In a report released today, Brian Nagel from Oppenheimer maintained a Hold rating on Under Armour (UA). The company’s shares opened today at $21.22.
Nagel wrote:
“Early today, Perform-rated Under Armour (UAA) reported Q1 (Mar.) results and updated 2019 guidance. Better-than-plan sales in Q1 (Mar.) coupled with tighter expense controls fueled the outperformance in the quarter. As we closely examine results, we are encouraged by indications of stabilization as the company executes on its plan to return the Under Armour brand to a premium position in the market. We are studying UAA closely. At this point we continue to recommend Nike (NKE) and lululemon (LULU) as top picks in the athletic space.”
According to TipRanks.com, Nagel is a 5-star analyst with an average return of 9.3% and a 65.7% success rate. Nagel covers the Services sector, focusing on stocks such as Weight Watchers International, Capri Holdings Limited, and Dick’s Sporting Goods.
Under Armour has an analyst consensus of Hold, with a price target consensus of $21.31, a 0.4% upside from current levels. In a report issued on April 30, Pivotal Research also reiterated a Hold rating on the stock with a $23 price target.
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Based on Under Armour’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $4.22 million. In comparison, last year the company had a GAAP net loss of $30.24 million.
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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 segments: North America, EMEA, Asia-Pacific, Latin America, and Connected Fitness. The North America segment comprises of U.S. and Canada.
