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Pivotal Research Group upgrades Under Armour Inc. [UAA] to Buy and price target to $20



Pivotal Research Group took its Under Armour Inc. [UAA] rating to the equivalent of a Buy from a ‎Hold, ‎and the price target to $20 from $15, in a research note dated January 04, 2021. That figure ‎represents ‎around a 16.48% premium from where the company’s shares closed on Thursday. ‎Meanwhile, Argus had ‎raised its rating on UAA to “Buy” from the earlier “Hold”, in a research note ‎produced for clients ‎November 18, 2020. In addition, there was an upgrade from Wells Fargo on ‎November 17, 2020. The ‎rater changed UAA from “an Equal weight” to “an Overweight”.

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Is Under Armour Inc. [NYSE:UAA] a Good Buy ‎Right Now?

It should be noted that UAA ‎technical indicators for short, intermediate as well as ‎long term progress have placed an overall ‎average of 80% as Buy. The average signal changed from ‎‎100% Buy in the last week and compares with ‎‎100% Buy in the past month. Data from Under Armour ‎Inc.’s Trend Spotter indicated that the signals ‎were Rising. The stock current average is 4.6 million ‎shares in the past 20 days and the short term ‎average signal indicates a 50% Buy. In the last 50 days, ‎the average trading volume was 6.48 million ‎shares while the medium term average advocated for ‎‎100% Buy. The average long-term signal stands ‎at 100% Buy and the 100-day average volume stands at ‎‎6.65 million shares.‎‎

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UAA Price Performance

On Wall Street, Under Armour Inc. [NYSE:UAA] ‎finished Thursday’s ‎session down -1.60% at $17.17. The stock went up to $17.48 at the same session ‎while its lowest single ‎day price was $17.10. In the last five days, it saw a fall of about -1.09%, Under ‎Armour Inc. shares ‎dropped by almost -20.51% since the beginning of the year. However, the share ‎price has dropped to ‎as low as -21.81% below its one year high. On 01/03/20, the company shares ‎recorded $21.96, the ‎highest single-day price it has got to in the last 52-weeks and a 52-week low was ‎seen on 05/14/20, the ‎same year at $7.15. The company’s shares have declined by -21.17% in the past ‎year. The 50-day SMA ‎achieved is $16.05 while the 200-day SMA is $11.66. Volume gained to 3.21 ‎million from 1.98 million in ‎the previous session.‎‎

UAA Stock Support And Resistance ‎Levels

On the 24-hour scale, the immediate backing is ‎perceived around 17.02 level, and in case ‎of violation of this particular level, it will cause more drop to ‎‎16.87 level. On the upper level, 17.63 is still ‎the key resistance. The stock may increase to the ‎subsequent resistance at 17.40. The Relative ‎Strength Index (RSI) pinned on the 14-day chart is 54.40, ‎implying a neutral technical stance while the ‎MACD stands at -0.12, meaning price will decrease in the ‎next trading period. Percent R indicator ‎moved to 59.91%, implying low price movement. Stochastic %K ‎at 39.17% suggest selling the stock.‎‎‎

What is the short interest in Under Armour Inc.?

Short interest in the Under Armour ‎Inc. ‎stock has surged, increasing by 1.54 million shares to total 14.03 million shares on Dec 14, 2020. ‎The ‎interest had seen shares on Nov 12, 2020 stand at 15.57 million, data from Yahoo Finance shows. ‎The ‎decrease of -10.98% suggests the stock saw some decreased bullish sentiment. The stock’s days ‎to ‎cover (short ratio) moved to while the shorted shares account for just 8.66% of the overall float for ‎the ‎stock.‎‎

Under Armour Inc.’s Biggest Shareholders: Who Owns Under Armour Inc. ‎‎[UAA]?

Filings by ‎The Vanguard Group, Inc. showed that the firm now holds a total of 19,101,853 ‎shares or roughly ‎‎10.13% of the outstanding UAA shares. This means their shares have increased by ‎‎859,338 from the ‎‎19,101,853 the investor reportedly held in its prior 13-F filing. With the conclusion of ‎the purchase, ‎Adage Capital Management LP updated stake is worth $259,835,595. Details in the latest ‎‎13F filings ‎reveal that Credit Suisse Securities acquired their 537.28% stake valued at $198,135,990. ‎During the last ‎quarter, Credit Suisse Securities raised 10,081,186 of its shares in Under Armour Inc. ‎while AKO Capital ‎LLP bought 10,112,291 shares. The BlackRock Fund Advisors’s holdings currently ‎number 9,983,568 ‎shares at $171417862.56. According to the firm’s last 13F report, SSgA Funds ‎Management, Inc. shares ‎in the company at filing stood at 8,176,761 shares, roughly $135,488,930.‎‎‎

UAA Earnings Forecast For The Current Quarter

Under Armour Inc. [UAA] is expected ‎to ‎report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give ‎the ‎company expected revenues of $1.26B and an earnings per share of -$0.07 for Dec 2020. ‎Looking ‎further ahead, the company is expected to report revenue of $1.1B at an EPS of -$0.05 for Mar ‎‎2021. ‎The estimates represent downside of 12.50% and 127.70% in the company’s revenue and ‎earnings per ‎share, respectively, on a year-on-year basis.‎‎

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UAA Earnings Estimates For The Current ‎Year

For the ‎financial year, Under Armour Inc. [NYSE:UAA] is expected to bring in revenue of ‎‎$4.32B. The returns ‎are nearly $-950.0 million lower than the company’s actual revenue recorded in the ‎fiscal year 2019. In ‎terms of EPS for the 2020, estimate put it at -0.47, lower than that of FY19 by -$0.81. ‎Estimates put this ‎year’s earnings growth at -238.20%, 127.70% for the next, and at an annual -4.50% ‎over the next 5-year ‎period. As for sales, forecasts are for a decrease of -18.00% in the current fiscal ‎year and a further ‎‎12.50% over the following year.‎

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