Why They’re Up Big: Under Armour (UA), PVH Corp (PVH), Fastenal (FAST)
While the market is up a little today, several companies are crushing it today. Some of the biggest moves have been seen in Under Armour Inc (UA), Phillips-Van Heusen Corp (PVH), and Fastenal Company (FAST).
Under Armour Inc (UA) is no stranger to big moves and today is no exception. The stock has been on fire the past 3 months, having risen up over 40% in that time. Today Under Armour Inc (UA) is trading at $72.40 up $2.06 today, on volume of over 1 million shares traded so far. While UA may have lost Kevin Durant to Nike, they did manage to sign Tom Brady’s wife, Gisele Bündchen, to a deal. That deal will definitely help them target, and grow their female customer base. It seems investors agree as they send Under Armour Inc (UA) shares to another 52 week high today.
Phillips-Van Heusen Corp (PVH) reported a strong Q2 earnings beat today, and also received favourable commentary from Nomura and Morgan Stanley analysts. This has helped it’s shares skyrocket up over 11% on the day. Phillips-Van Heusen Corp (PVH) is currently trading at $128.25, up $11.12 so far today. The 52 week high on PVH is $138.94, while the low is $107.05. Volume is already almost 3 times the daily average, having traded over 2.4 million shares before noon.
Fastenal Company (FAST) took a beating after last earnings report in July, and is now on the fast tract to gain back that drop in very short order. It seems that investors believe things are looking brighter for the company since that miss in July. Fastenal Company (FAST) is trading at $47.08 today, up $1.72 so far, on volume of 1.75 million shares as of noon today. FAST usually only trades that many shares in an entire day, on average.
The consensus rating on FAST is a BUY, with an average price target of $49.67. There hasn’t been any analyst updates since July 31, so it could be ripe for a new upgrade and price target raise from a large firm soon.
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