Wall Street Zen Downgrades Urban Outfitters (NASDAQ:URBN) to Buy

Urban Outfitters (NASDAQ:URBN - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Sunday.

A number of other research analysts have also recently issued reports on URBN. JPMorgan Chase & Co. lifted their target price on shares of Urban Outfitters from $88.00 to $89.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Telsey Advisory Group lifted their target price on shares of Urban Outfitters from $72.00 to $80.00 and gave the company a "market perform" rating in a research note on Thursday, August 28th. Citigroup reiterated a "neutral" rating and issued a $76.00 target price (up previously from $75.00) on shares of Urban Outfitters in a research note on Wednesday, August 20th. Barclays reiterated an "overweight" rating and issued a $89.00 target price on shares of Urban Outfitters in a research note on Friday, August 29th. Finally, Bank of America lifted their target price on shares of Urban Outfitters from $90.00 to $93.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $81.91.

Urban Outfitters Stock Up 0.4%

NASDAQ:URBN opened at $67.77 on Friday. Urban Outfitters has a 12-month low of $35.03 and a 12-month high of $80.71. The firm has a market capitalization of $6.08 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 1.07 and a beta of 1.26. The firm has a 50-day moving average price of $71.00 and a 200 day moving average price of $67.85.

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

Insider Activity

In other news, CEO Tricia D. Smith sold 3,400 shares of the business's stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $69.77, for a total value of $237,218.00. Following the completion of the transaction, the chief executive officer owned 10,077 shares of the company's stock, valued at $703,072.29. The trade was a 25.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard A. Hayne sold 10,667 shares of the business's stock in a transaction on Friday, October 10th. The shares were sold at an average price of $70.46, for a total transaction of $751,596.82. Following the completion of the transaction, the chief executive officer directly owned 18,027,939 shares of the company's stock, valued at $1,270,248,581.94. This trade represents a 0.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,400 shares of company stock valued at $3,118,738 in the last quarter. Company insiders own 31.60% of the company's stock.

Hedge Funds Weigh In On Urban Outfitters

Several institutional investors and hedge funds have recently made changes to their positions in URBN. GAMMA Investing LLC grew its holdings in shares of Urban Outfitters by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 1,022 shares of the apparel retailer's stock valued at $54,000 after buying an additional 263 shares during the period. Janney Montgomery Scott LLC bought a new stake in Urban Outfitters in the 1st quarter valued at $1,094,000. Robeco Institutional Asset Management B.V. bought a new stake in Urban Outfitters in the 1st quarter valued at $1,677,000. Diversified Trust Co lifted its position in Urban Outfitters by 4.0% in the 1st quarter. Diversified Trust Co now owns 19,517 shares of the apparel retailer's stock valued at $1,023,000 after acquiring an additional 752 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in Urban Outfitters by 8.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 31,043 shares of the apparel retailer's stock valued at $1,627,000 after acquiring an additional 2,385 shares in the last quarter. Institutional investors and hedge funds own 77.61% of the company's stock.

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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