11.15 +0.05 (0.45%)
After hours: 6:46PM EDT
|Bid||11.04 x 3200|
|Ask||11.15 x 800|
|Day's Range||10.97 - 11.59|
|52 Week Range||7.15 - 27.72|
|Beta (5Y Monthly)||0.60|
|PE Ratio (TTM)||44.76|
|Earnings Date||Jul 28, 2020 - Aug 03, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||9.90|
Shares of sporting goods and casual apparel maker Under Armour (NYSE: UA)(NYSE: UAA) fell hard in May. According to data from S&P Global Market Intelligence, Under Armour's Class A shares fell 16% and the Class C shares lost 15.2%. Under Armour's revenue fell 22% to $930 million. Under Armour expects to reduce its full-year operating expenses by $325 million through a variety of cost-saving initiatives.
The allure of penny stocks is that you can control a lot of shares for relatively little money, so that even small upward movements in the price can result in windfalls. Its recovery may be premature, as CEO Roy Harvey told analysts recently there was too much uncertainty to say we're on the edge of a recovery.
Shares of apparel retailers were rising fast in late-day trading on Wednesday, with Foot Locker (NYSE: FL) up 7%, Hanesbrands (NYSE: HBI) jumping nearly 11%, and Under Armour (NYSE: UA)(NYSE: UAA) almost 9% higher. While rivals like Walmart (NYSE: WMT) and Target (NYSE: TGT) were allowed to stay open because they also sold food, they continued selling apparel, sporting goods, and other merchandise that the specialty retailers were prohibited from remaining open and selling themselves. Athletic wear may be helping three apparel retailers soar today.
In this article we will check out the progression of hedge fund sentiment towards Under Armour Inc (NYSE:UA) and determine whether it is a good investment right now. We at Insider Monkey like to examine what billionaires and hedge funds think of a company before spending days of research on it. Given their 2 and […]
Retail is in a brutal spot right now.
A forced timeout stopped neither bulls nor bears from participating in sports apparel stocks. But for today's investors, is now a better time to buy or sell? Let's look at the current champs on Wall Street, and where each stands off and on the price chart before breaking out the pompoms.The novel coronavirus has devastated individuals, businesses and economies around the world. It's also hit our love of sports from every imaginable angle.For some, that's meant a closed gym. For others, Covid-19 has prevented going for a trail run or hike on public lands shuttered by the pandemic. And of course, individual and team sports from recreational endeavors and all the way to the big leagues have been disrupted for participants and spectators alikeInvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Red-Hot Vaccine Stocks Racing to Develop a Coronavirus Cure Yet, despite the near universal stoppage time and reduced load of sweaty clothes to wash and wear, many sports apparel stocks have been on an inexplicable tear. Others, more logically so, haven't: * Nike (NYSE:NKE) * Lululemon (NASDAQ:LULU) * Under Armour (NYSE:UAA)In the end champion stocks cheered on by today's investors, and those booed like the NY Jets, aren't future guarantees for bulls and bears that find themselves on the right side of action. The trend is your friend until it's not. And sometimes you'll find a hidden gem buried in the bargain bin. Sports Apparel Stocks to Trade: Nike (NKE) Source: Charts by TradingViewThe first of our sports apparel stocks to trade are shares of Nike. Right now the world's largest retail sports brand looks ready to grow even bigger based on the price chart, setting the stock as a clear "buy,"Technically, the sporting goods giant's shares have formed a 'V-like' bottom on the monthly chart. It's a type of base often seen as less durable than a bottom developed over the longer-term. But Nike's panic low was also a very well-supported (and successful) test of both its long-term uptrend and a pair of key Fibonacci levels. And there's more too.With a bullish stochastics crossover now signaling inside neutral territory and an earnings catalyst next Thursday, the consensus is that this apparel stock is well-positioned to breakout.For investors looking to play this apparel stock for upside, one favored options strategy to limit and reduce risk, as well as offer realistic but big-time profit potential is the July $105 / $110 bull call spread. Lululemon (LULU) Source: Charts by TradingViewThe next of our sports apparel stocks to trade is athleisure and yoga-centric powerhouse Lululemon. Similar to Nike