Urban Outfitters (NASDAQ:URBN) Rating Lowered to Buy at Wall Street Zen

Urban Outfitters (NASDAQ:URBN) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Other equities research analysts have also issued research reports about the company. Bank of America increased their target price on Urban Outfitters from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. Morgan Stanley increased their target price on Urban Outfitters from $62.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, May 22nd. Barclays increased their target price on Urban Outfitters from $59.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, May 20th. Baird R W upgraded Urban Outfitters from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 11th. Finally, UBS Group increased their target price on Urban Outfitters from $54.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.00.

Urban Outfitters Price Performance

Shares of NASDAQ:URBN opened at $76.21 on Friday. The firm has a market capitalization of $6.83 billion, a PE ratio of 15.94, a P/E/G ratio of 1.31 and a beta of 1.44. The business has a 50-day moving average of $71.87 and a two-hundred day moving average of $60.20. Urban Outfitters has a 12 month low of $33.86 and a 12 month high of $78.22.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 EPS for the quarter, topping the consensus estimate of $0.81 by $0.35. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.29 billion. Urban Outfitters had a return on equity of 17.98% and a net margin of 7.91%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 earnings per share. As a group, research analysts anticipate that Urban Outfitters will post 3.91 earnings per share for the current year.

Insider Activity

In other Urban Outfitters news, CFO Melanie Marein-Efron sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $73.36, for a total transaction of $1,467,200.00. Following the completion of the sale, the chief financial officer owned 5,036 shares in the company, valued at $369,440.96. This trade represents a 79.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tricia D. Smith sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $70.52, for a total value of $317,340.00. Following the sale, the chief executive officer owned 13,477 shares of the company’s stock, valued at approximately $950,398.04. This trade represents a 25.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 159,156 shares of company stock worth $11,636,158 over the last quarter. Corporate insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Cullen Frost Bankers Inc. grew its position in shares of Urban Outfitters by 180.2% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 468 shares of the apparel retailer’s stock worth $34,000 after acquiring an additional 301 shares in the last quarter. Whipplewood Advisors LLC grew its position in shares of Urban Outfitters by 2,893.8% in the 1st quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer’s stock worth $25,000 after acquiring an additional 463 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Urban Outfitters by 17,175.0% in the 1st quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer’s stock worth $36,000 after acquiring an additional 687 shares in the last quarter. Virtus Advisers LLC acquired a new position in shares of Urban Outfitters in the 1st quarter worth approximately $46,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Urban Outfitters in the 1st quarter worth approximately $52,000. Institutional investors and hedge funds own 77.61% of the company’s stock.

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.