Market Overview

My goal is to be on stage with my computer and let you
see my screen and make sure you know what buttons to
press, where you’re getting in & out, how to calculate
risk, your targets — all of those things.
It’s real-life trading. Make sure you sign up!
- Jerremy Newsome
GET TICKETS

Under Armour's CFO Swap Isn't Making Piper Jaffray Buy In...Yet

Share:
Under Armour's CFO Swap Isn't Making Piper Jaffray Buy In...Yet
  • Under Armour Inc (NYSE: UA) shares have appreciated 18.38 percent year-to-date, rising close to their 52-week high on September 17 at $104.10.
  • Piper Jaffray's Erinn E. Murphy has reiterated a Neutral rating on the company, with a price target of $88.
  • The company has announced that the former CFO of PetSmart, Inc. (NASDAQ: PETM) would be Under Armor's next CFO, effective January 19, 2016.

According to the Piper Jaffray report, “Management believes he is a good cultural fit and has a solid background as a public-company CFO in the consumer space.” There will be about a month of overlap between the new CFO joining and the current CFO Brad Dickerson leaving.

Related Link: Taking A Closer Look At Under Armour's New CFO

Analyst Erinn Murphy believes that Mr. Molloy would be good fit, given that he has “an athletic aptitude and was a Navy fighter pilot for 10 years.”

Although the announcement of the new CFO lays one concern to rest, the current trends still appear to be sluggish, partly driven by the warm weather and partly due to higher inventory in the channel.

In addition, although Mr. Molloy has a strong resume and experience as the CFO of a public company, Murphy pointed out that “he does not have apparel or footwear expertise nor does he have meaningful experience with high-growth names.”

Apart from the transition of the CFO, Murphy expects to see a few more departures at the higher level and inter-company reassignments at Under Armor.

Latest Ratings for UA

DateFirmActionFromTo
May 2019UpgradesNeutralOverweight
Feb 2018MaintainsNeutralNeutral
Jan 2017Initiates Coverage OnBuy

View More Analyst Ratings for UA
View the Latest Analyst Ratings

Posted-In: Erinn E. Murphy Piper JaffrayAnalyst Color Reiteration Analyst Ratings Best of Benzinga

 

Related Articles (PETM + UA)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
NUEMaintains61.0
MMCMaintains105.0
BTIDowngrades
DGMaintains142.0
MDLZMaintains52.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

An Award-Winning Debut For This Goldman ETF

Private Equity Firm KKR Eyes Entry To Oil & Gas Segment