Urban Outfitters (URBN) Given a $35.00 Price Target at SunTrust Banks
URBN has been the topic of a number of other research reports. J P Morgan Chase & Co upgraded shares of Urban Outfitters from a neutral rating to an overweight rating in a research report on Tuesday, November 21st. Royal Bank of Canada reiterated a hold rating and set a $21.00 price objective on shares of Urban Outfitters in a research report on Monday, September 18th. Wolfe Research upgraded shares of Urban Outfitters from a peer perform rating to an outperform rating and set a $30.00 price objective on the stock in a research report on Wednesday, November 15th. Deutsche Bank cut shares of Urban Outfitters from a hold rating to a sell rating and cut their price objective for the company from $23.00 to $19.00 in a research report on Tuesday, October 3rd. Finally, BMO Capital Markets set a $20.00 price objective on shares of Urban Outfitters and gave the company a hold rating in a research report on Monday, September 11th. Three equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $25.20.
Urban Outfitters (NASDAQ URBN) traded down $0.39 during mid-day trading on Monday, reaching $32.31. 2,715,400 shares of the company’s stock were exchanged, compared to its average volume of 3,442,139. Urban Outfitters has a fifty-two week low of $16.19 and a fifty-two week high of $34.00. The company has a market capitalization of $3,539.73, a PE ratio of 21.37, a price-to-earnings-growth ratio of 1.75 and a beta of 0.73.
Urban Outfitters declared that its board has approved a share buyback program on Thursday, August 24th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the apparel retailer to purchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
A number of large investors have recently added to or reduced their stakes in the stock. Shapiro Capital Management LLC lifted its stake in Urban Outfitters by 586.5% in the second quarter. Shapiro Capital Management LLC now owns 8,827,740 shares of the apparel retailer’s stock worth $163,666,000 after acquiring an additional 7,541,840 shares during the period. FMR LLC lifted its stake in Urban Outfitters by 2.4% in the second quarter. FMR LLC now owns 5,986,454 shares of the apparel retailer’s stock worth $110,988,000 after acquiring an additional 139,356 shares during the period. Dimensional Fund Advisors LP lifted its stake in Urban Outfitters by 32.9% in the third quarter. Dimensional Fund Advisors LP now owns 4,252,727 shares of the apparel retailer’s stock worth $101,640,000 after acquiring an additional 1,053,712 shares during the period. Bank of New York Mellon Corp lifted its stake in Urban Outfitters by 7.8% in the third quarter. Bank of New York Mellon Corp now owns 4,234,875 shares of the apparel retailer’s stock worth $101,215,000 after acquiring an additional 308,063 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its stake in Urban Outfitters by 4.0% in the second quarter. TIAA CREF Investment Management LLC now owns 2,167,501 shares of the apparel retailer’s stock worth $40,185,000 after acquiring an additional 83,414 shares during the period. 86.54% of the stock is owned by institutional investors.
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About Urban Outfitters
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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