Urban Outfitters Stock Rating Upgraded by Canaccord Genuity (URBN)
Urban Outfitters (NASDAQ:URBN) was upgraded by equities research analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm currently has a $48.00 price objective on the stock. Canaccord Genuity’s target price indicates a potential upside of 25.92% from the stock’s previous close.
The analysts wrote, “We believe the market has overreacted since URBN filed its 10-Q on September 9, indicating comparable retail sales were trending mid-single-digit positive QTD. The stock has declined 11% since that time, compared with the S&P 500 index +3% and the RLX index +4%. We view URBN’s mid-single-digit growth as a healthy indication of sustained market share gains given the challenging apparel environment that includes flat to negative mall traffic, and we view the pullback as a buying opportunity. Shares currently trade at 18x our C2014 EPS estimate and 8x C2014E EV/EBITDA, which we do not believe reflects URBN’s long-term growth potential. We are upgrading shares from Hold to BUY and maintaining our DCF-model-generated price target of $48.”
Urban Outfitters (NASDAQ:URBN) traded up 0.09% on Friday, hitting $38.155. The stock had a trading volume of 724,299 shares. Urban Outfitters has a 52 week low of $34.38 and a 52 week high of $44.96. The stock has a 50-day moving average of $41.14 and a 200-day moving average of $41.2. The company has a market cap of $5.623 billion and a P/E ratio of 21.21.
Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Monday, August 19th. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 12.2% on a year-over-year basis. On average, analysts predict that Urban Outfitters will post $1.92 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Sterne Agee initiated coverage on shares of Urban Outfitters (NASDAQ:URBN) in a research note to investors on Friday, September 13th. They set a “buy” rating and a $45.00 price target on the stock. Separately, analysts at Nomura initiated coverage on shares of Urban Outfitters (NASDAQ:URBN) in a research note to investors on Monday, September 9th. They set a “neutral” rating and a $45.00 price target on the stock. Finally, analysts at Janney Montgomery Scott reiterated a “buy” rating on shares of Urban Outfitters (NASDAQ:URBN) in a research note to investors on Thursday, September 5th. They now have a $46.00 price target on the stock, down previously from $52.00.
One research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $46.58.
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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