Urban Outfitters (NASDAQ:URBN) Upgraded at BMO Capital Markets

Key Points

• BMO Capital Markets upgraded Urban Outfitters to a “hold” rating. Analysts overall remain moderately bullish, with eight Buy ratings and seven Holds and an average price target of $89.75.
• Urban Outfitters reported quarterly EPS of $1.72, matching expectations, while revenue reached $1.66 billion and increased 10.4% year over year.
• The stock opened at $75.60, with a market capitalization of approximately $6.47 billion. Institutional investors own 77.61% of shares, while CFO Melanie Marein-Efron recently sold 5,700 shares.

Urban Outfitters (NASDAQ:URBN - Get Free Report) was upgraded by investment analysts at BMO Capital Markets to a "hold" rating in a report issued on Tuesday, Zacks reports.

A number of other analysts have also issued reports on the stock. Weiss Ratings lowered shares of Urban Outfitters from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday. Jefferies Financial Group lifted their price objective on shares of Urban Outfitters from $72.00 to $79.00 and gave the company a "hold" rating in a report on Wednesday, August 12th. Morgan Stanley reissued an "overweight" rating and issued a $90.00 price objective on shares of Urban Outfitters in a research report on Thursday, August 27th. Bank of America raised their target price on shares of Urban Outfitters from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, May 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Urban Outfitters from $97.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, August 18th. Eight investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $89.75.

Urban Outfitters Stock Performance

URBN opened at $75.60 on Tuesday. The stock's 50 day moving average price is $75.43 and its 200-day moving average price is $71.44. Urban Outfitters has a one year low of $59.53 and a one year high of $85.43. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 1.22 and a beta of 1.26.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last issued its quarterly earnings results on Thursday, August 27th. The apparel retailer reported $1.72 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.72. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. Urban Outfitters had a return on equity of 18.64% and a net margin of 8.79%.Urban Outfitters's quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the company earned $1.58 EPS. As a group, analysts predict that Urban Outfitters will post 6.16 earnings per share for the current fiscal year.

Insider Transactions at Urban Outfitters

In other Urban Outfitters news, CFO Melanie Marein-Efron sold 5,700 shares of the firm's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $80.75, for a total transaction of $460,275.00. Following the transaction, the chief financial officer owned 11,323 shares of the company's stock, valued at approximately $914,332.25. This trade represents a 33.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 32.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Urban Outfitters

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in Urban Outfitters during the second quarter valued at about $615,160,000. California State Teachers Retirement System raised its holdings in Urban Outfitters by 6,498.9% in the second quarter. California State Teachers Retirement System now owns 4,540,851 shares of the apparel retailer's stock worth $321,765,000 after purchasing an additional 4,472,039 shares in the last quarter. Abrams Bison Investments LLC bought a new position in Urban Outfitters in the fourth quarter worth about $127,114,000. Balyasny Asset Management L.P. boosted its holdings in shares of Urban Outfitters by 5,360.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 618,152 shares of the apparel retailer's stock valued at $44,155,000 after buying an additional 606,831 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Urban Outfitters in the 4th quarter worth approximately $44,191,000. 77.61% of the stock is currently owned by institutional investors.

About Urban Outfitters

Urban Outfitters, Inc is a lifestyle retail company that operates a portfolio of consumer brands serving younger and fashion-conscious customers. Its primary brands include Urban Outfitters, Anthropologie, Free People, FP Movement and Terrain, each offering a distinct combination of apparel, accessories, beauty products, home furnishings and related lifestyle merchandise.

The company also operates Nuuly, a clothing rental and subscription service, as well as food and beverage and hospitality concepts connected with select retail locations.

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