Urban Outfitters (NASDAQ:URBN) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Urban Outfitters (NASDAQ:URBN) from a buy rating to a hold rating in a report published on Saturday.

Several other analysts have also recently issued reports on URBN. Guggenheim started coverage on shares of Urban Outfitters in a research report on Tuesday, December 9th. They set a “neutral” rating on the stock. UBS Group restated a “neutral” rating on shares of Urban Outfitters in a report on Tuesday, January 13th. JPMorgan Chase & Co. cut their target price on shares of Urban Outfitters from $96.00 to $94.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th. Telsey Advisory Group reiterated an “outperform” rating and set a $98.00 target price on shares of Urban Outfitters in a report on Thursday, February 26th. Finally, The Goldman Sachs Group started coverage on shares of Urban Outfitters in a research report on Tuesday, December 9th. They issued a “neutral” rating and a $83.00 price target for the company. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $86.25.

Urban Outfitters Stock Performance

Shares of NASDAQ URBN opened at $64.57 on Friday. The stock has a market capitalization of $5.53 billion, a PE ratio of 12.74, a PEG ratio of 1.25 and a beta of 1.20. Urban Outfitters has a twelve month low of $41.89 and a twelve month high of $84.35. The stock has a fifty day simple moving average of $66.82 and a 200-day simple moving average of $69.90.

Urban Outfitters (NASDAQ:URBN) last posted its earnings results on Wednesday, February 25th. The apparel retailer reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.19. Urban Outfitters had a return on equity of 18.96% and a net margin of 7.54%.The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the company earned $1.04 EPS. Urban Outfitters’s revenue was up 10.1% on a year-over-year basis. On average, equities analysts predict that Urban Outfitters will post 3.91 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Margaret Hayne sold 9,333 shares of Urban Outfitters stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $70.50, for a total value of $657,976.50. Following the completion of the transaction, the insider owned 1,933,859 shares in the company, valued at $136,337,059.50. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard A. Hayne sold 10,667 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $70.50, for a total transaction of $752,023.50. Following the transaction, the chief executive officer owned 17,449,385 shares of the company’s stock, valued at $1,230,181,642.50. This trade represents a 0.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 293,517 shares of company stock worth $21,395,930 over the last 90 days. Insiders own 31.60% of the company’s stock.

Institutional Investors Weigh In On Urban Outfitters

Hedge funds and other institutional investors have recently modified their holdings of the company. Abrams Bison Investments LLC acquired a new position in shares of Urban Outfitters during the fourth quarter worth $127,114,000. Jupiter Asset Management Ltd. raised its stake in Urban Outfitters by 900.1% in the third quarter. Jupiter Asset Management Ltd. now owns 969,999 shares of the apparel retailer’s stock valued at $69,287,000 after buying an additional 873,008 shares in the last quarter. Capital World Investors acquired a new stake in Urban Outfitters in the third quarter valued at $60,795,000. Norges Bank purchased a new stake in Urban Outfitters during the 2nd quarter worth about $55,429,000. Finally, Balyasny Asset Management L.P. boosted its position in shares of Urban Outfitters by 5,360.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 618,152 shares of the apparel retailer’s stock worth $44,155,000 after acquiring an additional 606,831 shares in the last quarter. 77.61% of the stock is currently owned by institutional investors and hedge funds.

About Urban Outfitters

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city’s historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.