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Under Armour moves up to 333rd largest company

Kevin Plank, CEO of Under Armour, makes his presentation at the shareholders meeting.
Kevin Plank, CEO of Under Armour, makes his presentation at the shareholders meeting. (Barbara Haddock Taylor, Baltimore Sun)

Under Armour has moved up in rank on the S&P 500, grabbing the number 333 spot from CareFusion Corp., Forbes reports.

Ranked by market capitalization, Under Armour now has a value of $11.77 billion, compared with the health care company's market cap of $11.53 billion.

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The Baltimore sports apparel maker will report third quarter financial results on Thursday. Wall Street analysts expect earnings to jump more than 17 percent to 40 cents per share and sales to top $925 million, a 28 percent gain.

Sterne Agee analyst Sam Poser, who rates the stock a buy, sees the company's growth as strong and broad based and is calling for annual growth of 20 percent to 25 percent for at least the next five years.

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"Under Armour is well on its way to becoming the solid #2 player in athletic apparel and footwear combined," Poser said in an earnings preview report Monday.

In the past four weeks, he said, sales have accelerated and are up 22 percent, thanks largely to the launch of the new Cold Gear EVO line of compression leggings and undergarments.

"While much attention is given to large white space available for UA internationally, we contend that growth prospects in the U.S. are quite attractive, stemming from channel growth as well as category growth," Poser said in the report.

That's because retailers such as Dick's Sporting Goods and Hibbet are opening more stores and putting in Under Armour shops within the stores, the report said.

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lorraine.mirabella@baltsun.com

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