Under Armour beats expectations with 33.9% revenue liftFriday, 27 January 2012
Under Armour´s quarterly revenue climbed up to $403.1 million, higher than the 23 analysts polled by S&P Capital IQ´s forecast of $402.8 million. In a week plenty of corporate news, Under Armour has not let down anyone, as its sales were 34% higher than the prior-year quarter's USD301.2 million, company released on Thursday.
It is worthy highlighting that analysts at Telsey Advisory Group initiated coverage on shares of Under Armour in a research note to investors on Monday. They set a $91.00 price target on the stock, while their peers at Goldman Sachs reiterated a “buy” rating on shares of Under Armour in a research note to investors also issued on Monday. Finally, analysts at Auriga cut their price target on shares of Under Armour to $70.00 and now have a “hold” rating on the stock.
Under Armour, that opened at 77.49 on Thursday, has a 52-week low of $52.62 and a 52-week high of $87.40. The company has a market cap of $4.007 billion and a price-to-earnings ratio of 46.29.
Elsewhere, in Japan, Fast Retailing Co. increased 50 yen to 14,970 yen, while stocks in Tokyo trading traded lower as commodities prices gained and a weaker than expected earnings from Fanuc dragged industrial stocks lower, Ticker reported.
Finally, True Religion Apparel, Inc. – which started trading Thursday up by over 60% - announced that the company will release its financial results for the fourth quarter and year ended December 31, 2011, after the market close on Thursday, February 9, 2012.