UPDATE: UBS Downgrades Under Armour, Inc. (UA) to Neutral; Taking Some Off The Table
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Price: $63.56 -1.15%
Rating Summary:
11 Buy, 17 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
11 Buy, 17 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade UA Now!
(Updated - June 21, 2012 1:34 PM EDT)
UBS downgraded Under Armour, Inc. (NYSE: UA) from Buy to Neutral. PT $105 left unchanged.
Analyst, Michael Binetti, said, "UA shares are up +13% over the past month (+10pp of outperformance vs the apparel/footwear group). UA’s stock is trading at 41.5x our above-Consensus fwd 12-mo. EPS estimated—more than 1-standard deviation above the 5-yr avg P/E. We believe strong early spring trends have decelerated slightly—leaving less upside to 2Q Street EPS estimates. We believe a strong stock run, high valuation, and signs of decelerating trends leave less stock upside in the NT."
However, Binetti does offer investors a simple risk to his downgrade...the potential for sales to RE-accelerate...with new clothing products for summer and fall hitting stores soon, gross margins may be up. But for now, he's sticking with his guns. Also, his FY13 EPS estimate is $3.14 (above street consensus of $3.01)
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 $105.18 yesterday, with a 52 week range of $52.62-$107.86.
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UBS downgraded Under Armour, Inc. (NYSE: UA) from Buy to Neutral. PT $105 left unchanged.
Analyst, Michael Binetti, said, "UA shares are up +13% over the past month (+10pp of outperformance vs the apparel/footwear group). UA’s stock is trading at 41.5x our above-Consensus fwd 12-mo. EPS estimated—more than 1-standard deviation above the 5-yr avg P/E. We believe strong early spring trends have decelerated slightly—leaving less upside to 2Q Street EPS estimates. We believe a strong stock run, high valuation, and signs of decelerating trends leave less stock upside in the NT."
However, Binetti does offer investors a simple risk to his downgrade...the potential for sales to RE-accelerate...with new clothing products for summer and fall hitting stores soon, gross margins may be up. But for now, he's sticking with his guns. Also, his FY13 EPS estimate is $3.14 (above street consensus of $3.01)
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 $105.18 yesterday, with a 52 week range of $52.62-$107.86.
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