Urban Outfitters (NASDAQ:URBN) PT Lowered to $40.00

Urban Outfitters (NASDAQ:URBN) had its price objective decreased by equities research analysts at Wells Fargo & Company from $48.00 to $40.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the apparel retailer’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 8.61% from the company’s current price.

Several other equities research analysts also recently commented on URBN. Robert W. Baird boosted their target price on shares of Urban Outfitters from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 22nd. Barclays lowered their price objective on Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating for the company in a research note on Thursday. Morgan Stanley cut their target price on Urban Outfitters from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Thursday. Bank of America lowered their price target on Urban Outfitters from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Thursday. Finally, UBS Group upped their target price on shares of Urban Outfitters from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $42.30.

Urban Outfitters Stock Down 11.2 %

NASDAQ:URBN traded down $4.65 on Thursday, hitting $36.83. The stock had a trading volume of 4,257,231 shares, compared to its average volume of 1,665,250. Urban Outfitters has a 52 week low of $30.05 and a 52 week high of $48.90. The business’s fifty day moving average is $43.59 and its 200 day moving average is $42.19. The company has a market cap of $3.44 billion, a PE ratio of 11.77, a P/E/G ratio of 1.00 and a beta of 1.51.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Wednesday, August 21st. The apparel retailer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.26. Urban Outfitters had a net margin of 5.66% and a return on equity of 15.36%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm posted $1.10 EPS. Urban Outfitters’s revenue was up 6.3% compared to the same quarter last year. Equities analysts predict that Urban Outfitters will post 3.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Urban Outfitters

In other news, insider Azeez Hayne sold 13,967 shares of Urban Outfitters stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.78, for a total value of $583,541.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Urban Outfitters news, Director Harry S. Cherken, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $48.30, for a total value of $241,500.00. Following the completion of the transaction, the director now owns 565,296 shares in the company, valued at approximately $27,303,796.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Azeez Hayne sold 13,967 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.78, for a total value of $583,541.26. The disclosure for this sale can be found here. Corporate insiders own 31.80% of the company’s stock.

Hedge Funds Weigh In On Urban Outfitters

Several hedge funds have recently bought and sold shares of URBN. UniSuper Management Pty Ltd purchased a new position in Urban Outfitters during the first quarter worth about $537,000. Louisiana State Employees Retirement System purchased a new position in shares of Urban Outfitters during the fourth quarter worth about $1,010,000. Los Angeles Capital Management LLC bought a new position in shares of Urban Outfitters in the fourth quarter worth approximately $753,000. Harbor Capital Advisors Inc. raised its stake in Urban Outfitters by 287.4% in the second quarter. Harbor Capital Advisors Inc. now owns 46,300 shares of the apparel retailer’s stock valued at $1,901,000 after purchasing an additional 34,350 shares in the last quarter. Finally, Wesbanco Bank Inc. bought a new stake in Urban Outfitters during the second quarter valued at approximately $582,000. Hedge funds and other institutional investors 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.