Urban Outfitters Inc. (URBN) Downgraded to Hold at Vetr Inc.
Urban Outfitters Inc. (NASDAQ:URBN) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued on Monday. They presently have a $37.57 price target on the apparel retailer’s stock. Vetr‘s target price indicates a potential upside of 2.62% from the stock’s previous close.
URBN has been the topic of several other reports. Wells Fargo & Co. restated a “hold” rating and set a $33.00 price target (up from $29.00) on shares of Urban Outfitters in a research report on Wednesday, September 28th. Goldman Sachs Group Inc. lowered Urban Outfitters from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $33.00 to $35.00 in a research report on Monday, August 22nd. Royal Bank Of Canada lifted their price objective on Urban Outfitters from $29.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 17th. Evercore ISI upgraded Urban Outfitters from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $38.00 to $40.00 in a research report on Wednesday, August 17th. Finally, Credit Suisse Group AG reiterated a “neutral” rating and issued a $34.00 price objective on shares of Urban Outfitters in a research report on Wednesday, August 17th. Twenty-two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $35.63.
Shares of Urban Outfitters (NASDAQ:URBN) opened at 36.61 on Monday. The company’s 50-day moving average price is $35.96 and its 200 day moving average price is $31.02. Urban Outfitters has a one year low of $19.26 and a one year high of $37.82. The company has a market cap of $4.29 billion, a P/E ratio of 18.85 and a beta of 0.91.
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Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Tuesday, August 16th. The apparel retailer reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.10. Urban Outfitters had a return on equity of 19.57% and a net margin of 6.63%. The business had revenue of $890.57 million for the quarter, compared to analyst estimates of $886.39 million. During the same period last year, the company earned $0.52 EPS. Urban Outfitters’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts anticipate that Urban Outfitters will post $2.06 earnings per share for the current year.
In other Urban Outfitters news, CFO Frank Conforti sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $37.42, for a total transaction of $149,680.00. Following the sale, the chief financial officer now directly owns 4,000 shares in the company, valued at $149,680. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 24.30% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its stake in shares of Urban Outfitters by 9.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,065,645 shares of the apparel retailer’s stock worth $441,804,000 after buying an additional 1,388,672 shares during the period. Vanguard Group Inc. increased its stake in shares of Urban Outfitters by 5.4% in the second quarter. Vanguard Group Inc. now owns 8,084,293 shares of the apparel retailer’s stock worth $222,318,000 after buying an additional 412,250 shares during the period. FMR LLC increased its stake in shares of Urban Outfitters by 12.6% in the second quarter. FMR LLC now owns 5,023,957 shares of the apparel retailer’s stock worth $138,159,000 after buying an additional 563,409 shares during the period. State Street Corp increased its stake in shares of Urban Outfitters by 0.7% in the second quarter. State Street Corp now owns 3,682,523 shares of the apparel retailer’s stock worth $101,278,000 after buying an additional 25,135 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Urban Outfitters by 78.5% in the second quarter. AQR Capital Management LLC now owns 2,924,749 shares of the apparel retailer’s stock worth $80,430,000 after buying an additional 1,286,540 shares during the period. Institutional investors and hedge funds own 72.05% of the company’s stock.
About Urban Outfitters
Urban Outfitters, Inc (Urban Outfitters) is a lifestyle retail company. The Company operates through two business segments: Retail and Wholesale. The Retail segment consists of the Company’s Urban Outfitters, Anthropologie Group, Free People and Terrain brands, whose merchandise is sold directly to the Company’s customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
To view Vetr’s full report, visit Vetr’s official website.
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