Piper Jaffray Cuts Numbers on UnderArmour (UA) Amid Apparel Rise
Get Alerts UA Hot Sheet
Rating Summary:
14 Buy, 24 Hold, 5 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
Join SI Premium – FREE
Piper Jaffray analyst, Erinn Murphy reduced her PT on Under Armour, Inc. (NYSE: UA) after inventory rose in footwear and apparel which will likely lead to price promotions in the coming weeks. Consequently, she is reducing Q4 EPS from $0.46 to $0.44 and cutting the PT to $88 from $97 by reducing her multiple from 60x to 55x. The analyst maintained a Neutral rating.
During the Thanksgiving weekend, UA remained promotional--not only in apparel but also within footwear. To wit, on Dick's Sporting Goods (as illustrated online), they offered $15 off select athletic footwear brands as a doorbuster promo and sustained this throughout the weekend. In addition, we consistently saw Armour Baselayer 25% off (new Y/Y) and Logo Hoodies 25% off (consistent Y/Y). In addition, over the weekend we saw 25% off Fleece Pants, Thermals & Waffle shirts, and 1/4 Zips.
For an analyst ratings summary and ratings history on Under Armour, Inc. click here. For more ratings news on Under Armour, Inc. click here.
Shares of Under Armour, Inc. closed at $89.68 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Safran SA (SAF:FP) (SAFRY) PT Raised to EUR211 at Citi, 'remain positive on the aftermarket'
- 29Metals Ltd (29M:AU) PT Lowered to AUD0.50 at RBC Capital
- Cintas (CTAS) PT Raised to $725 at RBC Capital
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst PT ChangeRelated Entities
Piper Jaffray, Erinn MurphySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!