Urban Outfitters, Inc. (NASDAQ:URBN) stock is 2.9% lower to trade at $36.94 this morning, following a bear note from Jefferies. The analyst downgraded the apparel retailer to "underperform" from "hold," while lowering its price target by $10 to $32, citing slowing foot traffic at the company's branded stores.
URBN is trading at its lowest level since Jan. 8, but the shares' 200-day moving average is keeping today's pullback in check. Over the last month, Urban Outfitters has shed nearly 15%, and is close to breaching its year-to-date breakeven level.
More analysts could follow suit, considering that heading into today, eight of the 11 brokerages in coverage maintain tepid "hold" ratings, with not a single "sell" on the books.
A premium-selling strategy could be the move for the retailer. URBN sports a Schaeffer's Volatility Scorecard (SVS) of 3 out of 100. In other words, both equities has consistently realized lower volatility than its options have priced in.
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