Q3: Under Armour (UA) Seeks to Score a Strong Q3; Shares up 75% YTD
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Price: $5.24 +1.75%
Rating Summary:
14 Buy, 24 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
14 Buy, 24 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Shares of Under Armour Inc. (NYSE: UA) are up 55 cents to $47.62 in midday market movement on Monday, ahead of the company's third-quarter results scheduled to be released Tuesday before the opening bell.
The sports apparel maker is expected by analysts to report third-quarter earnings of 60 cents per share on sales of $322.24 million.
Under Armour reported second-quarter earnings of 7 cents per share, 4 cents better than the analyst estimate of 3 cents per share. Second-quarter revenue for the company was $204.8 million, compared to the Street's view of $189.94 million.
Since the start of the third quarter shares of Under Armour are up $10.18 or 27.20 percent. Year-to-date the stock has risen $20.33 or 74.55 percent.
A valuation shows that Under Armour is going for a froward P/E of 46.47x full-year 2010 estimates.
Data from Bloomberg shows that 6 analysts have a Buy rating on Under Armour, 15 have Hold and 4 have a Sell. The average analyst price target of $41 with a target range of $26 to $52.
Analyst comments
Wedbush analyst raised their third-quarter earnings estimate to 61 cents from a prior view of 58 cents due to what the firm sees as top line growth stemming from continued strength of apparel.
Wedbush analyst says, "Our checks suggest that UA’s planned increase in replenishment inventory has paid off in higher sell-through across various channels of distribution including sporting goods retailers such as DKS as well as mall based retailers such as FINL. Furthermore, the rapid growth of the DTC channel led by outlet store openings should also boost top line and gross margin."
Wedbush maintains a Neutral rating on Under Armour with a price target of $42.
Capstone Investments raised its price target on October 21 to $50 while reiterating a Buy rating on Under Armour.
The sports apparel maker is expected by analysts to report third-quarter earnings of 60 cents per share on sales of $322.24 million.
Under Armour reported second-quarter earnings of 7 cents per share, 4 cents better than the analyst estimate of 3 cents per share. Second-quarter revenue for the company was $204.8 million, compared to the Street's view of $189.94 million.
Since the start of the third quarter shares of Under Armour are up $10.18 or 27.20 percent. Year-to-date the stock has risen $20.33 or 74.55 percent.
A valuation shows that Under Armour is going for a froward P/E of 46.47x full-year 2010 estimates.
Data from Bloomberg shows that 6 analysts have a Buy rating on Under Armour, 15 have Hold and 4 have a Sell. The average analyst price target of $41 with a target range of $26 to $52.
Analyst comments
Wedbush analyst raised their third-quarter earnings estimate to 61 cents from a prior view of 58 cents due to what the firm sees as top line growth stemming from continued strength of apparel.
Wedbush analyst says, "Our checks suggest that UA’s planned increase in replenishment inventory has paid off in higher sell-through across various channels of distribution including sporting goods retailers such as DKS as well as mall based retailers such as FINL. Furthermore, the rapid growth of the DTC channel led by outlet store openings should also boost top line and gross margin."
Wedbush maintains a Neutral rating on Under Armour with a price target of $42.
Capstone Investments raised its price target on October 21 to $50 while reiterating a Buy rating on Under Armour.
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