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Under Armour Inc A UAA Stock Quote

| Rating as of

NYSE:UAA

Morningstar‘s Stock Analysis UAA

Valuation
Currency in USD
Is it the right time to buy or sell?
Is it the right time to buy or sell?

1-Star Price

INVESTOR

5-Star Price

INVESTOR

Economic Moat

INVESTOR

Capital Allocation

INVESTOR

No-Moat Under Armour Managing Through a Tough Environment; Shares Very Attractive

David Swartz Equity Analyst

Analyst Note

| David Swartz |

Despite weakening market conditions, Under Armour’s fiscal 2023 second-quarter results were in line with our forecast and its guidance in August. Moreover, while it lowered its outlook for the second half of the year, the revision was minor and less than feared, leading investors to bid up its shares by more than 10%. Based on the results and outlook, we do not expect to make any material change to our $15.70 fair value estimate and continue to view Under Armour as very undervalued. While we view it as a no-moat firm, we think it does benefit from the growth of activewear and wide-moat Nike’s pullback in distribution, especially in footwear. Moreover, Under Armour has a solid balance sheet, closing the quarter with $180 million in net cash after essentially breaking even on operating cash flow in the first half.

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Key Statistics UAA

Company Profile UAA

Business Description

Under Armour develops, markets, and distributes athletic apparel, footwear, and accessories in North America and other territories. Consumers of its apparel include professional and amateur athletes, sponsored college and professional teams, and people with active lifestyles. The company sells merchandise through direct-to-consumer, including e-commerce and more than 400 combined factory house and brand house stores, and wholesale channels. Under Armour also operates a digital fitness app called MapMyFitness. The Baltimore-based company was founded in 1996.

Contact
1020 Hull Street
Baltimore, MD, 21230
T +1 410 454-6428
Industry Apparel Manufacturing
Most Recent Earnings Sep 30, 2022
Fiscal Year End Mar 31, 2023
Employees 17,500

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