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Shares of Under Armour rose on Monday, ahead of their third-quarter earnings report, after an analyst said the athletic apparel and footwear company's sales are strong.
Shares rose $1.28, or 4.1 percent, to $32.79. The stock has traded between $11.94 and $33.29 over the past year.
Susquehanna analyst Christopher Svezia wrote in a note to investors that sales of the company's ColdGear products in particular, including fleece, outerwear and base layers, have been strong. He added that footwear has been weaker, however.
"We expect to see solid 2010 apparel growth while the company regroups its lower-margin footwear business," Svezia wrote.
He upgraded the company to "Neutral" from "Negative."
Under Armour, based in Baltimore, is scheduled to report third-quarter results on Tuesday.This morning, Susquehanna Capital upgraded shares of Under Armour (UA) to Neutral as the company is set to report earnings tomorrow. Channel checks have shown the company's apparel lines have performed well during the quarter and Susquehanna believes EPS for the third quarter will narrowly beat Wall Street estimates of forty four cents.
UA has been one of my long term picks that we have talked about alot the past few years here @ Mad Money Fund . This is a screaming buy, when the stock price was around 23.00 a share , now it is at 33.00 a share. i still say buy and hold for the long term you will 3x your money . buy before the earnings report on tuesday Oct.27 2009 . Buy,Buy,Buy !....
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Armour and the spots clothing business is booming.
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