UAA - Under Armour: Turnaround In Sight
2024-02-09 10:54:47 ET
Summary
- Under Armour, Inc. reported improved profits despite weak sales in the apparel sector.
- The athletic apparel company, along with the sector, has successfully reduced inventory levels and plans for further improvement during 2024.
- Under Armour's collaboration with Celanese Corporation on a new sustainable fiber showcases its commitment to innovation.
- Under Armour stock trades at only 12.5x EPS targets with plenty of upside potential.
The apparel retail sector has been brutal over the last year, and the stock market was happy to see Under Armour, Inc. ( UA , UAA ) report improved fiscal Q3 profits . The sector is finally moving beyond the inventory glut issue setting up the athletic apparel maker to execute on long-term turnaround plans focused on innovation and return to premium products. My investment thesis remains ultra-bullish on the stock, which is trading far below $10....
Under Armour: Turnaround In Sight