Urban Outfitters’ (URBN) “Hold” Rating Reaffirmed at Royal Bank Of Canada
Royal Bank Of Canada restated their hold rating on shares of Urban Outfitters, Inc. (NASDAQ:URBN) in a research report report published on Monday. Royal Bank Of Canada currently has a $21.00 price objective on the apparel retailer’s stock.
URBN has been the topic of a number of other research reports. BidaskClub upgraded shares of Urban Outfitters from a strong sell rating to a sell rating in a research report on Monday, July 31st. Morgan Stanley increased their target price on shares of Urban Outfitters from $17.00 to $19.00 and gave the stock an equal weight rating in a research report on Wednesday, August 16th. Wells Fargo & Company restated a market perform rating and set a $16.00 target price (down previously from $18.00) on shares of Urban Outfitters in a research report on Friday, June 9th. Telsey Advisory Group decreased their target price on shares of Urban Outfitters from $26.00 to $20.00 and set a market perform rating on the stock in a research report on Friday, June 9th. Finally, Bank of America Corporation set a $24.00 target price on shares of Urban Outfitters and gave the stock a buy rating in a research report on Wednesday, August 16th. Three investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and seven have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $22.20.
Shares of Urban Outfitters (NASDAQ URBN) opened at 22.68 on Monday. Urban Outfitters has a 52-week low of $16.19 and a 52-week high of $40.80. The company’s 50-day moving average price is $20.19 and its 200-day moving average price is $20.69. The firm has a market capitalization of $2.49 billion, a P/E ratio of 15.18 and a beta of 0.59.
Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Tuesday, August 15th. The apparel retailer reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.07. Urban Outfitters had a net margin of 4.92% and a return on equity of 13.61%. The business had revenue of $873.00 million for the quarter, compared to analyst estimates of $860.80 million. During the same quarter in the prior year, the business earned $0.66 EPS. Urban Outfitters’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research analysts expect that Urban Outfitters will post $1.41 EPS for the current fiscal year.
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Urban Outfitters announced that its Board of Directors has authorized a share buyback program on Thursday, August 24th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the apparel retailer to purchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Urban Outfitters by 9,872.9% in the 1st quarter. BlackRock Inc. now owns 13,405,864 shares of the apparel retailer’s stock worth $318,523,000 after acquiring an additional 13,271,441 shares during the last quarter. Shapiro Capital Management LLC raised its holdings in Urban Outfitters by 586.5% in the 2nd quarter. Shapiro Capital Management LLC now owns 8,827,740 shares of the apparel retailer’s stock worth $163,666,000 after purchasing an additional 7,541,840 shares in the last quarter. FMR LLC raised its holdings in Urban Outfitters by 2.4% in the 2nd quarter. FMR LLC now owns 5,986,454 shares of the apparel retailer’s stock worth $110,988,000 after purchasing an additional 139,356 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Urban Outfitters by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,926,812 shares of the apparel retailer’s stock worth $72,803,000 after purchasing an additional 10,249 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Urban Outfitters by 84.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,199,015 shares of the apparel retailer’s stock worth $59,310,000 after purchasing an additional 1,462,130 shares in the last quarter. Hedge funds and other institutional investors own 87.58% of the company’s stock.
Urban Outfitters Company Profile
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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