Urban Outfitters (NASDAQ:URBN) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Urban Outfitters (NASDAQ:URBN) from a buy rating to a hold rating in a research report report published on Monday morning,Wall Street Zen reports.

URBN has been the topic of several other research reports. Morgan Stanley reiterated an “overweight” rating and issued a $90.00 target price on shares of Urban Outfitters in a report on Thursday, August 27th. Bank of America raised their price target on Urban Outfitters from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Barclays lifted their price objective on Urban Outfitters from $100.00 to $102.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. Weiss Ratings raised Urban Outfitters from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 24th. Finally, The Goldman Sachs Group upgraded Urban Outfitters from a “neutral” rating to a “buy” rating and increased their target price for the company from $76.00 to $93.00 in a research note on Monday, July 20th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Urban Outfitters currently has a consensus rating of “Moderate Buy” and an average price target of $90.64.

Urban Outfitters Stock Performance

URBN opened at $78.75 on Monday. Urban Outfitters has a twelve month low of $59.53 and a twelve month high of $85.43. The business has a 50 day moving average price of $74.49 and a 200 day moving average price of $71.05. The firm has a market cap of $6.74 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings results on Wednesday, August 26th. The apparel retailer reported $1.72 EPS for the quarter, meeting analysts’ consensus estimates of $1.72. Urban Outfitters had a net margin of 8.79% and a return on equity of 18.64%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the firm posted $1.58 earnings per share. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, analysts anticipate that Urban Outfitters will post 6.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Urban Outfitters

Several hedge funds have recently made changes to their positions in the stock. Eurizon Capital SGR S.p.A. bought a new position in Urban Outfitters during the fourth quarter valued at about $27,000. Brown Brothers Harriman & Co. grew its holdings in shares of Urban Outfitters by 815.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer’s stock worth $28,000 after purchasing an additional 326 shares in the last quarter. Allworth Financial LP bought a new stake in shares of Urban Outfitters during the second quarter valued at approximately $31,000. Transamerica Financial Advisors LLC raised its stake in shares of Urban Outfitters by 566.7% in the fourth quarter. Transamerica Financial Advisors LLC now owns 440 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 374 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Urban Outfitters in the fourth quarter worth $33,000. Institutional investors own 77.61% of the company’s stock.

Urban Outfitters Company Profile

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city’s historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.