Urban Outfitters (NASDAQ:URBN) Downgraded to Hold Rating by Wall Street Zen

Urban Outfitters (NASDAQ:URBN) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other equities research analysts have also issued reports on the company. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $98.00 price target on shares of Urban Outfitters in a research report on Thursday, February 26th. Bank of America boosted their price objective on Urban Outfitters from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Wells Fargo & Company cut their target price on shares of Urban Outfitters from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 26th. JPMorgan Chase & Co. raised their target price on shares of Urban Outfitters from $94.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $72.00 price target on shares of Urban Outfitters in a research note on Thursday, May 21st. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Urban Outfitters has a consensus rating of “Moderate Buy” and an average price target of $87.18.

Urban Outfitters Stock Performance

Urban Outfitters stock opened at $76.42 on Friday. The firm has a market capitalization of $6.54 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.44 and a beta of 1.22. Urban Outfitters has a twelve month low of $59.53 and a twelve month high of $84.35. The stock’s fifty day simple moving average is $72.00 and its 200-day simple moving average is $71.36.

Urban Outfitters (NASDAQ:URBN) last released its earnings results on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.18. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the business posted $1.16 earnings per share. Urban Outfitters’s revenue was up 11.4% compared to the same quarter last year. Sell-side analysts predict that Urban Outfitters will post 6.01 earnings per share for the current year.

Insider Transactions at Urban Outfitters

In related news, CFO Melanie Marein-Efron sold 5,036 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $73.42, for a total value of $369,743.12. Following the completion of the transaction, the chief financial officer directly owned 17,023 shares of the company’s stock, valued at $1,249,828.66. This represents a 22.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Azeez Hayne sold 8,733 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $73.18, for a total value of $639,080.94. The SEC filing for this sale provides additional information. Corporate insiders own 32.10% of the company’s stock.

Institutional Trading of Urban Outfitters

Several institutional investors have recently modified their holdings of the stock. Maryland State Retirement & Pension System raised its stake in shares of Urban Outfitters by 1.9% during the 4th quarter. Maryland State Retirement & Pension System now owns 7,880 shares of the apparel retailer’s stock worth $593,000 after buying an additional 148 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in shares of Urban Outfitters by 58.4% in the fourth quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer’s stock valued at $31,000 after buying an additional 149 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Urban Outfitters by 8.0% in the fourth quarter. GAMMA Investing LLC now owns 2,088 shares of the apparel retailer’s stock valued at $157,000 after buying an additional 154 shares in the last quarter. Oliver Luxxe Assets LLC boosted its stake in shares of Urban Outfitters by 0.5% in the fourth quarter. Oliver Luxxe Assets LLC now owns 33,774 shares of the apparel retailer’s stock valued at $2,542,000 after buying an additional 181 shares in the last quarter. Finally, Lido Advisors LLC grew its holdings in Urban Outfitters by 2.7% during the fourth quarter. Lido Advisors LLC now owns 7,367 shares of the apparel retailer’s stock worth $533,000 after acquiring an additional 193 shares during the period. Hedge funds and other institutional investors own 77.61% of the company’s stock.

About Urban Outfitters

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city’s historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.