Urban Outfitters Inc. (URBN) Given Hold Rating at Wells Fargo & Co.
Wells Fargo & Co. reiterated their hold rating on shares of Urban Outfitters Inc. (NASDAQ:URBN) in a research note published on Wednesday. They currently have a $33.00 price target on the apparel retailer’s stock, up from their prior price target of $29.00.
URBN has been the topic of several other reports. Vetr downgraded Urban Outfitters from a buy rating to a hold rating and set a $37.50 target price on the stock. in a research report on Tuesday, September 6th. Royal Bank Of Canada upped their target price on Urban Outfitters from $29.00 to $34.00 and gave the company a sector perform rating in a research report on Wednesday, August 17th. Goldman Sachs Group Inc. downgraded Urban Outfitters from a buy rating to a neutral rating and upped their target price for the company from $33.00 to $35.00 in a research report on Monday, August 22nd. Evercore ISI raised Urban Outfitters from a hold rating to a buy rating and upped their target price for the company from $38.00 to $40.00 in a research report on Wednesday, August 17th. Finally, Credit Suisse Group AG reissued a neutral rating and issued a $34.00 target price on shares of Urban Outfitters in a research report on Wednesday, August 17th. Twenty-two 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 company. The company has a consensus rating of Hold and a consensus price target of $35.63.
Urban Outfitters (NASDAQ:URBN) traded up 0.95% during mid-day trading on Wednesday, hitting $34.91. The company had a trading volume of 236,303 shares. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 17.98 and a beta of 1.00. The firm’s 50 day moving average is $35.35 and its 200 day moving average is $30.88. Urban Outfitters has a 52 week low of $19.26 and a 52 week high of $37.82.
Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings results 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 business had revenue of $890.57 million for the quarter, compared to the consensus estimate of $886.39 million. Urban Outfitters had a return on equity of 19.57% and a net margin of 6.63%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 earnings per share. On average, equities research analysts predict that Urban Outfitters will post $2.06 EPS 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 value of $149,680.00. Following the completion of the sale, the chief financial officer now owns 4,000 shares of the company’s stock, valued at $149,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 24.30% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Urban Outfitters during the fourth quarter valued at about $31,619,000. Chevy Chase Trust Holdings Inc. raised its stake in Urban Outfitters by 4.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 73,254 shares of the apparel retailer’s stock worth $2,424,000 after buying an additional 3,116 shares during the last quarter. CIBC World Markets Inc. purchased a new stake in Urban Outfitters during the first quarter worth $379,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Urban Outfitters during the first quarter worth $425,000. Finally, TIAA CREF Investment Management LLC raised its stake in 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 worth $25,659,000 after buying an additional 519,303 shares during the last quarter. 72.05% of the stock is owned by institutional investors.
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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