Urban Outfitters (URBN) Shares Gap Down to $33.71

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Urban Outfitters, Inc. (NASDAQ:URBN) shares gapped down prior to trading on Thursday . The stock had previously closed at $35.42, but opened at $33.71. Urban Outfitters shares last traded at $32.56, with a volume of 4197489 shares trading hands.

URBN has been the topic of a number of recent analyst reports. BidaskClub downgraded Urban Outfitters from a “buy” rating to a “hold” rating in a research note on Tuesday, September 18th. Wedbush reaffirmed a “hold” rating and set a $35.00 price target (down from $50.00) on shares of Urban Outfitters in a research note on Thursday, October 11th. Bank of America set a $50.00 price target on Urban Outfitters and gave the stock a “buy” rating in a research note on Tuesday, November 20th. ValuEngine downgraded Urban Outfitters from a “buy” rating to a “hold” rating in a research note on Friday, September 14th. Finally, B. Riley raised Urban Outfitters from a “neutral” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Tuesday, October 2nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $43.99.

The firm has a market capitalization of $3.63 billion, a P/E ratio of 19.53, a P/E/G ratio of 1.10 and a beta of 0.68.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings data on Monday, November 19th. The apparel retailer reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The firm had revenue of $973.50 million during the quarter, compared to analyst estimates of $967.82 million. Urban Outfitters had a return on equity of 20.65% and a net margin of 5.44%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. On average, equities analysts anticipate that Urban Outfitters, Inc. will post 2.73 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Mount Yale Investment Advisors LLC bought a new stake in Urban Outfitters during the 2nd quarter worth approximately $109,000. Point72 Hong Kong Ltd increased its holdings in Urban Outfitters by 145.5% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,600 shares of the apparel retailer’s stock worth $116,000 after purchasing an additional 1,541 shares in the last quarter. Stratos Wealth Partners LTD. bought a new stake in Urban Outfitters during the 3rd quarter worth approximately $149,000. Envestnet Asset Management Inc. increased its holdings in Urban Outfitters by 679.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,710 shares of the apparel retailer’s stock worth $166,000 after purchasing an additional 3,234 shares in the last quarter. Finally, Kovack Advisors Inc. bought a new stake in Urban Outfitters during the 3rd quarter worth approximately $202,000. 81.53% of the stock is owned by hedge funds and other institutional investors.

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About Urban Outfitters (NASDAQ:URBN)

Urban Outfitters, Inc, a lifestyle products and services company, engages in the retail and wholesale of general consumer products. The company retails women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28 under the Urban Outfitters brand; and women's casual apparel and accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty products for women aged 28 to 45 under the Anthropologie brand.

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