Urban Outfitters, Inc. (NASDAQ:URBN – Get Free Report) shares gapped down prior to trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $48.00 to $40.00. The stock had previously closed at $41.48, but opened at $35.37. Wells Fargo & Company currently has an equal weight rating on the stock. Urban Outfitters shares last traded at $36.57, with a volume of 1,044,289 shares trading hands.
URBN has been the topic of a number of other research reports. Barclays decreased their price target on shares of Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday. Bank of America decreased their price target on shares of Urban Outfitters from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Thursday. Telsey Advisory Group downgraded shares of Urban Outfitters from an “outperform” rating to a “market perform” rating and cut their target price for the company from $49.00 to $44.00 in a research note on Thursday. UBS Group raised their target price on shares of Urban Outfitters from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Finally, BMO Capital Markets cut their target price on shares of Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Urban Outfitters presently has an average rating of “Hold” and a consensus target price of $42.30.
Insider Buying and Selling
In related news, Director Harry S. Cherken, Jr. sold 5,000 shares of Urban Outfitters stock in a transaction on Friday, July 12th. The shares were sold at an average price of $48.30, for a total transaction of $241,500.00. Following the sale, the director now owns 565,296 shares of the company’s stock, valued at approximately $27,303,796.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Azeez Hayne sold 13,967 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.78, for a total value of $583,541.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harry S. Cherken, Jr. sold 5,000 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $48.30, for a total transaction of $241,500.00. Following the completion of the sale, the director now directly owns 565,296 shares of the company’s stock, valued at approximately $27,303,796.80. The disclosure for this sale can be found here. 31.80% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Urban Outfitters
Several hedge funds and other institutional investors have recently modified their holdings of the stock. QRG Capital Management Inc. increased its position in shares of Urban Outfitters by 2.4% in the 2nd quarter. QRG Capital Management Inc. now owns 9,327 shares of the apparel retailer’s stock worth $383,000 after purchasing an additional 221 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of Urban Outfitters by 2.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 9,361 shares of the apparel retailer’s stock valued at $384,000 after buying an additional 258 shares during the period. Signaturefd LLC boosted its holdings in shares of Urban Outfitters by 15.5% in the 2nd quarter. Signaturefd LLC now owns 2,230 shares of the apparel retailer’s stock valued at $92,000 after buying an additional 299 shares during the period. Arizona State Retirement System boosted its holdings in shares of Urban Outfitters by 2.4% in the 2nd quarter. Arizona State Retirement System now owns 16,976 shares of the apparel retailer’s stock valued at $697,000 after buying an additional 401 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of Urban Outfitters by 89.7% in the 4th quarter. Parallel Advisors LLC now owns 882 shares of the apparel retailer’s stock valued at $31,000 after buying an additional 417 shares during the period. Institutional investors own 77.61% of the company’s stock.
Urban Outfitters Stock Performance
The company’s fifty day moving average price is $43.54 and its 200 day moving average price is $42.18. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 1.00 and a beta of 1.51.
Urban Outfitters (NASDAQ:URBN – Get Free Report) last posted its quarterly earnings results on Wednesday, August 21st. The apparel retailer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.00 by $0.24. Urban Outfitters had a net margin of 5.66% and a return on equity of 15.36%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the business posted $1.10 EPS. The company’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts expect that Urban Outfitters, Inc. will post 3.57 earnings per share for the current year.
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 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.