shares, Lululemon is another name that's been championed by investors since the darkest hours of the coronavirus on Wall Street. Here though, bulls could be getting ahead of themselves.Earnings are due in roughly two weeks, but investors aren't waiting around for the quarterly release. Shares have already broken out to fresh all-time-highs. This apparel stock's 'V' bottom was also a technically well-supported one to cheer on initially. But Lululemon now looks too pricey to justify a purchase. * 7 Red-Hot Vaccine Stocks Racing to Develop a Coronavirus Cure Bottom-line, with the stock roughly 10% past the prior and pattern high and trading through the upper Bollinger Band, Wall Street's pom-poms could easily be replaced with profit-taking in front of or certainly following earnings. As much, Lululemon is a champion apparel stock that's best watched from the sidelines. Under Armour (UAA) Source: Charts by TradingViewUnder Armour is the last of today's sports apparel stocks on our radar. This underdog most recently crashed on the back of a massive quarterly loss, slumping revenues and forecast that has lacked any indication the company can rebound to the black anytime soon. In a nutshell, what had been a turnaround play prior to the coronavirus now finds that path looking even more difficult to navigate.That all sounds bad, but things also look really bad for Under Armour, on the price-chart. Technically, the stock began showing signs of failure within its comeback story ahead of Covid-19.The monthly chart showed an early warning as shares fell beneath channel support late last year. That price action was then compounded by the pandemic as the stock tumbled cleanly below its lifetime 76% retracement level. But I'm not bearish.With the Under Armour story looking so unfixable off and on the price chart, I can't help but be a fan of this apparel stock. Some of that optimism is helped by the lower-low divergence in shares relative to stochastics. A third month of price action outside the lower Bollinger Band also has our attention. Lastly and as we finish up May with a promising hammer bottom in hand and an imminent oversold and bullish crossover in tow, it could be time to suit up shortly as a bull.Disclosure: Investment accounts under Christopher Tyler's management does not own any securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * The Huge Story for 2020 & Beyond That You Aren't Hearing About * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * The 1 Stock All Retirees Must Own The post 3 Sports Apparel Stocks to Trade for Players and Spectators Alike appeared first on InvestorPlace.
In an update on its retail operations, Under Armour (NYSE: UA)(NYSE: UAA) said that as of Friday, it will have opened nearly 50% of its branded, company-owned stores in the U.S. It said it will continue to open its doors on a case-by-case basis, in line with rules and conditions set by public officials.
The coronavirus pandemic has smashed Under Armour's revenue. The company closed its 188 North American stores in April.
Shares of Under Armour Inc. rallied 2.8% in premarket trading Thursday, after the athletic gear company said it expects nearly half of its North America stores to be reopened by the end of this week. Some of the safety protocols the company is taking given the COVID-19 pandemic included reduced store hours to allow more time for cleaning, limited store occupancy, requiring employees and customers to wear face masks in stores, closing of fitting rooms and holding back returned items for 72 hours before returning them to the floor. The stock has tumbled 55.5% year to date through Wednesday, while rival Nike Inc.'s shares have slipped 1.4% and the S&P 500 has lost 6.0%.
Under Armour (NYSE: UA, UAA) today announced details for the phased reopening of its owned stores in North America. The company reopened its first U.S. stores to customers on May 15, and opened additional stores last week. By this Friday, Under Armour will have welcomed customers back to nearly 50% of its North America stores. In regular consultation with government and public health officials, the company will continue to reopen additional stores on a case-by-case basis.
What happened Shares of Under Armour (NYSE: UA) (NYSE: UAA) were gaining today for the second day in a row as the sportswear brand continued to climb on hopes for an economic recovery. Investors were also rotating out of high-priced growth stocks and into cheap cyclical stocks like Under Armour that have been hit hard by the pandemic.
