Urban Outfitters (NASDAQ:URBN) Downgraded to Hold Rating by Zacks Research

Urban Outfitters (NASDAQ:URBN) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other analysts also recently weighed in on the stock. Morgan Stanley increased their price target on shares of Urban Outfitters from $82.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Barclays restated an “overweight” rating and set a $89.00 target price on shares of Urban Outfitters in a report on Friday, August 29th. Wall Street Zen upgraded Urban Outfitters from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Urban Outfitters in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their price target on Urban Outfitters from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Urban Outfitters currently has an average rating of “Hold” and a consensus price target of $81.91.

Urban Outfitters Price Performance

Shares of Urban Outfitters stock opened at $63.90 on Thursday. Urban Outfitters has a 1-year low of $36.48 and a 1-year high of $80.71. The company has a market capitalization of $5.73 billion, a P/E ratio of 12.48, a PEG ratio of 1.04 and a beta of 1.28. The business’s fifty day moving average price is $69.08 and its two-hundred day moving average price is $68.97.

Urban Outfitters (NASDAQ:URBN) last released its earnings results on Wednesday, August 27th. The apparel retailer reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.14. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.43%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 EPS. On average, research analysts expect that Urban Outfitters will post 3.91 earnings per share for the current fiscal year.

Insider Transactions at Urban Outfitters

In related news, CEO Tricia D. Smith sold 3,400 shares of the stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $69.77, for a total value of $237,218.00. Following the transaction, the chief executive officer directly owned 10,077 shares in the company, valued at $703,072.29. This trade represents a 25.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Egan sold 1,000 shares of the firm’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $70.12, for a total transaction of $70,120.00. Following the completion of the transaction, the director directly owned 14,250 shares in the company, valued at $999,210. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 44,400 shares of company stock valued at $3,118,738 in the last 90 days. 31.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Urban Outfitters

Several large investors have recently added to or reduced their stakes in the business. Nuveen LLC purchased a new stake in shares of Urban Outfitters during the first quarter valued at approximately $43,769,000. Norges Bank purchased a new stake in shares of Urban Outfitters during the 2nd quarter valued at $55,429,000. Qube Research & Technologies Ltd raised its stake in shares of Urban Outfitters by 59.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,287,096 shares of the apparel retailer’s stock worth $93,366,000 after purchasing an additional 477,909 shares during the period. Marshall Wace LLP boosted its holdings in shares of Urban Outfitters by 150.5% in the 2nd quarter. Marshall Wace LLP now owns 617,527 shares of the apparel retailer’s stock worth $44,795,000 after buying an additional 371,058 shares during the last quarter. Finally, Boston Partners purchased a new stake in Urban Outfitters during the first quarter worth about $18,380,000. Institutional investors own 77.61% of the company’s stock.

Urban Outfitters Company Profile

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nuuly. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.