Allspring Global Investments Holdings LLC acquired a new stake in Urban Outfitters, Inc. (NASDAQ:URBN – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,483 shares of the apparel retailer’s stock, valued at approximately $314,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Creative Planning acquired a new position in Urban Outfitters in the 2nd quarter valued at about $262,000. Teacher Retirement System of Texas raised its stake in shares of Urban Outfitters by 16.9% during the second quarter. Teacher Retirement System of Texas now owns 39,707 shares of the apparel retailer’s stock worth $1,315,000 after purchasing an additional 5,745 shares during the last quarter. Diversified Trust Co acquired a new stake in shares of Urban Outfitters during the second quarter worth $384,000. Louisiana State Employees Retirement System grew its position in Urban Outfitters by 13.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 31,600 shares of the apparel retailer’s stock valued at $1,047,000 after buying an additional 3,700 shares during the last quarter. Finally, Sciencast Management LP acquired a new position in Urban Outfitters in the 2nd quarter valued at $377,000. 70.21% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
URBN has been the subject of several recent analyst reports. Robert W. Baird raised their target price on shares of Urban Outfitters from $32.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 23rd. StockNews.com cut Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company raised their price target on Urban Outfitters from $30.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, August 23rd. Barclays lifted their price target on Urban Outfitters from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, August 23rd. Finally, BMO Capital Markets raised their target price on Urban Outfitters from $31.00 to $35.00 and gave the company a “market perform” rating in a report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.92.
Urban Outfitters Trading Up 1.4 %
Shares of NASDAQ URBN opened at $35.40 on Friday. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 0.46 and a beta of 1.50. Urban Outfitters, Inc. has a 52 week low of $23.26 and a 52 week high of $37.81. The company’s 50-day moving average price is $33.17 and its 200 day moving average price is $32.68.
Urban Outfitters (NASDAQ:URBN – Get Free Report) last issued its quarterly earnings data on Tuesday, August 22nd. The apparel retailer reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.21. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Urban Outfitters had a net margin of 4.56% and a return on equity of 12.51%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 EPS. As a group, research analysts expect that Urban Outfitters, Inc. will post 3.21 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 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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