Urban Outfitters, Inc. (URBN) Raised to “Outperform” at Wolfe Research
Wolfe Research upgraded shares of Urban Outfitters, Inc. (NASDAQ:URBN) from a peer perform rating to an outperform rating in a research note issued to investors on Wednesday, MarketBeat.com reports. Wolfe Research currently has $30.00 price target on the apparel retailer’s stock.
A number of other research firms have also recently commented on URBN. Deutsche Bank AG restated a hold rating and issued a $18.00 target price (down previously from $19.00) on shares of Urban Outfitters in a research note on Friday, August 11th. FBR & Co lowered their target price on Urban Outfitters from $24.00 to $16.00 and set a neutral rating for the company in a research note on Tuesday, August 15th. Oppenheimer Holdings, Inc. restated a hold rating on shares of Urban Outfitters in a research note on Tuesday, August 15th. Royal Bank Of Canada raised their target price on Urban Outfitters from $17.00 to $21.00 and gave the company a sector perform rating in a research note on Wednesday, August 16th. Finally, BMO Capital Markets set a $20.00 target price on Urban Outfitters and gave the company a hold rating in a research note on Tuesday, August 8th. Three investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $23.03.
Urban Outfitters (URBN) traded up $1.45 on Wednesday, hitting $27.90. The stock had a trading volume of 9,650,000 shares, compared to its average volume of 2,240,000. The stock has a market cap of $3,060.00, a PE ratio of 16.51, a PEG ratio of 1.52 and a beta of 0.62. Urban Outfitters has a 52 week low of $16.19 and a 52 week high of $39.29.
Urban Outfitters (NASDAQ:URBN) last released its earnings results on Tuesday, August 15th. The apparel retailer reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.07. The company had revenue of $873.00 million during the quarter, compared to analysts’ expectations of $860.80 million. Urban Outfitters had a return on equity of 13.61% and a net margin of 4.92%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 EPS. equities analysts expect that Urban Outfitters will post 1.43 EPS for the current fiscal year.
Urban Outfitters declared that its Board of Directors has approved a stock buyback plan on Thursday, August 24th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Institutional investors have recently made changes to their positions in the company. Empirical Finance LLC lifted its position in shares of Urban Outfitters by 45.9% in the third quarter. Empirical Finance LLC now owns 97,134 shares of the apparel retailer’s stock valued at $2,322,000 after acquiring an additional 30,559 shares in the last quarter. Cornerstone Capital Management Holdings LLC. lifted its position in shares of Urban Outfitters by 39.8% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 30,900 shares of the apparel retailer’s stock valued at $572,000 after acquiring an additional 8,800 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Urban Outfitters by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 3,926,812 shares of the apparel retailer’s stock valued at $72,803,000 after acquiring an additional 10,249 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Urban Outfitters by 2.9% in the second quarter. First Trust Advisors LP now owns 370,822 shares of the apparel retailer’s stock valued at $6,875,000 after acquiring an additional 10,503 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Urban Outfitters by 11.0% in the second quarter. Russell Investments Group Ltd. now owns 138,911 shares of the apparel retailer’s stock valued at $2,577,000 after acquiring an additional 13,795 shares in the last quarter. Institutional investors and hedge funds 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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