On Thursday, shares of Under Armour (UAA - Free Report) closed the day up 1.67% after the athletic retailer signed top NBA draft prospect Josh Jackson to a sneaker deal. The 2017 NBA Draft takes place June 22 at 7:00 PM EST in New York’s Barclays Center.
Jackson played for the University of Kansas for just one season, during which he and the rest of the Jayhawks made it to the Elite 8 round of the NCAA tournament back in March.
“I am thrilled to officially be a part of team Under Armour as I start my professional career,” said Jackson in a statment. “Under Armour is a leading force in basketball today, and I’m excited to join Stephen Curry and the team at UA in growing it to the next level. UA knows how to get things done and, over time, has demonstrated passion, drive and a will to be better together. I can’t wait to get started.”
Welcome home, @J_Josh11! #IWILL pic.twitter.com/eDTZsneZOJ
— Under Armour (@UnderArmour) June 21, 2017
In addition to the Golden State Warriors’ Steph Curry, Jackson will be joining other basketball signees Emmanuel Mudiay, Brandon Jennings, and Greivis Vasquez.
Under Armour has a lot of faith in its footwear business, and believes it is a key growth driver for the company going forward. The company reported that footwear sales grew 50% last year to $1 billion.
UAA is a #3 (Hold) on the Zacks Rank, with a VGM Score of ‘F.’ Shares of Under Armour have declined about 32% year-to-date.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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On Thursday, shares of Under Armour (UAA - Free Report) closed the day up 1.67% after the athletic retailer signed top NBA draft prospect Josh Jackson to a sneaker deal. The 2017 NBA Draft takes place June 22 at 7:00 PM EST in New York’s Barclays Center.
Jackson played for the University of Kansas for just one season, during which he and the rest of the Jayhawks made it to the Elite 8 round of the NCAA tournament back in March.
“I am thrilled to officially be a part of team Under Armour as I start my professional career,” said Jackson in a statment. “Under Armour is a leading force in basketball today, and I’m excited to join Stephen Curry and the team at UA in growing it to the next level. UA knows how to get things done and, over time, has demonstrated passion, drive and a will to be better together. I can’t wait to get started.”
In addition to the Golden State Warriors’ Steph Curry, Jackson will be joining other basketball signees Emmanuel Mudiay, Brandon Jennings, and Greivis Vasquez.
Under Armour has a lot of faith in its footwear business, and believes it is a key growth driver for the company going forward. The company reported that footwear sales grew 50% last year to $1 billion.
UAA is a #3 (Hold) on the Zacks Rank, with a VGM Score of ‘F.’ Shares of Under Armour have declined about 32% year-to-date.
Looking for Ideas with Even Greater Upside?
Most of Zacks’ investment ideas are short-term and directly based on our proven 1 to 3-month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more.
Click here for a peek at this private information>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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