Urban Outfitters Given “Neutral” Rating at Wells Fargo & Co. (URBN)
Urban Outfitters (NASDAQ:URBN)‘s stock had its “neutral” rating reaffirmed by stock analysts at Wells Fargo & Co. in a report issued on Monday, American Banking News reports.
The analysts wrote, “We are reducing our Q3 2013 comp estimate from +7-8% to +5-6% and our EPS estimate from $0.49 to $0.46. Our FY2013E is now $1.93 vs. $1.99 previously. Though URBN is not necessarily a teen retailer, it seems to be suffering from the same sickness that is causing traffic and sales weakness in the mall, particularly in the Urban Outfitters concept. A strong Anthro and Free People business provides some insulation, but Urban is not immune, in our view.”
Urban Outfitters (NASDAQ:URBN) traded down 0.43% during mid-day trading on Monday, hitting $35.74. The stock had a trading volume of 472,427 shares. Urban Outfitters has a 52-week low of $34.38 and a 52-week high of $44.96. The stock’s 50-day moving average is $38.73 and its 200-day moving average is $40.79. The company has a market cap of $5.267 billion and a P/E ratio of 19.97.
Urban Outfitters (NASDAQ:URBN) last released its earnings data 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 $1.91 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at UBS AG cut their price target on shares of Urban Outfitters from $45.00 to $39.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Urban Outfitters in a research note to investors on Thursday, October 3rd. They now have a $48.00 price target on the stock. Finally, analysts at Sterne Agee cut their price target on shares of Urban Outfitters from $45.00 to $36.92 in a research note to investors on Thursday, October 3rd. They now have an “underperform” rating on the stock. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $46.07.
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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