Urban Outfitters Inc. (URBN) Shares Gap Down After Analyst Downgrade
Shares of Urban Outfitters Inc. (NASDAQ:URBN) gapped down prior to trading on Thursday after MKM Partners lowered their price target on the stock from $36.00 to $35.00. The stock had previously closed at $33.62, but opened at $34.31. MKM Partners currently has a neutral rating on the stock. Urban Outfitters shares last traded at $34.31, with a volume of 16,756,121 shares.
Several other research firms have also recently issued reports on URBN. Vetr cut Urban Outfitters from a “buy” rating to a “strong sell” rating and set a $33.77 target price on the stock. in a research note on Tuesday, November 15th. Citigroup Inc. raised Urban Outfitters from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 15th. Morgan Stanley cut Urban Outfitters from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $36.00 to $39.00 in a research note on Thursday, November 17th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Urban Outfitters in a research note on Tuesday. Finally, Wunderlich cut Urban Outfitters from a “buy” rating to a “hold” rating and cut their target price for the stock from $40.00 to $32.00 in a research note on Wednesday. Twenty-two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $35.79.
In other news, General Counsel Azeez Hayne sold 6,260 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 24.30% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Palo Capital Inc. acquired a new stake in shares of Urban Outfitters during the second quarter worth about $408,000. First Quadrant L P CA increased its stake in shares of Urban Outfitters by 253.7% in the second quarter. First Quadrant L P CA now owns 473,601 shares of the apparel retailer’s stock worth $13,024,000 after buying an additional 339,701 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Urban Outfitters by 304.6% in the second quarter. Acadian Asset Management LLC now owns 19,365 shares of the apparel retailer’s stock worth $532,000 after buying an additional 14,579 shares during the last quarter. Americafirst Capital Management LLC acquired a new stake in shares of Urban Outfitters during the second quarter worth about $572,000. Finally, GW&K Investment Management LLC increased its stake in shares of Urban Outfitters by 18.1% in the second quarter. GW&K Investment Management LLC now owns 404,123 shares of the apparel retailer’s stock worth $11,113,000 after buying an additional 62,027 shares during the last quarter. 74.17% of the stock is owned by hedge funds and other institutional investors.
The stock’s 50 day moving average price is $35.15 and its 200 day moving average price is $31.98. The firm has a market capitalization of $3.93 billion, a PE ratio of 17.28 and a beta of 0.69.
Urban Outfitters (NASDAQ:URBN) last posted its earnings results on Tuesday, November 22nd. The apparel retailer reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.04. Urban Outfitters had a net margin of 6.42% and a return on equity of 19.13%. The firm had revenue of $862.50 million for the quarter. During the same period last year, the firm earned $0.42 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, analysts forecast that Urban Outfitters Inc. will post $2.05 earnings per share for the current year.
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Urban Outfitters Company Profile
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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