Urban Outfitters (NASDAQ:URBN) had its target price lifted by research analysts at Telsey Advisory Group from $30.00 to $35.00 in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a “market perform” rating on the apparel retailer’s stock. Telsey Advisory Group’s target price would indicate a potential upside of 6.77% from the stock’s current price.
Several other research analysts have also recently weighed in on URBN. FBR & Co decreased their price objective on shares of Urban Outfitters from $24.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, August 15th. Oppenheimer reissued a “hold” rating on shares of Urban Outfitters in a report on Tuesday, August 15th. Royal Bank of Canada boosted their price objective on shares of Urban Outfitters from $17.00 to $21.00 and gave the company a “sector perform” rating in a report on Wednesday, August 16th. Robert W. Baird set a $22.00 price objective on shares of Urban Outfitters and gave the company a “buy” rating in a report on Wednesday, August 16th. Finally, Goldman Sachs Group set a $18.00 price objective on shares of Urban Outfitters and gave the company a “sell” rating in a report on Wednesday, August 16th. Three investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $25.20.
Shares of Urban Outfitters (URBN) traded up $0.47 during trading on Tuesday, reaching $32.78. 4,128,993 shares of the company’s stock traded hands, compared to its average volume of 4,339,904. The stock has a market capitalization of $3,548.37, a PE ratio of 21.42, a PEG ratio of 1.75 and a beta of 0.73. Urban Outfitters has a twelve month low of $16.19 and a twelve month high of $34.00.
Urban Outfitters (NASDAQ:URBN) last issued its earnings results on Monday, November 20th. The apparel retailer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.08. Urban Outfitters had a net margin of 4.81% and a return on equity of 13.34%. The business had revenue of $892.77 million during the quarter, compared to analysts’ expectations of $860.64 million. During the same period in the previous year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. analysts predict that Urban Outfitters will post 1.56 earnings per share for the current year.
Urban Outfitters announced that its Board of Directors has approved a share buyback plan on Thursday, August 24th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the apparel retailer to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
A number of hedge funds have recently made changes to their positions in URBN. Shapiro Capital Management LLC increased its holdings in Urban Outfitters by 586.5% during the second quarter. Shapiro Capital Management LLC now owns 8,827,740 shares of the apparel retailer’s stock valued at $163,666,000 after buying an additional 7,541,840 shares during the last quarter. Senvest Management LLC bought a new position in shares of Urban Outfitters in the third quarter worth approximately $36,629,000. Dimensional Fund Advisors LP boosted its position in shares of Urban Outfitters by 84.2% in the second 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. Victory Capital Management Inc. bought a new position in shares of Urban Outfitters in the second quarter worth approximately $23,205,000. Finally, Lord Abbett & CO. LLC boosted its position in shares of Urban Outfitters by 59.2% in the second quarter. Lord Abbett & CO. LLC now owns 1,829,967 shares of the apparel retailer’s stock worth $33,928,000 after purchasing an additional 680,511 shares during the period. 86.54% 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.