In a report released yesterday, Matthew McClintock from Raymond James upgraded Under Armour (UAA) to Buy, with a price target of $20.00. The company’s shares closed last Thursday at $14.18.
According to TipRanks.com, McClintock is a 5-star analyst with an average return of 10.9% and a 61.7% success rate. McClintock covers the Consumer Goods sector, focusing on stocks such as Floor & Decor Holdings, Dick’s Sporting Goods, and Lululemon Athletica.
The word on The Street in general, suggests a Hold analyst consensus rating for Under Armour with a $11.73 average price target.
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Based on Under Armour’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $708 million and GAAP net loss of $183 million. In comparison, last year the company earned revenue of $1.19 billion and had a GAAP net loss of $17.35 million.
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Under Armour develops, markets, and distributes athletic apparel, footwear, and accessories in North America and other territories. Consumers of its apparel include professional and amateur athletes, sponsored college and professional teams, and people with active lifestyles. The company sells merchandise through wholesale and direct-to-consumer channels, including e-commerce and nearly 400 total factory house and brand house stores. Under Armour also operates digital fitness apps with more than 200 million users. The Baltimore-based company was founded in 1996.
