Urban Outfitters’ (URBN) “Buy” Rating Reaffirmed at Robert W. Baird
Robert W. Baird restated their buy rating on shares of Urban Outfitters (NASDAQ:URBN) in a research report report published on Friday. They currently have a $35.00 price target on the apparel retailer’s stock.
Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Urban Outfitters from a hold rating to a buy rating and set a $26.00 target price on the stock in a research report on Tuesday, October 17th. Buckingham Research boosted their target price on Urban Outfitters from $25.00 to $30.00 and gave the stock a buy rating in a research report on Tuesday, November 14th. Jefferies Group reiterated a buy rating and set a $25.00 target price on shares of Urban Outfitters in a research report on Thursday, September 28th. SunTrust Banks set a $35.00 price objective on Urban Outfitters and gave the company a buy rating in a research report on Monday, December 11th. Finally, Royal Bank of Canada set a $21.00 price objective on Urban Outfitters and gave the company a hold rating in a research report on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $25.20.
Urban Outfitters (NASDAQ:URBN) traded up $0.47 on Friday, reaching $32.78. The company’s stock had a trading volume of 4,128,988 shares, compared to its average volume of 4,339,904. The stock has a market capitalization of $3,497.51, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 1.73 and a beta of 0.73. Urban Outfitters has a one year low of $16.19 and a one year high of $34.00.
Urban Outfitters announced that its board has initiated a share repurchase plan on Thursday, August 24th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the apparel retailer to buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
Several hedge funds have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. grew its stake in shares of Urban Outfitters by 0.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,691 shares of the apparel retailer’s stock valued at $198,000 after buying an additional 43 shares in the last quarter. Advisor Group Inc. grew its stake in shares of Urban Outfitters by 1.1% in the second quarter. Advisor Group Inc. now owns 32,251 shares of the apparel retailer’s stock valued at $595,000 after buying an additional 338 shares in the last quarter. Empirical Finance LLC grew its stake in shares of Urban Outfitters by 0.5% in the second quarter. Empirical Finance LLC now owns 66,575 shares of the apparel retailer’s stock valued at $1,235,000 after buying an additional 360 shares in the last quarter. Texas Permanent School Fund grew its stake in shares of Urban Outfitters by 0.9% in the second quarter. Texas Permanent School Fund now owns 64,527 shares of the apparel retailer’s stock valued at $1,196,000 after buying an additional 570 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Urban Outfitters by 1.6% in the second quarter. Arizona State Retirement System now owns 37,300 shares of the apparel retailer’s stock valued at $692,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 86.54% of the company’s stock.
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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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