Is Under Armour Stock a Buy?
As vaccines for COVID-19 get rolled out and a real economic recovery looks like it could happen soon, investor confidence is pushing up stock prices. But every company needs to be assessed on its own merits and potential. Under Armour (NYSE: UA)(NYSE: UAA) squandered building its lead in athletic wear and was struggling before the pandemic. But it survived, and is in place to restart momentum. Is now the right time to buy shares?
Under Armour sales declined drastically during lockdowns, falling 41% in the second quarter ended June 30. But the company managed its costs well and finished the quarter in a comfortable financial position.
Sales picked up in the third quarter ended Sep. 30, staying flat year over year. As usual, North American sales underperformed, declining 5%, but international sales increased 18%. The Europe and Middle East region was particularly strong, soaring 31%.
Source Fool.com
