MKM Partners restated their neutral rating on shares of Urban Outfitters Inc. (NASDAQ:URBN) in a research note published on Wednesday morning. MKM Partners currently has a $36.00 price target on the apparel retailer’s stock.
Several other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Urban Outfitters from a sell rating to a hold rating in a report on Wednesday, August 10th. Goldman Sachs Group Inc. lowered shares of Urban Outfitters from a buy rating to a neutral rating and lifted their target price for the company from $33.00 to $35.00 in a report on Monday, August 22nd. Vetr upgraded shares of Urban Outfitters from a hold rating to a buy rating and set a $37.50 target price on the stock in a report on Wednesday, August 31st. Robert W. Baird restated an outperform rating and set a $38.00 target price on shares of Urban Outfitters in a report on Saturday, September 10th. Finally, Piper Jaffray Cos. restated a fair value rating and set a $42.00 target price (up previously from $32.00) on shares of Urban Outfitters in a report on Wednesday, August 17th. Twenty-two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Hold and an average target price of $35.78.
Urban Outfitters (NASDAQ:URBN) opened at 34.77 on Wednesday. The firm’s 50 day moving average price is $35.70 and its 200 day moving average price is $31.13. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 17.90 and a beta of 0.91. Urban Outfitters has a one year low of $19.26 and a one year high of $37.82.
Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Tuesday, August 16th. The apparel retailer reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.10. The company had revenue of $890.57 million for the quarter, compared to analyst estimates of $886.39 million. Urban Outfitters had a net margin of 6.63% and a return on equity of 19.57%. Urban Outfitters’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business earned $0.52 EPS. Equities analysts forecast that Urban Outfitters will post $2.06 earnings per share for the current year.
In other news, CFO Frank Conforti sold 4,000 shares of the stock in a transaction on Friday, August 19th. The shares were sold at an average price of $37.42, for a total transaction of $149,680.00. Following the transaction, the chief financial officer now owns 4,000 shares in the company, valued at approximately $149,680. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 24.30% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in URBN. CIBC World Markets Inc. acquired a new position in shares of Urban Outfitters during the first quarter valued at approximately $379,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Urban Outfitters during the first quarter valued at approximately $425,000. TIAA CREF Investment Management LLC raised its position in shares of Urban Outfitters by 202.8% in the first quarter. TIAA CREF Investment Management LLC now owns 775,418 shares of the apparel retailer’s stock valued at $25,659,000 after buying an additional 519,303 shares during the period. Teachers Advisors Inc. raised its position in shares of Urban Outfitters by 1.1% in the first quarter. Teachers Advisors Inc. now owns 144,214 shares of the apparel retailer’s stock valued at $4,772,000 after buying an additional 1,560 shares during the period. Finally, Prudential Financial Inc. raised its position in shares of Urban Outfitters by 0.6% in the first quarter. Prudential Financial Inc. now owns 119,304 shares of the apparel retailer’s stock valued at $3,948,000 after buying an additional 750 shares during the period. Institutional investors own 72.27% of the company’s stock.
About Urban Outfitters
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.
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