Pivotal Research Sticks to Their Hold Rating for Under Armour (UA)

By Ryan Adsit

In a report released today, Mitch Kummetz from Pivotal Research reiterated a Hold rating on Under Armour (UAResearch Report), with a price target of $25. The company’s shares closed yesterday at $24.16, close to its 52-week high of $24.47.

Kummetz said:

“We have no reason to believe that UAA can’t get back to where it once was in the sense that UAA, in our view, has done nothing to preclude this from potentially happening. On the other hand, UAA is not competing in a vacuum, and, compared to a few years ago, we believe that adidas is a stronger competitor, as are smaller lifestyle-oriented players like Vans, Fila, Champion, etc. Trends come and go, which bodes well for UAA in the long run, but we see little evidence, at least right now, that trends are moving in a direction that favors UAA.”

According to TipRanks.com, Kummetz is a 3-star analyst with an average return of 2.8% and a 55.2% success rate. Kummetz covers the Services sector, focusing on stocks such as Foot Locker Inc, Shoe Carnival, and Genesco Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Under Armour with a $26.13 average price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $24.47 and a one-year low of $15.05. Currently, Under Armour has an average volume of 2.21M.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Under Armour, Inc. engages in the development, marketing, and distribution of branded performance apparel, footwear, and accessories for men, women, and youth. It operates through the following segments: North America, EMEA, Asia-Pacific, Latin America, and Connected Fitness. The North America segment comprises of U.S. and Canada.