BlackRock Inc. reduced its position in Urban Outfitters, Inc. (NASDAQ:URBN) by 11.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,838,055 shares of the apparel retailer’s stock after selling 1,567,809 shares during the quarter. BlackRock Inc. owned approximately 10.22% of Urban Outfitters worth $219,475,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. LS Investment Advisors LLC boosted its stake in shares of Urban Outfitters by 12.5% in the 2nd quarter. LS Investment Advisors LLC now owns 9,488 shares of the apparel retailer’s stock valued at $176,000 after buying an additional 1,052 shares during the period. Pacad Investment Ltd. purchased a new stake in Urban Outfitters during the second quarter worth approximately $191,000. Oppenheimer Asset Management Inc. lifted its stake in Urban Outfitters by 0.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 10,691 shares of the apparel retailer’s stock worth $198,000 after purchasing an additional 43 shares during the last quarter. Miles Capital Inc. increased its position in Urban Outfitters by 0.8% during the first quarter. Miles Capital Inc. now owns 8,470 shares of the apparel retailer’s stock worth $201,000 after buying an additional 70 shares during the period. Finally, ING Groep NV acquired a new position in Urban Outfitters during the second quarter worth approximately $206,000. 87.56% of the stock is owned by institutional investors.
Several research analysts have commented on the company. Deutsche Bank AG lowered Urban Outfitters from a “hold” rating to a “sell” rating and cut their price target for the stock from $23.00 to $19.00 in a research report on Tuesday, October 3rd. Jefferies Group LLC reissued a “buy” rating and issued a $25.00 target price on shares of Urban Outfitters in a report on Thursday, September 28th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $21.00 price objective on shares of Urban Outfitters in a report on Monday, September 18th. BidaskClub raised Urban Outfitters from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, BMO Capital Markets set a $20.00 price objective on Urban Outfitters and gave the stock a “hold” rating in a report on Monday, September 11th. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and seven have assigned a buy rating to the stock. Urban Outfitters has an average rating of “Hold” and an average price target of $22.24.
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Urban Outfitters, Inc. (NASDAQ URBN) opened at 22.94 on Tuesday. Urban Outfitters, Inc. has a 52 week low of $16.19 and a 52 week high of $40.80. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 15.35 and a beta of 0.62. The company has a 50-day moving average of $22.64 and a 200-day moving average of $20.59.
Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Tuesday, August 15th. The apparel retailer reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.07. Urban Outfitters had a net margin of 4.92% and a return on equity of 13.61%. The firm had revenue of $873.00 million during the quarter, compared to the consensus estimate of $860.80 million. During the same period in the previous year, the firm posted $0.66 earnings per share. The business’s revenue was down 2.0% compared to the same quarter last year. On average, equities analysts forecast that Urban Outfitters, Inc. will post $1.41 earnings per share for the current fiscal year.
Urban Outfitters announced that its board has authorized a stock repurchase plan on Thursday, August 24th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the apparel retailer to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
Urban Outfitters Profile
Urban Outfitters, Inc is a lifestyle specialty retail company. The Company operates through two segments: Retail and Wholesale. The Company’s Retail segment consists of its Urban Outfitters, Anthropologie, Free People, Terrain and Bhldn brands, whose merchandise is sold to its customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
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