Wall Street Zen Downgrades Urban Outfitters (NASDAQ:URBN) to Hold

Urban Outfitters (NASDAQ:URBN) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Wall Street Zen reports.

A number of other analysts have also recently issued reports on URBN. Weiss Ratings raised Urban Outfitters from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 24th. The Goldman Sachs Group raised shares of Urban Outfitters from a “neutral” rating to a “buy” rating and lifted their price target for the company from $76.00 to $93.00 in a research note on Monday, July 20th. Wells Fargo & Company upped their price target on shares of Urban Outfitters from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, August 27th. Barclays increased their price objective on shares of Urban Outfitters from $100.00 to $102.00 and gave the stock an “overweight” rating in a research report on Thursday, August 27th. Finally, Bank of America raised their price objective on shares of Urban Outfitters from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Urban Outfitters has a consensus rating of “Moderate Buy” and an average price target of $90.64.

Urban Outfitters Trading Down 1.7%

URBN stock opened at $79.29 on Monday. Urban Outfitters has a 1-year low of $59.53 and a 1-year high of $85.43. The firm has a market cap of $6.79 billion, a PE ratio of 12.37, a P/E/G ratio of 1.27 and a beta of 1.26. The business’s 50-day moving average price is $74.37 and its two-hundred day moving average price is $70.98.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Wednesday, August 26th. The apparel retailer reported $1.72 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.72. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. Urban Outfitters had a return on equity of 18.64% and a net margin of 8.79%.The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.58 earnings per share. On average, analysts forecast that Urban Outfitters will post 6.15 earnings per share for the current year.

Institutional Investors Weigh In On Urban Outfitters

Institutional investors and hedge funds have recently made changes to their positions in the stock. Eurizon Capital SGR S.p.A. acquired a new position in Urban Outfitters during the fourth quarter worth $27,000. Brown Brothers Harriman & Co. lifted its stake in Urban Outfitters by 815.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer’s stock valued at $28,000 after acquiring an additional 326 shares during the last quarter. Allworth Financial LP bought a new position in shares of Urban Outfitters in the 2nd quarter valued at about $31,000. Transamerica Financial Advisors LLC grew its position in shares of Urban Outfitters by 566.7% in the 4th quarter. Transamerica Financial Advisors LLC now owns 440 shares of the apparel retailer’s stock valued at $33,000 after acquiring an additional 374 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Urban Outfitters during the 4th quarter worth about $33,000. 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.