Urban Outfitters (NASDAQ:URBN) Lowered to "Buy" Rating by Wall Street Zen

Key Points

• Urban Outfitters has been downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, impacting investor sentiment.
• Despite the downgrade, several brokerages have raised their price targets on the stock, with Bank of America setting a new target of $93.00.
• The company reported $1.58 EPS for the latest quarter, exceeding analysts' expectations of $1.44, and showing an 11.3% increase in year-over-year revenue.

Urban Outfitters (NASDAQ:URBN - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Sunday.

Several other brokerages also recently weighed in on URBN. Bank of America boosted their target price on Urban Outfitters from $90.00 to $93.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Citigroup restated a "neutral" rating and issued a $76.00 price objective (up from $75.00) on shares of Urban Outfitters in a research note on Wednesday, August 20th. Morgan Stanley lifted their price objective on Urban Outfitters from $82.00 to $84.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Wells Fargo & Company boosted their price objective on Urban Outfitters from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 28th. Finally, Jefferies Financial Group upgraded shares of Urban Outfitters from an "underperform" rating to a "hold" rating and boosted their target price for the company from $50.00 to $70.00 in a research note on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $81.91.

Urban Outfitters Stock Up 2.4%

URBN opened at $73.00 on Friday. The business has a 50 day moving average of $73.95 and a 200-day moving average of $65.07. The stock has a market cap of $6.55 billion, a PE ratio of 14.26, a PEG ratio of 1.16 and a beta of 1.29. Urban Outfitters has a 52 week low of $34.76 and a 52 week high of $80.71.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last issued its earnings results on Wednesday, August 27th. The apparel retailer reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.14. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.48 billion. Urban Outfitters had a return on equity of 18.43% and a net margin of 8.15%.Urban Outfitters's revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.24 EPS. Equities analysts anticipate that Urban Outfitters will post 3.91 EPS for the current year.

Insider Activity

In other Urban Outfitters news, Director Mary Egan sold 1,000 shares of the company's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $70.12, for a total transaction of $70,120.00. Following the sale, the director directly owned 14,250 shares of the company's stock, valued at approximately $999,210. This represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 31.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Urban Outfitters

Several large investors have recently bought and sold shares of the stock. Corient Private Wealth LLC bought a new stake in Urban Outfitters during the second quarter worth about $214,000. Osaic Holdings Inc. lifted its position in shares of Urban Outfitters by 277.2% during the second quarter. Osaic Holdings Inc. now owns 6,741 shares of the apparel retailer's stock worth $489,000 after purchasing an additional 4,954 shares during the last quarter. Orion Porfolio Solutions LLC raised its holdings in Urban Outfitters by 27.5% in the second quarter. Orion Porfolio Solutions LLC now owns 22,953 shares of the apparel retailer's stock worth $1,665,000 after purchasing an additional 4,956 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Urban Outfitters by 7.8% during the second quarter. Thrivent Financial for Lutherans now owns 44,581 shares of the apparel retailer's stock valued at $3,234,000 after buying an additional 3,236 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in Urban Outfitters in the second quarter valued at $368,000. 77.61% of the stock is currently owned by institutional investors.

Urban Outfitters Company Profile

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nuuly. 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 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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