Why Under Armour Stock Popped After Earnings -- Again
Three months ago, sportswear maker Under Armour (UA) outperformed expectations with a surprise fourth-quarter profit, and promised to keep the hits coming in fiscal 2021, delivering "high-single-digit percentage" sales growth, better gross profit margins on those sales, and positive operating income to boot (net income would still be negative, however). As a result, analysts are upgrading their ratings on Under Armour shares, and investors are bidding the stock higher -- up 9.1% as of 1 p.m. EDT. At last count, TheFly.com had tallied no fewer than three separate upgrades in response to Under Armour's Q1 2021 news.
