Urban Outfitters, Inc. (NASDAQ:URBN – Get Rating) traded up 3% during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $20.00 to $23.00. The stock traded as high as $21.77 and last traded at $21.76. 32,937 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 2,263,349 shares. The stock had previously closed at $21.12.
A number of other research firms have also weighed in on URBN. Citigroup decreased their target price on shares of Urban Outfitters from $42.00 to $30.00 in a report on Monday, May 23rd. Morgan Stanley lowered shares of Urban Outfitters from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $34.00 to $25.00 in a report on Friday, May 27th. B. Riley lowered shares of Urban Outfitters from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $35.00 to $23.00 in a report on Friday, June 17th. BMO Capital Markets decreased their target price on shares of Urban Outfitters from $27.00 to $21.00 in a report on Wednesday, May 25th. Finally, UBS Group boosted their price target on shares of Urban Outfitters to $21.00 in a research note on Monday, August 29th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Urban Outfitters currently has a consensus rating of “Hold” and an average target price of $23.09.
Institutional Investors Weigh In On Urban Outfitters
Institutional investors have recently made changes to their positions in the business. US Bancorp DE boosted its stake in shares of Urban Outfitters by 323.2% in the 2nd quarter. US Bancorp DE now owns 1,477 shares of the apparel retailer’s stock valued at $27,000 after purchasing an additional 1,128 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Urban Outfitters by 148.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,533 shares of the apparel retailer’s stock valued at $29,000 after purchasing an additional 916 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of Urban Outfitters in the 2nd quarter valued at $101,000. Point72 Hong Kong Ltd purchased a new stake in shares of Urban Outfitters in the 4th quarter valued at $171,000. Finally, Virtu Financial LLC purchased a new stake in shares of Urban Outfitters in the 1st quarter valued at $202,000. Hedge funds and other institutional investors own 76.14% of the company’s stock.
Urban Outfitters Stock Performance
Urban Outfitters (NASDAQ:URBN – Get Rating) last announced its quarterly earnings results on Tuesday, August 23rd. The apparel retailer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.07). Urban Outfitters had a net margin of 4.70% and a return on equity of 12.81%. During the same quarter in the previous year, the firm posted $1.28 EPS. On average, analysts expect that Urban Outfitters, Inc. will post 1.72 EPS 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 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 casual 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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