Urban Outfitters (NASDAQ:URBN) Stock Rating Lowered by Zacks Research

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

Several other research analysts also recently commented on the stock. Morgan Stanley raised their price target on shares of Urban Outfitters from $82.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Citigroup reaffirmed a “neutral” rating and set a $76.00 price target (up previously from $75.00) on shares of Urban Outfitters in a research note on Wednesday, August 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Urban Outfitters in a research note on Wednesday, October 8th. Bank of America raised their price objective on Urban Outfitters from $90.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Finally, UBS Group upped their target price on Urban Outfitters from $78.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Urban Outfitters presently has a consensus rating of “Hold” and a consensus price target of $81.91.

Urban Outfitters Trading Up 2.2%

NASDAQ URBN traded up $1.37 on Thursday, reaching $63.90. 1,555,891 shares of the stock were exchanged, compared to its average volume of 2,066,574. The firm has a market capitalization of $5.73 billion, a PE ratio of 12.48, a PEG ratio of 1.04 and a beta of 1.28. Urban Outfitters has a one year low of $36.48 and a one year high of $80.71. The company’s 50-day simple moving average is $69.08 and its two-hundred day simple moving average is $68.97.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Wednesday, August 27th. The apparel retailer reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.14. Urban Outfitters had a return on equity of 18.43% and a net margin of 8.15%.The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company earned $1.24 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. Sell-side analysts forecast that Urban Outfitters will post 3.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Urban Outfitters

A number of hedge funds have recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new stake in shares of Urban Outfitters during the 3rd quarter worth about $25,000. Hollencrest Capital Management acquired a new position in Urban Outfitters in the 2nd quarter valued at $26,000. Global Retirement Partners LLC raised its holdings in Urban Outfitters by 158.4% in the 3rd quarter. Global Retirement Partners LLC now owns 460 shares of the apparel retailer’s stock valued at $33,000 after acquiring an additional 282 shares during the last quarter. Cullen Frost Bankers Inc. lifted its stake in shares of Urban Outfitters by 180.2% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 468 shares of the apparel retailer’s stock worth $34,000 after purchasing an additional 301 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in shares of Urban Outfitters by 17,175.0% during the first quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer’s stock worth $36,000 after purchasing an additional 687 shares during the last quarter. Institutional investors and hedge funds 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.