Urban Outfitters (NASDAQ:URBN) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Urban Outfitters (NASDAQ:URBN) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Other analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of Urban Outfitters from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. The Goldman Sachs Group raised shares of Urban Outfitters from a “neutral” rating to a “buy” rating and raised their price target for the stock from $76.00 to $93.00 in a report on Monday, July 20th. Jefferies Financial Group lifted their price objective on shares of Urban Outfitters from $72.00 to $79.00 and gave the stock a “hold” rating in a research note on Wednesday. Morgan Stanley reissued an “overweight” rating and set a $89.00 price objective on shares of Urban Outfitters in a report on Monday, July 6th. Finally, Zacks Research raised Urban Outfitters from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.55.

Urban Outfitters Stock Performance

Shares of NASDAQ URBN opened at $77.81 on Friday. The company has a market cap of $6.66 billion, a PE ratio of 14.93, a P/E/G ratio of 1.44 and a beta of 1.23. The business has a 50-day simple moving average of $73.72 and a two-hundred day simple moving average of $70.46. Urban Outfitters has a fifty-two week low of $59.53 and a fifty-two week high of $84.35.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.18. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.16 earnings per share. On average, sell-side analysts predict that Urban Outfitters will post 6.13 earnings per share for the current fiscal year.

Insider Activity at Urban Outfitters

In other Urban Outfitters news, CFO Melanie Marein-Efron sold 5,036 shares of Urban Outfitters stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $73.42, for a total transaction of $369,743.12. Following the completion of the sale, the chief financial officer directly owned 17,023 shares in the company, valued at approximately $1,249,828.66. The trade was a 22.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Azeez Hayne sold 8,733 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $73.18, for a total transaction of $639,080.94. The SEC filing for this sale provides additional information. 32.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in URBN. BlackRock Inc. purchased a new stake in Urban Outfitters in the second quarter valued at $615,160,000. Dimensional Fund Advisors LP grew its position in Urban Outfitters by 8.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,313,938 shares of the apparel retailer’s stock worth $273,274,000 after purchasing an additional 338,622 shares during the period. Abrams Bison Investments LLC acquired a new stake in Urban Outfitters during the 4th quarter worth about $127,114,000. Geode Capital Management LLC raised its stake in shares of Urban Outfitters by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,507,027 shares of the apparel retailer’s stock valued at $113,434,000 after buying an additional 35,244 shares during the last quarter. Finally, Jupiter Asset Management Ltd. lifted its holdings in shares of Urban Outfitters by 33.8% in the 4th quarter. Jupiter Asset Management Ltd. now owns 1,297,452 shares of the apparel retailer’s stock valued at $97,646,000 after buying an additional 327,453 shares during the period. Hedge funds and other institutional investors own 77.61% of the company’s stock.

About Urban Outfitters

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city’s historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.