Under Armour: Moving Beyond 2019 Levels

 

  • Under Armour smashed analyst estimates, producing revenues topping 2019 levels.
  • The company boosted gross margins by 370 basis points to 50.0%, providing substantial leverage to the bottom line.
  • The stock is cheap trading at 2x sales targets, far below peers.
  • This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More »
While Under Armour (UAAUA) reported a strong quarter that blew past analyst estimates, the stock is selling off despite the company smashing past 2019 numbers. The performance athletic apparel maker is in the midst of a massive turnaround, but the market isn't able to distinguish the rebound from Q1 shutdowns. My investment thesis remains more bullish on the stock long term.

Read the full article on Seeking Alpha. 


Disclosure: Long UA. Please review the disclaimer page for more details. 


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