Several other research firms also recently weighed in on URBN. Citigroup downgraded Urban Outfitters from a buy rating to a neutral rating and lifted their target price for the stock from $36.00 to $40.00 in a research report on Monday, August 14th. Barclays lifted their price objective on Urban Outfitters from $45.00 to $47.00 and gave the company an overweight rating in a report on Wednesday, August 23rd. Telsey Advisory Group restated an outperform rating and issued a $42.00 price objective on shares of Urban Outfitters in a report on Wednesday. Robert W. Baird lifted their price objective on Urban Outfitters from $32.00 to $38.00 and gave the company a neutral rating in a report on Wednesday, August 23rd. Finally, Bank of America lifted their price objective on Urban Outfitters from $35.00 to $42.00 and gave the company a buy rating in a report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $35.92.
Urban Outfitters Stock Down 2.3 %
Urban Outfitters (NASDAQ:URBN – Get Free Report) last released its earnings results on Tuesday, August 22nd. The apparel retailer reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.21. Urban Outfitters had a return on equity of 12.51% and a net margin of 4.56%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the company earned $0.64 earnings per share. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities research analysts anticipate that Urban Outfitters will post 3.23 EPS for the current year.
Institutional Investors Weigh In On Urban Outfitters
A number of large investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in Urban Outfitters by 21.4% in the first quarter. BlackRock Inc. now owns 12,133,038 shares of the apparel retailer’s stock valued at $336,328,000 after buying an additional 2,138,104 shares during the last quarter. Shapiro Capital Management LLC boosted its position in Urban Outfitters by 4.6% in the first quarter. Shapiro Capital Management LLC now owns 9,472,995 shares of the apparel retailer’s stock valued at $237,867,000 after buying an additional 420,001 shares during the last quarter. Vanguard Group Inc. boosted its position in Urban Outfitters by 6.0% in the third quarter. Vanguard Group Inc. now owns 6,641,142 shares of the apparel retailer’s stock valued at $130,499,000 after buying an additional 376,130 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Urban Outfitters by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,438,112 shares of the apparel retailer’s stock valued at $213,294,000 after buying an additional 32,457 shares during the last quarter. Finally, State Street Corp boosted its position in Urban Outfitters by 2.4% in the first quarter. State Street Corp now owns 2,920,947 shares of the apparel retailer’s stock valued at $80,969,000 after buying an additional 68,609 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.
About Urban Outfitters
Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nully. 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.
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