Vetr downgraded shares of Urban Outfitters Inc. (NASDAQ:URBN) from a buy rating to a hold rating in a research note released on Monday. They currently have $37.57 price target on the apparel retailer’s stock.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Urban Outfitters from a sell rating to a hold rating in a report on Wednesday, August 10th. Goldman Sachs Group Inc. cut shares of Urban Outfitters from a buy rating to a neutral rating and increased their target price for the stock from $33.00 to $35.00 in a report on Monday, August 22nd. Robert W. Baird reissued an outperform rating and issued a $38.00 target price on shares of Urban Outfitters in a report on Saturday, September 10th. Piper Jaffray Cos. reissued a fair value rating and issued a $42.00 target price (up previously from $32.00) on shares of Urban Outfitters in a report on Wednesday, August 17th. Finally, Royal Bank Of Canada increased their target price on shares of Urban Outfitters from $29.00 to $34.00 and gave the stock a sector perform rating in a report on Wednesday, August 17th. Twenty-two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $35.63.
Shares of Urban Outfitters (NASDAQ:URBN) traded down 0.33% during midday trading on Monday, hitting $36.18. 56,562 shares of the stock traded hands. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 18.63 and a beta of 0.91. Urban Outfitters has a 52 week low of $19.26 and a 52 week high of $37.82. The firm’s 50-day moving average is $35.91 and its 200 day moving average is $31.03.
Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings data on Tuesday, August 16th. The apparel retailer reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.10. The firm had revenue of $890.57 million for the quarter, compared to the consensus estimate of $886.39 million. Urban Outfitters had a net margin of 6.63% and a return on equity of 19.57%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. Equities analysts forecast that Urban Outfitters will post $2.06 earnings per share for the current year.
In related news, CFO Frank Conforti sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $37.42, for a total value of $149,680.00. Following the completion of the sale, the chief financial officer now owns 4,000 shares in the company, valued at approximately $149,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 24.30% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Urban Outfitters during the fourth quarter valued at $31,619,000. Massachusetts Financial Services Co. MA increased its stake in shares of Urban Outfitters by 9.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,065,645 shares of the apparel retailer’s stock valued at $441,804,000 after buying an additional 1,388,672 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Urban Outfitters by 78.5% in the second quarter. AQR Capital Management LLC now owns 2,924,749 shares of the apparel retailer’s stock valued at $80,430,000 after buying an additional 1,286,540 shares during the last quarter. Numeric Investors LLC increased its stake in shares of Urban Outfitters by 286.0% in the second quarter. Numeric Investors LLC now owns 998,300 shares of the apparel retailer’s stock valued at $27,453,000 after buying an additional 739,700 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Urban Outfitters by 12.6% in the second quarter. FMR LLC now owns 5,023,957 shares of the apparel retailer’s stock valued at $138,159,000 after buying an additional 563,409 shares during the last quarter. Institutional investors own 72.05% of the company’s stock.
Urban Outfitters Company Profile
Urban Outfitters, Inc (Urban Outfitters) is a lifestyle retail company. The Company operates through two business segments: Retail and Wholesale. The Retail segment consists of the Company’s Urban Outfitters, Anthropologie Group, Free People and Terrain brands, whose merchandise is sold directly to the Company’s customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
To view Vetr’s full report, visit Vetr’s official website.
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