullish on UA stock. Out of 18 analysts who cover the stock, 9 suggest a Buy rating , 8 suggest a Hold and one recommends to Sell the stock. The 12-month average price target assigned to the stock is $47.75, which represents a potential upside of 24.1% from where the stock is currently trading.
Under Armour, Inc. engages in the development, marketing and distribution of branded performance apparel, footwear and accessories for men, women and youth. It operates through the following geographical segments: North America, Latin America, Europe, the Middle East, and Africa.