Under Armour: Running Higher
Under Armour rallied following a big Q2 beat placing a lot of key metrics above 2019 levels. The athletic apparel company has pushed gross margins towards 50% with a focus on selling full priced performance gear. The stock is cheap trading at a forward EV/S multiple of 1.7x and far below the 4.6x multiple of Nike. This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More » Based on strong results from peers and a post-COVID rebound, Under Armour ( UA , UAA ) was forecast to report a massive quarter for the period ending June. In no real surprise, the athletic apparel firm smashed estimates and the stock is still surging. My investment thesis remains Bullish on the stock with substantial upside to obtain peer valuation multiples. Read the full article on Seeking Alpha. Disclosure: Long UA. Please review the disclaimer page for more details. Update - Nov. 2 Under Armo...