Urban Outfitters Upgraded to “Outperform” at Wedbush (URBN)
Urban Outfitters (NASDAQ:URBN) was upgraded by analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $52.00 price target on the stock. Wedbush’s price target suggests a potential upside of 30.26% from the stock’s previous close.
The analysts wrote, “We are upgrading shares to OUTPERFORM from NEUTRAL given (1) on-trend merchandise, (2) solid inventory control, (3) stellar online/mobile penetration, (4) compelling growth from existing brands and potential acquisitions. Despite a choppy retail landscape, URBN posted sequential comp gains at Anthro and FP, along with lower markdowns and higher full-priced sell-throughs. With trend-right merchandise, we believe management’s plans for ‘at least 50 bps in gross margin gain in H2′ appears conservative.”
Shares of Urban Outfitters (NASDAQ:URBN) traded up 9.62% on Tuesday, hitting $43.76. The stock had a trading volume of 5,311,399 shares. Urban Outfitters has a 1-year low of $34.38 and a 1-year high of $44.96. The stock’s 50-day moving average is $41.98 and its 200-day moving average is $41.33. The company has a market cap of $6.430 billion and a P/E ratio of 23.39. Urban Outfitters also saw unusually large options trading on Monday. Stock investors bought 14,816 call options on the company. This is an increase of approximately 1,104% compared to the average daily volume of 1,231 call options.
Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Monday, August 19th. The company reported $0.51 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.48 by $0.03. The company had revenue of $758.52 million for the quarter, compared to the consensus estimate of $768.07 million. During the same quarter last year, the company posted $0.42 earnings per share. Urban Outfitters’s revenue was up 12.2% compared to the same quarter last year. On average, analysts predict that Urban Outfitters will post $1.91 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on URBN. Analysts at SunTrust initiated coverage on shares of Urban Outfitters in a research note to investors on Friday, July 19th. They set a “buy” rating and a GBX 50 ($0.78) price target on the stock. Separately, analysts at Maxim Group initiated coverage on shares of Urban Outfitters in a research note to investors on Monday, June 24th. They set a “hold” rating and a $41.00 price target on the stock. Finally, analysts at Oppenheimer reiterated an “outperform” rating on shares of Urban Outfitters in a research note to investors on Wednesday, June 19th. They now have a $53.00 price target on the stock.
Twelve equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Urban Outfitters currently has a consensus rating of “Buy” and an average target price of $45.03.
Urban Outfitters, Inc (NASDAQ:URBN) is a lifestyle specialty retail company, which operates under the Urban Outfitters, Anthropologie, Free People, Terrain and BHLDN brands.
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