Buckingham Research Increases Urban Outfitters, Inc. (URBN) Price Target to $30.00
Urban Outfitters, Inc. (NASDAQ:URBN) had its price objective increased by equities researchers at Buckingham Research from $25.00 to $30.00 in a note issued to investors on Tuesday. The firm presently has a “buy” rating on the apparel retailer’s stock. Buckingham Research’s price objective would indicate a potential upside of 12.57% from the stock’s current price.
Other equities analysts also recently issued reports about the stock. Royal Bank Of Canada increased their price objective on shares of Urban Outfitters from $17.00 to $21.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 16th. SunTrust Banks, Inc. reiterated a “buy” rating on shares of Urban Outfitters in a research note on Wednesday, August 16th. KeyCorp set a $26.00 price objective on shares of Urban Outfitters and gave the company a “buy” rating in a research note on Wednesday, August 16th. B. Riley reiterated a “neutral” rating on shares of Urban Outfitters in a research note on Wednesday, November 1st. Finally, MKM Partners set a $16.00 price objective on shares of Urban Outfitters and gave the company a “sell” rating in a research note on Wednesday, August 16th. Three investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $23.03.
Urban Outfitters (NASDAQ URBN) traded up $0.97 during midday trading on Tuesday, hitting $26.65. 1,576,761 shares of the stock were exchanged, compared to its average volume of 3,345,136. Urban Outfitters has a 1 year low of $16.19 and a 1 year high of $39.71. The company has a market capitalization of $2,793.15, a P/E ratio of 16.51, a PEG ratio of 1.52 and a beta of 0.62.
Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings data on Tuesday, August 15th. The apparel retailer reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.07. Urban Outfitters had a net margin of 4.92% and a return on equity of 13.61%. The firm had revenue of $873.00 million for the quarter, compared to the consensus estimate of $860.80 million. During the same period last year, the firm earned $0.66 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. analysts anticipate that Urban Outfitters will post 1.43 earnings per share for the current year.
Urban Outfitters declared that its board has authorized a share repurchase program on Thursday, August 24th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the apparel retailer to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Sun Life Financial INC acquired a new position in Urban Outfitters during the second quarter worth about $151,000. LS Investment Advisors LLC boosted its position in Urban Outfitters by 12.5% during the second quarter. LS Investment Advisors LLC now owns 9,488 shares of the apparel retailer’s stock worth $176,000 after acquiring an additional 1,052 shares during the last quarter. Pacad Investment Ltd. acquired a new position in Urban Outfitters during the second quarter worth about $191,000. BT Investment Management Ltd acquired a new position in Urban Outfitters during the second quarter worth about $196,000. Finally, Oppenheimer Asset Management Inc. boosted its position in Urban Outfitters by 0.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 10,691 shares of the apparel retailer’s stock worth $198,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 87.42% of the company’s stock.
About Urban Outfitters
Urban Outfitters, Inc is a lifestyle specialty retail company. The Company operates through two segments: Retail and Wholesale. The Company’s Retail segment consists of its Urban Outfitters, Anthropologie, Free People, Terrain and Bhldn brands, whose merchandise is sold to its customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
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