Urban Outfitters (NASDAQ:URBN) Shares Gap Up on Analyst Upgrade
Urban Outfitters, Inc. (NASDAQ:URBN)’s share price gapped up before the market opened on Friday after Loop Capital raised their price target on the stock to $35.00. The stock had previously closed at $25.69, but opened at $26.34. Loop Capital currently has a sell rating on the stock. Urban Outfitters shares last traded at $26.75, with a volume of 1,918,404 shares changing hands.
URBN has been the subject of several other research reports. Deutsche Bank lowered their target price on shares of Urban Outfitters from $29.00 to $28.00 and set a “hold” rating for the company in a report on Friday, August 16th. Wells Fargo & Co set a $25.00 price target on shares of Urban Outfitters and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Wolfe Research reduced their price target on shares of Urban Outfitters from $30.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 21st. Morgan Stanley reduced their price target on shares of Urban Outfitters from $42.00 to $34.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Finally, KeyCorp reissued a “hold” rating on shares of Urban Outfitters in a research report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. Urban Outfitters presently has a consensus rating of “Hold” and an average target price of $29.41.
Large investors have recently added to or reduced their stakes in the company. Investment Counselors of Maryland LLC purchased a new position in shares of Urban Outfitters during the second quarter valued at about $20,258,000. Victory Capital Management Inc. purchased a new position in shares of Urban Outfitters in the 2nd quarter worth $16,450,000. Parametric Portfolio Associates LLC grew its stake in shares of Urban Outfitters by 182.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 811,393 shares of the apparel retailer’s stock worth $24,050,000 after buying an additional 524,469 shares in the last quarter. Morgan Stanley grew its stake in shares of Urban Outfitters by 121.7% in the 2nd quarter. Morgan Stanley now owns 921,845 shares of the apparel retailer’s stock worth $20,971,000 after buying an additional 505,998 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Urban Outfitters in the 2nd quarter worth $10,986,000. 74.16% of the stock is owned by institutional investors.
Urban Outfitters (NASDAQ:URBN) last released its earnings results on Tuesday, August 20th. The apparel retailer reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Urban Outfitters had a net margin of 6.54% and a return on equity of 18.10%. The firm had revenue of $962.30 million during the quarter, compared to analyst estimates of $981.40 million. During the same quarter last year, the business earned $0.84 EPS. The business’s revenue was down 3.0% on a year-over-year basis. Analysts forecast that Urban Outfitters, Inc. will post 2.3 earnings per share for the current year.
Urban Outfitters Company Profile (NASDAQ:URBN)
Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates in two segments, Retail and wholesale. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's casual apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.
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