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Shares of Under Armour, Inc. (UA - Snapshot Report) surged to attain a new 52-week high of $74.45 on Aug 12, 2013, before closing at $73.93, gaining momentum from the phenomenal second-quarter 2013 results. Year-to-date, this Zacks Rank #3 (Hold) stock has generated a return of roughly 53%.

Based on the current price, this apparel, footwear, and accessories retailer is 10% above the Zacks Consensus average analyst price target of $67.16. The company currently trades at a forward P/E of 51.07x, a substantial premium to the peer group average of 20.67x. Additionally, the company’s long-term estimated EPS growth rate is 20.9%.

Barring few hiccups, the stock has been on the rise, since Under Armour reported its results on Jul 25, 2013. The company posted quarterly earnings of 16 cents a share that surged 166.7% from the year-ago quarter, and surpassed the Zacks Consensus Estimate of 14 cents, thereby marking the 18th consecutive positive earnings surprise. The average beat for the last 18 quarters stands at 50.5%.

The company’s largest product category, Apparel, once again witnessed strong sales. In fact this is the 15th straight quarter in which the segment registered at least 20% growth. Apparel sales jumped 22.7%, and facilitated Under Armour to register 23% growth in its top line to $454.5 million.

Consequently, Under Armour raised its guidance for 2013. The company now expects net revenue in the range of $2.23 billion – $2.25 billion, up 22% – 23% year over year. Earlier, it forecasted 2013 revenue in the range of $2.21 billion – $2.23 billion, representing growth of 21% – 22%.

Apart from Time Warner, other stocks such as Archer Daniels Midland Company (ADM - Analyst Report), Skechers USA Inc. (SKX - Analyst Report) and Michael Kors Holdings Limited (KORS - Analyst Report) achieved new 52-week highs of $38.59, $29.05 and $72.54, respectively, on Aug 12, 2013.

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