ELECT 24 Top Ad

Analyst: Target Under Armour Stock in 2022

Call traders have been targeting the stock

Deputy Editor
Jan 4, 2022 at 12:56 PM
facebook X logo linkedin


Though apparel retailer Under Armour Inc (NYSE:UAA) has pulled back slightly from this morning's gains, it was still last seen up 2% to trade at $21.67, following a bull note from Baird. The firm upgraded UAA to "outperform" from "neutral," calling the equity a top investing idea for 2022. The analyst affirmed its $32 price target, citing the company's potential to benefit from a cyclical recovery in earnings.

There's still plenty of room for further upgrades amongst the brokerage bunch, which could lift Under Armour stock even higher on the charts. Of the 30 analysts in coverage, 15 still carry a "hold" or worse rating.

There's even more pessimism left to be unwound from short sellers. While short interest has taken a 22% haircut over the last month, the 11.78 million shares sold short still represent a healthy 6.3% of the stock's available float.

Elsewhere, options traders have targeted calls with enthusiasm over the last two weeks. This is according to UAA's 10-day call/put volume ratio of 22.35 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 95% of readings from the past 12 months. This indicates a much greater-than-usual appetite for calls of late. 

Now could be an ideal opportunity to weigh in on the stock's next move with options. This is per UAA's Schaeffer's Volatility Index (SVI) of 37%, which sits in the low 7th percentile of its 12-month range -- suggesting volatility expectations are unusually low right now.

On the charts, the equity is facing off with the 260-day moving average, a trendline that UAA traded below for the latter half of December. In addition, a ceiling seems to have formed at the $22 area. Year-over-year, Under Armour stock sports a 25% lead. 

 

Biden’s government just announced a new government "stimulus program"...

And it could hand you a payment for as much as $7,882 — each quarter.

See, it has to do with a recent 19-page memo from Biden’s office...

Directing the government to once again send a form of "stimulus payments" to the mailboxes of Americans during these difficult times.

Better still, you can collect these payouts every single quarter — for life...

Payments run as high as $7,882... And it only takes five minutes to sign up.

I call this the "Stimulus Stipends" program…

And Forbes recently declared that you can "retire rich" thanks to this program.

So if you want to start cashing in your quarterly payouts — courtesy of the U.S government...

Discover how to receive your FIRST "Stimulus Stipends" payment for up to $7,882 here. 
 (ad)
 

election 2024 report

                                                  AD                                                  
best AI trade you can make today…?
(it’s not MSFT, GOOGL, AMZN or AAPL)

                                                  AD                                                  

 
 

VOLATILITY SCORECARD

 


                                               AD                                                    
Crazy Opportunity!! Tiny AI Stock just $3
“This Type of AI Will Be Worth “Ten MSFTs.”

                                               AD                                                    

 
4 AI STOCKS TO BUY NOW
 

                                                  AD                                                  
best AI trade you can make today…?
(it’s not MSFT, GOOGL, AMZN or AAPL)

                                                  AD