Urban Outfitters Inc. (URBN) Downgraded by Morgan Stanley to Equal Weight
Morgan Stanley downgraded shares of Urban Outfitters Inc. (NASDAQ:URBN) from an overweight rating to an equal weight rating in a research report report published on Thursday morning. The brokerage currently has $39.00 price target on the apparel retailer’s stock, up from their prior price target of $36.00.
URBN has been the topic of several other reports. Wells Fargo & Co. restated a hold rating and issued a $33.00 price target (up from $29.00) on shares of Urban Outfitters in a research report on Wednesday, September 28th. Vetr lowered Urban Outfitters from a buy rating to a hold rating and set a $37.50 price target on the stock. in a research report on Tuesday, September 6th. Goldman Sachs Group Inc. lowered Urban Outfitters from a buy rating to a neutral rating and raised their price target for the stock from $33.00 to $35.00 in a research report on Monday, August 22nd. Royal Bank Of Canada lifted their target price on Urban Outfitters from $29.00 to $34.00 and gave the stock a sector perform rating in a report on Wednesday, August 17th. Finally, Citigroup Inc. upgraded Urban Outfitters from a neutral rating to a buy rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $36.18.
Shares of Urban Outfitters (NASDAQ:URBN) traded down 3.66% on Thursday, reaching $37.41. The company’s stock had a trading volume of 1,507,126 shares. Urban Outfitters has a 1-year low of $20.06 and a 1-year high of $40.80. The company’s 50 day moving average is $34.99 and its 200-day moving average is $31.70. The stock has a market cap of $4.39 billion, a PE ratio of 19.26 and a beta of 0.69.
Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Tuesday, August 16th. The apparel retailer reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.10. Urban Outfitters had a return on equity of 19.57% and a net margin of 6.63%. The business had revenue of $890.57 million for the quarter, compared to analyst estimates of $886.39 million. During the same period last year, the company earned $0.52 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. On average, equities analysts predict that Urban Outfitters will post $2.06 earnings per share for the current fiscal year.
In other Urban Outfitters news, General Counsel Azeez Hayne sold 6,260 shares of the stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $39.95, for a total transaction of $250,087.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 24.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its position in 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 worth $441,804,000 after buying an additional 1,388,672 shares during the period. Vanguard Group Inc. boosted its position in Urban Outfitters by 5.4% in the second quarter. Vanguard Group Inc. now owns 8,084,293 shares of the apparel retailer’s stock worth $222,318,000 after buying an additional 412,250 shares during the period. FMR LLC boosted its position in Urban Outfitters by 12.6% in the second quarter. FMR LLC now owns 5,023,957 shares of the apparel retailer’s stock worth $138,159,000 after buying an additional 563,409 shares during the period. State Street Corp boosted its position in Urban Outfitters by 0.7% in the second quarter. State Street Corp now owns 3,682,523 shares of the apparel retailer’s stock worth $101,278,000 after buying an additional 25,135 shares during the period. Finally, AQR Capital Management LLC boosted its position in 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 worth $80,430,000 after buying an additional 1,286,540 shares during the period. 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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