Norges Bank Makes New Investment in Under Armour, Inc. (NYSE:UAA)

Norges Bank acquired a new stake in shares of Under Armour, Inc. (NYSE:UAA) in the fourth quarter, Holdings Channel.com reports. The fund acquired 1,346,773 shares of the company’s stock, valued at approximately $11,151,000.

Other large investors have also modified their holdings of the company. Rockefeller Capital Management L.P. lifted its holdings in shares of Under Armour by 8.9% during the third quarter. Rockefeller Capital Management L.P. now owns 115,447 shares of the company’s stock valued at $1,029,000 after purchasing an additional 9,439 shares during the last quarter. Stifel Financial Corp raised its holdings in Under Armour by 85.6% during the 3rd quarter. Stifel Financial Corp now owns 66,671 shares of the company’s stock worth $594,000 after buying an additional 30,755 shares during the period. National Bank of Canada FI lifted its stake in Under Armour by 9.4% during the third quarter. National Bank of Canada FI now owns 37,703 shares of the company’s stock valued at $336,000 after buying an additional 3,232 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of Under Armour by 15.3% in the third quarter. Orion Portfolio Solutions LLC now owns 59,237 shares of the company’s stock worth $528,000 after buying an additional 7,839 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Under Armour by 163.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,900 shares of the company’s stock worth $26,000 after acquiring an additional 1,800 shares in the last quarter. 34.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Morgan Stanley restated an “underweight” rating and issued a $4.00 price target on shares of Under Armour in a research report on Friday, December 13th. Argus cut Under Armour from a “buy” rating to a “hold” rating in a research report on Thursday, January 16th. TD Cowen lifted their price target on Under Armour from $10.00 to $11.00 and gave the company a “hold” rating in a report on Friday, December 13th. StockNews.com raised Under Armour from a “sell” rating to a “hold” rating in a research note on Thursday, March 20th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Under Armour in a research note on Friday, February 7th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $9.06.

Under Armour Stock Performance

UAA opened at $5.23 on Tuesday. The stock has a 50-day moving average of $6.99 and a 200-day moving average of $8.23. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.19 and a current ratio of 2.01. Under Armour, Inc. has a 52-week low of $4.82 and a 52-week high of $11.89. The company has a market cap of $2.25 billion, a PE ratio of -18.02 and a beta of 1.49.

Under Armour (NYSE:UAA) last announced its earnings results on Thursday, February 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. Under Armour had a positive return on equity of 11.03% and a negative net margin of 2.39%. During the same quarter in the previous year, the company earned $0.19 earnings per share. As a group, equities research analysts forecast that Under Armour, Inc. will post 0.3 earnings per share for the current fiscal year.

About Under Armour

Under Armour, Inc, together with its subsidiaries, engages developing, marketing, and distributing performance apparel, footwear, and accessories for men, women, and youth. The company provides its apparel in compression, fitted, and loose fit types. It also offers footwear products for running, training, basketball, cleated sports, recovery, and outdoor applications.