Under Armour Continues To “Protect This House”
Last Tuesday, The Wall Street Journal ran a “Heard On The Street” column on the front page of its “Money & Investing” section making the argument that there was a good chance Under Armour (UA) would fall short of analysts revenue estimates when it reported 3rd quarter earnings this morning (“Room To Run For Under Armour? Maybe” (subscription required)).
Revenues were up 46% to $187 million – destroying analysts’ estimates for $170 million.
Under Armour’s shares are up $4.27, 7.27%, to $63 currently (2:30pm EST). That’s from a $13 IPO in November 2005.
With about 17% of its outstanding shares sold short, that’s a lot of pain for the bears.
That said, the shares are still extremely expensive at around 60 times this years likely earnings.