Citigroup Inc. Upgrades Urban Outfitters Inc. (URBN) to Buy
Urban Outfitters Inc. (NASDAQ:URBN) was upgraded by equities researchers at Citigroup Inc. from a “neutral” rating to a “buy” rating in a research report issued on Tuesday.
Several other analysts have also recently weighed in on the stock. Vetr cut shares of Urban Outfitters from a “buy” rating to a “strong sell” rating and set a $33.77 price objective on the stock. in a research report on Tuesday. Wunderlich upgraded shares of Urban Outfitters from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Thursday, November 10th. Jefferies Group set a $45.00 price objective on shares of Urban Outfitters and gave the company a “buy” rating in a research report on Monday, October 24th. MKM Partners reiterated a “neutral” rating and issued a $36.00 target price on shares of Urban Outfitters in a research report on Wednesday, October 12th. Finally, Wells Fargo & Co. reiterated a “hold” rating and issued a $33.00 target price (up previously from $29.00) on shares of Urban Outfitters in a research report on Wednesday, September 28th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $35.90.
Shares of Urban Outfitters (NASDAQ:URBN) opened at 39.12 on Tuesday. The company has a 50 day moving average of $34.87 and a 200 day moving average of $31.65. The company has a market cap of $4.59 billion, a PE ratio of 20.14 and a beta of 0.69. Urban Outfitters has a 52 week low of $20.06 and a 52 week high of $40.80.
Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings data on Tuesday, August 16th. The apparel retailer reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.10. The firm had revenue of $890.57 million for 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 quarter last year, the company posted $0.52 EPS. On average, analysts expect that Urban Outfitters will post $2.06 EPS for the current year.
In related news, General Counsel Azeez Hayne sold 6,260 shares of the company’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $39.95, for a total transaction of $250,087.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Frank Conforti sold 4,000 shares of the company’s 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 sale, the chief financial officer now directly owns 4,000 shares in the company, valued at approximately $149,680. The disclosure for this sale can be found here. Corporate insiders own 24.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its stake 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 valued at $104,000 after buying an additional 1,550 shares in the last quarter. Robecosam AG purchased a new stake in shares of Urban Outfitters during the second quarter valued at $108,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Urban Outfitters by 11.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,150 shares of the apparel retailer’s stock valued at $109,000 after buying an additional 327 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Urban Outfitters during the second quarter valued at $121,000. Finally, 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 in the last quarter. 73.56% 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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