Urban Outfitters Inc. (URBN) Downgraded to Hold at Vetr Inc.
Urban Outfitters Inc. (NASDAQ:URBN) was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Monday. They presently have a $37.57 price objective on the apparel retailer’s stock. Vetr‘s price objective indicates a potential upside of 2.62% from the stock’s current price.
Several other research firms have also recently weighed in on URBN. Wells Fargo & Co. reissued a “market perform” rating and issued a $25.00 target price (down from $26.00) on shares of Urban Outfitters in a research note on Monday, June 13th. Jefferies Group raised their target price on shares of Urban Outfitters from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. Wolfe Research raised shares of Urban Outfitters from a “peer perform” rating to an “outperform” rating and raised their target price for the company from $36.00 to $43.00 in a research note on Wednesday, September 7th. Robert W. Baird reissued an “outperform” rating and issued a $38.00 target price on shares of Urban Outfitters in a research note on Saturday, September 10th. Finally, Nomura raised their target price on shares of Urban Outfitters from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, August 17th. Twenty-two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $35.63.
Shares of Urban Outfitters (NASDAQ:URBN) opened at 36.61 on Monday. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 18.85 and a beta of 0.91. The firm has a 50-day moving average of $35.96 and a 200 day moving average of $31.02. Urban Outfitters has a one year low of $19.26 and a one year 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 for the quarter, topping the consensus estimate of $0.56 by $0.10. The company earned $890.57 million during the quarter, compared to analysts’ expectations of $886.39 million. Urban Outfitters had a net margin of 6.63% and a return on equity of 19.57%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $0.52 EPS. Equities research analysts anticipate that Urban Outfitters will post $2.06 EPS for the current year.
In other news, CFO Frank Conforti sold 4,000 shares of the company’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 transaction of $149,680.00. Following the transaction, the chief financial officer now directly owns 4,000 shares of the company’s stock, valued at $149,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 24.30% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position in shares of Urban Outfitters by 70.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,758 shares of the apparel retailer’s stock worth $104,000 after buying an additional 1,550 shares during the last quarter. Robecosam AG bought a new stake in shares of Urban Outfitters during the second quarter valued at about $108,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Urban Outfitters during the second quarter valued at about $121,000. LS Investment Advisors LLC increased its stake in shares of Urban Outfitters by 16.0% in the second quarter. LS Investment Advisors LLC now owns 4,708 shares of the apparel retailer’s stock valued at $129,000 after buying an additional 651 shares during the period. Finally, Kentucky Retirement Systems bought a new stake in shares of Urban Outfitters during the second quarter valued at about $203,000. 72.05% of the stock is currently 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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