Urban Outfitters (NASDAQ:URBN) Rating Lowered to “Hold” at Zacks Research

Urban Outfitters (NASDAQ:URBN) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

Several other brokerages have also 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 report on Thursday, August 28th. Barclays restated an “overweight” rating and issued a $89.00 price objective on shares of Urban Outfitters in a report on Friday, August 29th. Morgan Stanley lifted their target price on shares of Urban Outfitters from $82.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Wall Street Zen upgraded Urban Outfitters from a “buy” rating to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Telsey Advisory Group upped their price objective on Urban Outfitters from $72.00 to $80.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Urban Outfitters presently has an average rating of “Hold” and an average price target of $81.91.

Urban Outfitters Stock Up 2.2%

NASDAQ URBN opened at $63.90 on Thursday. The firm has a market cap of $5.73 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 1.04 and a beta of 1.28. The company’s 50 day moving average is $69.08 and its 200-day moving average is $68.97. Urban Outfitters has a 12-month low of $36.48 and a 12-month high of $80.71.

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

Insider Activity

In other Urban Outfitters news, CEO Tricia D. Smith sold 3,400 shares of the stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $69.77, for a total transaction of $237,218.00. Following the sale, the chief executive officer owned 10,077 shares of the company’s stock, valued at approximately $703,072.29. This trade represents a 25.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard A. Hayne sold 9,333 shares of the company’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $70.11, for a total value of $654,336.63. Following the transaction, the chief executive officer directly owned 2,430,722 shares in the company, valued at approximately $170,417,919.42. The trade was a 0.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 44,400 shares of company stock valued at $3,118,738. 31.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of URBN. Asset Management One Co. Ltd. lifted its position in shares of Urban Outfitters by 11.7% during the 2nd quarter. Asset Management One Co. Ltd. now owns 1,340 shares of the apparel retailer’s stock worth $97,000 after buying an additional 140 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Urban Outfitters by 1.6% in the third quarter. Nisa Investment Advisors LLC now owns 10,489 shares of the apparel retailer’s stock valued at $749,000 after acquiring an additional 164 shares during the last quarter. Diversified Trust Co grew its position in shares of Urban Outfitters by 0.9% during the 2nd quarter. Diversified Trust Co now owns 19,702 shares of the apparel retailer’s stock worth $1,429,000 after buying an additional 185 shares during the period. Maryland State Retirement & Pension System raised its position in shares of Urban Outfitters by 1.2% during the 2nd quarter. Maryland State Retirement & Pension System now owns 16,611 shares of the apparel retailer’s stock valued at $1,205,000 after acquiring an additional 198 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in Urban Outfitters by 2.0% during the first quarter. GSA Capital Partners LLP now owns 10,401 shares of the apparel retailer’s stock worth $545,000 after buying an additional 203 shares during the last quarter. 77.61% of the stock is owned by institutional investors and hedge funds.

About Urban Outfitters

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.