Shares of Under Armour (NYSE: UAA) (NYSE: UAA), Hanesbrands (NYSE: HBI), and Capri Holdings (NYSE: CPRI) were among the big winners Tuesday as the broad market rallied on economic reopenings continuing and signs that more companies were entering the vaccine race. Apparel retailers have been hit hard by the COVID-19 pandemic as they were forced to close stores, being non-essential retailers.
The U.S. death toll from the coronavirus that causes COVID-19 edged closer to 100,000 on Friday, as the news emerged that the Centers for Disease Control and Prevention has been combining the results of two different types of tests for the illness in a move that has been sharply criticized by health experts.
Under Armour Inc. said Friday it has upsized and priced a $440 million offering of senior convertible notes that mature in 2024. The athletic apparel maker originally planned to raise $400 million in the deal. The notes are being sold in a private offering and priced at an interest rate of 1.5% a year. The notes can be settled in shares of class C common stock, cash or a combination of the two, at Under Armour's discretion. Proceeds will be used to cover the cost of capped call transaction that will minimize the dilutive impact of conversion, and to repay debt. Shares were up 0.8% premarket but have fallen 606% in the year to date, while the S&P 500 has fallen 9%.
Under Armour, Inc. (NYSE: UA, UAA) today announced that it has priced $440 million aggregate principal amount of its 1.50% convertible senior notes due 2024 (the "notes"), which represents an increase of $40 million from the offering size previously announced. The notes are being sold in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). Under Armour has also granted the initial purchasers of the notes an option to purchase, within a thirteen day period beginning on, and including, the first date on which the notes are issued, up to an additional $60 million aggregate principal amount of the notes. The sale of the notes is expected to close on May 27, 2020, subject to customary closing conditions.
In this episode of Industry Focus: Financials, host Jason Moser and Fool.com contributor Matt Frankel, CFP, take an in-depth look at the company and what investors need to know. Plus, hear Jason and Matt discuss why they're keeping an eye on Goldman Sachs (NYSE: GS) and Intuit (NASDAQ: INTU). To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center.
The global case tally for the coronavirus that causes COVID-19 passed 5 million on Thursday after the biggest one-day increase since the start of the outbreak, as a top U.S. scientist cautioned that people should not rely on a vaccine and the labor market continued to show massive job losses.
The paper will be offered to qualified institutional buyers, and those investors will have an option to purchase up to $60 million more in aggregate. Analyst Mike Zuccaro commented, "Widespread temporary store closures and weaker discretionary consumer spending will result in significant incremental pressures on Under Armour's revenue, profitability and cash flow in 2020." Institutional investors that buy convertible notes often go short the underlying stock as part of a convertible arbitrage strategy, which may have contributed to selling pressure earlier in the session.
Moody's Investors Service, ("Moody's") today downgraded Under Armour, Inc.'s ("Under Armour") ratings, including its corporate family rating ("CFR") to Ba3 from Ba2, probability of default rating to Ba3-PD from Ba2-PD, and unsecured notes to B1 from Ba2. The company's SGL-2 speculative grade liquidity rating is unchanged. "Widespread temporary store closures and weaker discretionary consumer spending will result in significant incremental pressures on Under Armour's revenue, profitability and cash flow in 2020," stated Moody's apparel analyst, Mike Zuccaro.
Under Armour Inc. said Thursday it is offering $400 million of convertible senior notes that mature in 2024, joining the many companies that are raising money to bolster liquidity during the coronavirus pandemic. The sporting goods company said it will use proceeds of the deal to fund capped call transactions that will reduce dilution when the notes are converted into equity. It will use the remainder to pay down debt under a revolving credit facility. Shares fell 4% premarket and are down 61% in the year to date, while the S&P 500 has fallen 8%.
Under Armour, Inc. (NYSE: UA, UAA) today announced that it proposes to offer $400 million aggregate principal amount of its convertible senior notes due 2024 (the "notes"), subject to market conditions and other factors. The notes are to be offered in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). Under Armour also intends to grant to the initial purchasers of the notes an option to purchase, within a thirteen day period beginning on, and including, the first date on which the notes are issued, up to an additional $60 million aggregate principal amount of the notes.