Urban Outfitters (URBN) Stock Price Down 1.4% on Analyst Downgrade

Urban Outfitters, Inc. (NASDAQ:URBN) dropped 1.4% on Thursday after MKM Partners lowered their price target on the stock to $28.00. MKM Partners currently has a neutral rating on the stock. Urban Outfitters traded as low as $24.06 and last traded at $24.00. Approximately 191,987 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 2,559,492 shares. The stock had previously closed at $24.34.

URBN has been the subject of several other research reports. ValuEngine cut Urban Outfitters from a “hold” rating to a “sell” rating in a research note on Saturday, February 2nd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $35.00 target price (down previously from $36.00) on shares of Urban Outfitters in a research note on Friday, February 8th. Deutsche Bank set a $33.00 target price on Urban Outfitters and gave the stock a “hold” rating in a research note on Friday, February 8th. Zacks Investment Research cut Urban Outfitters from a “hold” rating to a “sell” rating in a research note on Tuesday, February 12th. Finally, B. Riley decreased their target price on Urban Outfitters from $52.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, February 14th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. Urban Outfitters currently has a consensus rating of “Hold” and an average price target of $38.64.

In other Urban Outfitters news, COO Calvin Hollinger sold 23,813 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $29.13, for a total value of $693,672.69. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Frank Conforti sold 22,937 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $29.30, for a total value of $672,054.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,200 shares of company stock worth $3,237,851. Corporate insiders own 24.80% of the company’s stock.

Large investors have recently made changes to their positions in the business. Macquarie Group Ltd. lifted its holdings in shares of Urban Outfitters by 31.3% in the fourth quarter. Macquarie Group Ltd. now owns 67,129 shares of the apparel retailer’s stock valued at $2,229,000 after purchasing an additional 16,000 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Urban Outfitters by 73.1% in the fourth quarter. Stifel Financial Corp now owns 36,306 shares of the apparel retailer’s stock valued at $1,206,000 after purchasing an additional 15,327 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Urban Outfitters by 36.3% in the third quarter. Morgan Stanley now owns 439,308 shares of the apparel retailer’s stock valued at $17,967,000 after purchasing an additional 117,075 shares in the last quarter. Comerica Bank lifted its holdings in shares of Urban Outfitters by 1.3% in the fourth quarter. Comerica Bank now owns 49,939 shares of the apparel retailer’s stock valued at $1,600,000 after purchasing an additional 653 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Urban Outfitters by 252.5% in the fourth quarter. Bank of Montreal Can now owns 105,273 shares of the apparel retailer’s stock valued at $3,495,000 after purchasing an additional 75,409 shares in the last quarter. Institutional investors and hedge funds own 71.91% of the company’s stock.

The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 8.76, a P/E/G ratio of 0.93 and a beta of 0.53.

Urban Outfitters (NASDAQ:URBN) last posted its earnings results on Tuesday, May 21st. The apparel retailer reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.05. Urban Outfitters had a return on equity of 20.02% and a net margin of 7.31%. The company had revenue of $864.41 million for the quarter, compared to analyst estimates of $857.31 million. During the same quarter last year, the company earned $0.38 earnings per share. On average, equities analysts forecast that Urban Outfitters, Inc. will post 2.59 earnings per share for the current year.

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Urban Outfitters Company Profile (NASDAQ:URBN)

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates in two segments, Retail and wholesale. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's casual apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.

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