Under Armour (UA) Receives a Hold from Guggenheim


Guggenheim analyst Robert Drbul maintained a Hold rating on Under Armour (UA) today. The company’s shares opened today at $20.39.

Drbul wrote:

“We now expect +MSD% growth in footwear (+6%) and apparel (+4%) in ’19, resulting in total revenue growth of ~4%. UAA is focused on managing the business for sustainable L-T profit, while elevating the innovation agenda further. Wholesale rose 5% and DTC (27% of total revenue) was down 6%. Wholesale growth was led by Int’l, with slight growth in NA. DTC was impacted by lower YoY promotional activity and softer demand/impacts from the shift towards more premium price points. DTC was also up against its toughest compare (+17% growth in 1Q18) and compares begin to ease in 2Q (DTC was ~flat YoY in 2H18 vs. +LDD% in 1H18). In 2019, UAA believes it is well positioned to drive MSD% DTC growth in ’19, with digital efforts and Int’l retail store expansion. Int’l remained solid, up at a HT% rate in CC.”

According to TipRanks.com, Drbul is a 5-star analyst with an average return of 11.6% and a 70.4% success rate. Drbul covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Capri Holdings Limited, and Ascena Retail Group.

Currently, the analyst consensus on Under Armour is a Hold with an average price target of $21.46, implying a 5.2% 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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The company has a one-year high of $23.28 and a one-year low of $15.05. Currently, Under Armour has an average volume of 2.3M.

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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.

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