Urban Outfitters (NASDAQ:URBN) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Urban Outfitters (NASDAQ:URBN) from a buy rating to a hold rating in a research note released on Saturday.

Other analysts also recently issued reports about the stock. Zacks Research upgraded shares of Urban Outfitters from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. increased their price target on shares of Urban Outfitters from $94.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Morgan Stanley reissued an “overweight” rating and set a $89.00 price objective on shares of Urban Outfitters in a research note on Monday, July 6th. Weiss Ratings downgraded Urban Outfitters from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. Finally, Barclays cut their target price on Urban Outfitters from $102.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.55.

Urban Outfitters Stock Performance

NASDAQ URBN opened at $76.64 on Friday. The stock has a 50 day moving average price of $73.82 and a 200-day moving average price of $70.52. Urban Outfitters has a one year low of $59.53 and a one year high of $84.35. The company has a market capitalization of $6.56 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.44 and a beta of 1.23.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.18. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business posted $1.16 earnings per share. Urban Outfitters’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts predict that Urban Outfitters will post 6.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Melanie Marein-Efron sold 5,036 shares of Urban Outfitters stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $73.42, for a total transaction of $369,743.12. Following the completion of the sale, the chief financial officer owned 17,023 shares in the company, valued at $1,249,828.66. This trade represents a 22.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Azeez Hayne sold 8,733 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $73.18, for a total transaction of $639,080.94. The SEC filing for this sale provides additional information. Corporate insiders own 32.10% of the company’s stock.

Hedge Funds Weigh In On Urban Outfitters

Hedge funds have recently added to or reduced their stakes in the stock. Eurizon Capital SGR S.p.A. bought a new stake in shares of Urban Outfitters during the fourth quarter valued at approximately $27,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Urban Outfitters by 815.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer’s stock valued at $28,000 after purchasing an additional 326 shares during the period. Salomon & Ludwin LLC grew its stake in Urban Outfitters by 58.4% in the fourth quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 149 shares in the last quarter. Allworth Financial LP bought a new position in Urban Outfitters in the second quarter worth approximately $31,000. Finally, Transamerica Financial Advisors LLC increased its holdings in Urban Outfitters by 566.7% during the 4th quarter. Transamerica Financial Advisors LLC now owns 440 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 374 shares during the period. 77.61% of the stock is currently owned by institutional investors.

About Urban Outfitters

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city’s historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.