Zacks Investment Research upgraded shares of Urban Outfitters (NASDAQ:URBN) from a hold rating to a buy rating in a report published on Friday morning. They currently have $36.00 target price on the apparel retailer’s stock.
According to Zacks, “Shares of Urban Outfitters, which have outperformed the industry in the past three months is likely to continue the bull run. We are upbeat on the company’s performance based on rise in sales during the holiday season. Its comparable retail segment net sales, including the comparable direct-to-consumer channel, gained 2%. Moreover, the company’s all three brands reported rise in comps for the November and December period. Further, new store openings, increase in direct penetration, growing wholesale operations and merchandising improvements bode well for the long term. Management is also making all possible efforts to enhance the performance of brands through store refurbishment and by bringing in more compelling assortments. However, management’s remark over gross margin, which is anticipated to decline year over year in the fourth quarter is a concern.”
Several other equities research analysts have also issued reports on URBN. Royal Bank of Canada reiterated a hold rating and issued a $21.00 price target on shares of Urban Outfitters in a research note on Monday, September 18th. Jefferies Group reiterated a buy rating and issued a $25.00 price target on shares of Urban Outfitters in a research note on Thursday, September 28th. Deutsche Bank lowered shares of Urban Outfitters from a hold rating to a sell rating and lowered their price target for the company from $23.00 to $19.00 in a research note on Tuesday, October 3rd. Robert W. Baird reiterated a buy rating and issued a $24.00 price target on shares of Urban Outfitters in a research note on Wednesday, November 1st. Finally, B. Riley reiterated a neutral rating on shares of Urban Outfitters in a research note on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $26.10.
Shares of Urban Outfitters (NASDAQ URBN) traded up $0.40 during mid-day trading on Friday, reaching $34.64. 2,149,986 shares of the company’s stock traded hands, compared to its average volume of 2,486,995. Urban Outfitters has a 12-month low of $16.19 and a 12-month high of $36.10. The firm has a market cap of $3,706.43, a price-to-earnings ratio of 23.09, a P/E/G ratio of 1.83 and a beta of 0.73.
Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings results on Monday, November 20th. The apparel retailer reported $0.41 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $892.77 million for the quarter, compared to analyst estimates of $860.64 million. During the same period in the previous year, the business earned $0.40 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. equities research analysts predict that Urban Outfitters will post 1.56 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the stock. Shapiro Capital Management LLC boosted its holdings in shares of 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 buying an additional 7,541,840 shares during the period. FMR LLC boosted its holdings in shares of Urban Outfitters by 2.4% during the 2nd quarter. FMR LLC now owns 5,986,454 shares of the apparel retailer’s stock worth $110,988,000 after buying an additional 139,356 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Urban Outfitters by 32.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,252,727 shares of the apparel retailer’s stock worth $101,640,000 after buying an additional 1,053,712 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Urban Outfitters by 7.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,234,875 shares of the apparel retailer’s stock worth $101,215,000 after buying an additional 308,063 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of Urban Outfitters by 4.0% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,167,501 shares of the apparel retailer’s stock worth $40,185,000 after buying an additional 83,414 shares during the period. 86.24% of the stock is owned by institutional investors and hedge funds.
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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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