Wells Fargo & Co. reiterated their hold rating on shares of Urban Outfitters Inc. (NASDAQ:URBN) in a research note published on Wednesday morning. Wells Fargo & Co. currently has a $33.00 target price on the apparel retailer’s stock, up from their previous target price of $29.00.
A number of other equities analysts also recently issued reports on URBN. Royal Bank Of Canada lowered their price objective on Urban Outfitters from $32.00 to $29.00 and set a sector perform rating for the company in a research report on Friday, June 10th. Telsey Advisory Group lowered their price objective on Urban Outfitters from $35.00 to $31.00 and set a market perform rating for the company in a research report on Friday, June 10th. Guggenheim restated a buy rating on shares of Urban Outfitters in a research report on Friday, June 10th. Goldman Sachs Group Inc. restated a buy rating and set a $29.00 price objective (down from $30.00) on shares of Urban Outfitters in a research report on Friday, June 10th. Finally, Robert W. Baird restated a buy rating on shares of Urban Outfitters in a research report on Friday, June 10th. Twenty-two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Urban Outfitters currently has an average rating of Hold and a consensus target price of $35.63.
Urban Outfitters (NASDAQ:URBN) opened at 34.79 on Wednesday. The company’s 50-day moving average is $35.71 and its 200 day moving average is $30.91. Urban Outfitters has a 12 month low of $19.26 and a 12 month high of $37.82. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 17.91 and a beta of 0.91.
Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings data on Tuesday, August 16th. The apparel retailer reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.10. Urban Outfitters had a return on equity of 19.57% and a net margin of 6.63%. The company earned $890.57 million during the quarter, compared to the consensus estimate of $886.39 million. During the same period last year, the company earned $0.52 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. Equities analysts forecast that Urban Outfitters will post $2.06 earnings per share for the current fiscal year.
In other Urban Outfitters news, CFO Frank Conforti sold 4,000 shares of the business’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $37.42, for a total value of $149,680.00. Following the sale, the chief financial officer now directly owns 4,000 shares in the company, valued at $149,680. The sale was disclosed in a filing with the SEC, which is accessible through this link. 24.30% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of URBN. Norges Bank purchased a new stake in shares of Urban Outfitters during the fourth quarter valued at about $31,619,000. Chevy Chase Trust Holdings Inc. raised its stake in shares of Urban Outfitters by 4.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 73,254 shares of the apparel retailer’s stock valued at $2,424,000 after buying an additional 3,116 shares during the last quarter. CIBC World Markets Inc. purchased a new stake in shares of Urban Outfitters during the first quarter valued at about $379,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Urban Outfitters during the first quarter valued at about $425,000. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Urban Outfitters by 202.8% in the first quarter. TIAA CREF Investment Management LLC now owns 775,418 shares of the apparel retailer’s stock valued at $25,659,000 after buying an additional 519,303 shares during the last quarter. Hedge funds and other institutional investors own 72.05% of the company’s stock.
About Urban Outfitters
Urban Outfitters, Inc (Urban Outfitters) is a lifestyle retail company. The Company operates through two business segments: Retail and Wholesale. The Retail segment consists of the Company’s Urban Outfitters, Anthropologie Group, Free People and Terrain brands, whose merchandise is sold directly to the Company’s customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
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