Morgan Stanley Raises Urban Outfitters, Inc. (URBN) Price Target to $19.00
Urban Outfitters, Inc. (NASDAQ:URBN) had its price objective hoisted by equities research analysts at Morgan Stanley from $17.00 to $19.00 in a research note issued to investors on Wednesday. The brokerage presently has an “equal weight” rating on the apparel retailer’s stock. Morgan Stanley’s price target would indicate a potential downside of 3.85% from the company’s current price.
Several other brokerages also recently commented on URBN. Deutsche Bank AG reiterated a “hold” rating and set a $18.00 price target (down from $19.00) on shares of Urban Outfitters in a report on Friday, August 11th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Urban Outfitters in a report on Tuesday. FBR & Co cut their price target on shares of Urban Outfitters from $24.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday. Royal Bank Of Canada set a $22.00 price target on shares of Urban Outfitters and gave the company a “hold” rating in a report on Monday, May 15th. Finally, UBS AG reiterated a “neutral” rating and set a $21.00 price target (down from $25.00) on shares of Urban Outfitters in a report on Wednesday, May 17th. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.00.
Urban Outfitters (NASDAQ:URBN) traded up 17.48% on Wednesday, reaching $19.76. The company’s stock had a trading volume of 32,637,662 shares. The firm’s 50-day moving average price is $18.44 and its 200 day moving average price is $21.65. Urban Outfitters has a 52-week low of $16.19 and a 52-week high of $40.80. The company has a market cap of $2.29 billion, a P/E ratio of 11.54 and a beta of 0.66. Urban Outfitters also saw some unusual options trading activity on Monday. Stock investors bought 32,160 put options on the stock. This represents an increase of 763% compared to the typical daily volume of 3,727 put options.
Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings results on Tuesday, August 15th. The apparel retailer reported $0.44 EPS for the quarter, beating the consensus estimate of $0.37 by $0.07. The company had revenue of $873 million for the quarter, compared to the consensus estimate of $860.80 million. Urban Outfitters had a net margin of 5.66% and a return on equity of 15.88%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 EPS. Equities analysts anticipate that Urban Outfitters will post $1.37 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of URBN. Janus Capital Management boosted its position in Urban Outfitters by 8.5% in the third quarter. Janus Capital Management now owns 148,584 shares of the apparel retailer’s stock worth $4,365,000 after buying an additional 11,642 shares in the last quarter. Capstone Asset Management Company bought a new position in Urban Outfitters during the fourth quarter worth about $608,000. PGGM Investments boosted its position in Urban Outfitters by 0.4% in the fourth quarter. PGGM Investments now owns 606,237 shares of the apparel retailer’s stock worth $13,792,000 after buying an additional 2,286 shares in the last quarter. BTIM Corp. bought a new position in Urban Outfitters during the fourth quarter worth about $4,912,000. Finally, Prescott Group Capital Management L.L.C. bought a new position in Urban Outfitters during the fourth quarter worth about $1,922,000. 83.99% of the stock is owned by institutional investors and hedge funds.
About Urban Outfitters
Urban Outfitters, Inc is a lifestyle specialty retail company. The Company operates through two segments: Retail and Wholesale. The Company’s Retail segment consists of its Urban Outfitters, Anthropologie, Free People, Terrain and Bhldn brands, whose merchandise is sold to its customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
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