Janney Montgomery Scott Maintains a 'Neutral' on Under Armour, Inc. (UA); Surprise! Janet Fox Resigning
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Price: $5.10 -2.86%
Rating Summary:
14 Buy, 24 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
Rating Summary:
14 Buy, 24 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
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Janney Montgomery Scott maintains a 'Neutral' on Under Armour, Inc. (NYSE: UA) price target of $54.00.
Analyst, Eric Tracy, said, "Last night, Under Armour announced the departure of Janet Fox, Senior Vice President of Sourcing. Ms. Fox reported to Jim Hardy, Chief Supply Chain Officer...This comes as a surprise to us, and should be to the Street as well. Ms. Fox was essentially the face of the sourcing strategy the company was executing since she joined the company roughly a year and a half ago. While trying not to speculate, we believe the decision may have been more organizational in nature, as opposed to Ms. Fox questioning the opportunities for UA within the sourcing/supply chain, which she conveyed very bullishly to us when we met just a few weeks ago. We also met with Mr. Hardy during our Under Armour HQ visit in July (his first exposure to investors) and walked away very impressed with his vision/strategy for enhancing the UA supply chain."
Shares currently trade at a premium and deserve to, but would look to add/buy share on a market pullback.
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 $56.42 yesterday.
Analyst, Eric Tracy, said, "Last night, Under Armour announced the departure of Janet Fox, Senior Vice President of Sourcing. Ms. Fox reported to Jim Hardy, Chief Supply Chain Officer...This comes as a surprise to us, and should be to the Street as well. Ms. Fox was essentially the face of the sourcing strategy the company was executing since she joined the company roughly a year and a half ago. While trying not to speculate, we believe the decision may have been more organizational in nature, as opposed to Ms. Fox questioning the opportunities for UA within the sourcing/supply chain, which she conveyed very bullishly to us when we met just a few weeks ago. We also met with Mr. Hardy during our Under Armour HQ visit in July (his first exposure to investors) and walked away very impressed with his vision/strategy for enhancing the UA supply chain."
Shares currently trade at a premium and deserve to, but would look to add/buy share on a market pullback.
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 $56.42 yesterday.
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