Urban Outfitters (NASDAQ:URBN) Price Target Cut to $38.00

Urban Outfitters (NASDAQ:URBN) had its price objective reduced by investment analysts at Barclays from $53.00 to $38.00 in a note issued to investors on Thursday, The Fly reports. The firm presently has an “overweight” rating on the apparel retailer’s stock. Barclays‘s target price points to a potential upside of 34.99% from the stock’s previous close.

Several other equities analysts have also recently issued reports on URBN. JPMorgan Chase & Co. reduced their target price on Urban Outfitters from $41.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 4th. Morgan Stanley boosted their target price on Urban Outfitters from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, November 23rd. Robert W. Baird dropped their price target on Urban Outfitters from $40.00 to $36.00 in a research report on Wednesday. Telsey Advisory Group dropped their price target on Urban Outfitters from $47.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Citigroup upgraded Urban Outfitters from a “neutral” rating to a “buy” rating and dropped their price target for the company from $44.00 to $40.00 in a research report on Friday, October 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $39.50.

URBN opened at $28.15 on Thursday. Urban Outfitters has a 52-week low of $26.04 and a 52-week high of $42.10. The stock has a market capitalization of $2.76 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 0.46 and a beta of 1.55. The stock’s 50 day moving average price is $31.35 and its 200-day moving average price is $33.48.

Urban Outfitters (NASDAQ:URBN) last posted its earnings results on Monday, November 22nd. The apparel retailer reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.05. Urban Outfitters had a return on equity of 18.60% and a net margin of 6.93%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. The business’s revenue was up 16.7% compared to the same quarter last year. As a group, analysts forecast that Urban Outfitters will post 3.37 earnings per share for the current fiscal year.

In other Urban Outfitters news, CAO Azeez Hayne sold 1,100 shares of the business’s stock in a transaction on Wednesday, November 3rd. The stock was sold at an average price of $35.00, for a total value of $38,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 27.50% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Shapiro Capital Management LLC raised its stake in shares of Urban Outfitters by 35.3% in the third quarter. Shapiro Capital Management LLC now owns 8,698,955 shares of the apparel retailer’s stock worth $258,272,000 after purchasing an additional 2,271,175 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of Urban Outfitters by 45,491.5% in the third quarter. William Blair Investment Management LLC now owns 1,091,916 shares of the apparel retailer’s stock worth $32,419,000 after purchasing an additional 1,089,521 shares during the last quarter. Millennium Management LLC raised its stake in shares of Urban Outfitters by 1,729.5% in the third quarter. Millennium Management LLC now owns 846,489 shares of the apparel retailer’s stock worth $25,132,000 after purchasing an additional 800,221 shares during the last quarter. Turtle Creek Asset Management Inc. raised its stake in shares of Urban Outfitters by 28.4% in the third quarter. Turtle Creek Asset Management Inc. now owns 3,065,195 shares of the apparel retailer’s stock worth $91,006,000 after purchasing an additional 678,850 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Urban Outfitters by 631.1% in the second quarter. Goldman Sachs Group Inc. now owns 662,117 shares of the apparel retailer’s stock worth $27,293,000 after purchasing an additional 571,551 shares during the last quarter. 71.08% of the stock is currently owned by institutional investors and hedge funds.

Urban Outfitters Company Profile

Urban Outfitters, Inc engages in the operation of a general consumer product retail and wholesale business selling to customers through various channels including retail locations, websites, catalogs and mobile applications. It operates through the following segments: Retail, Wholesale and Subscription.

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