Short Interest in Urban Outfitters, Inc. (URBN) Decreases By 9.8%
Urban Outfitters, Inc. (NASDAQ:URBN) was the target of a large drop in short interest in the month of September. As of September 29th, there was short interest totalling 21,866,623 shares, a drop of 9.8% from the September 15th total of 24,246,575 shares. Currently, 30.0% of the shares of the stock are sold short. Based on an average daily volume of 2,214,506 shares, the days-to-cover ratio is presently 9.9 days.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in URBN. BlackRock Inc. increased its holdings in Urban Outfitters by 9,872.9% during the 1st quarter. BlackRock Inc. now owns 13,405,864 shares of the apparel retailer’s stock worth $318,523,000 after purchasing an additional 13,271,441 shares during the period. Shapiro Capital Management LLC increased its holdings in Urban Outfitters by 586.5% during the 2nd quarter. Shapiro Capital Management LLC now owns 8,827,740 shares of the apparel retailer’s stock worth $163,666,000 after purchasing an additional 7,541,840 shares during the period. Renaissance Technologies LLC purchased a new position in Urban Outfitters during the 1st quarter worth $48,801,000. Dimensional Fund Advisors LP increased its holdings in Urban Outfitters by 84.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,199,015 shares of the apparel retailer’s stock worth $59,310,000 after purchasing an additional 1,462,130 shares during the period. Finally, Victory Capital Management Inc. purchased a new position in Urban Outfitters during the 2nd quarter worth $23,205,000. Institutional investors own 87.58% of the company’s stock.
Several research analysts have commented on URBN shares. Royal Bank Of Canada set a $17.00 target price on Urban Outfitters and gave the stock a “hold” rating in a research note on Monday, July 17th. BidaskClub upgraded Urban Outfitters from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Morgan Stanley raised their price target on Urban Outfitters from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Wednesday, August 16th. Bank of America Corporation set a $24.00 price target on Urban Outfitters and gave the company a “buy” rating in a report on Wednesday, August 16th. Finally, BMO Capital Markets set a $20.00 price target on Urban Outfitters and gave the company a “hold” rating in a report on Monday, September 11th. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $22.24.
Shares of Urban Outfitters (URBN) opened at 22.19 on Friday. Urban Outfitters has a 52-week low of $16.19 and a 52-week high of $40.80. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 14.85 and a beta of 0.63. The company’s 50 day moving average price is $22.54 and its 200 day moving average price is $20.64.
Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings data on Tuesday, August 15th. The apparel retailer reported $0.44 EPS for the quarter, topping the consensus estimate of $0.37 by $0.07. The company had revenue of $873.00 million for the quarter, compared to the consensus estimate of $860.80 million. Urban Outfitters had a return on equity of 13.61% and a net margin of 4.92%. Urban Outfitters’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS. On average, analysts predict that Urban Outfitters will post $1.41 EPS for the current year.
Urban Outfitters declared that its board has approved a stock repurchase program on Thursday, August 24th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the apparel retailer to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
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Urban Outfitters Company Profile
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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