Urban Outfitters Inc. (URBN) Sees Large Volume Increase
Shares of Urban Outfitters Inc. (NASDAQ:URBN) saw an uptick in trading volume on Thursday . 3,185,724 shares traded hands during mid-day trading, an increase of 75% from the previous session’s volume of 1,815,951 shares.The stock last traded at $30.74 and had previously closed at $29.83.
Several brokerages recently commented on URBN. Deutsche Bank AG began coverage on shares of Urban Outfitters in a research note on Wednesday, April 27th. They issued a “hold” rating and a $33.00 price objective for the company. Royal Bank Of Canada reissued a “sector perform” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Urban Outfitters in a research note on Thursday, April 14th. Zacks Investment Research downgraded shares of Urban Outfitters from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. BMO Capital Markets reissued an “average” rating and issued a $28.00 price objective on shares of Urban Outfitters in a research note on Thursday, July 7th. Finally, Morgan Stanley raised shares of Urban Outfitters from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $28.01 to $32.00 in a research note on Friday, May 20th. They noted that the move was a valuation call. Twenty-three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $31.34.
The firm has a market capitalization of $3.57 billion and a PE ratio of 16.91. The firm has a 50 day moving average price of $28.87 and a 200 day moving average price of $28.56.
Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings data on Wednesday, May 18th. The apparel retailer reported $0.25 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. The business earned $762.58 million during the quarter. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. Equities research analysts predict that Urban Outfitters Inc. will post $1.94 earnings per share for the current year.
In other news, CFO Frank Conforti sold 3,300 shares of the stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $28.23, for a total value of $93,159.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
A number of large investors have recently added to or reduced their stakes in the company. BlackRock Advisors LLC raised its stake in Urban Outfitters by 581.0% in the fourth quarter. BlackRock Advisors LLC now owns 2,138,451 shares of the apparel retailer’s stock valued at $48,650,000 after buying an additional 1,824,456 shares in the last quarter. Bridgewater Associates LP raised its stake in Urban Outfitters by 345.2% in the fourth quarter. Bridgewater Associates LP now owns 723,439 shares of the apparel retailer’s stock valued at $16,458,000 after buying an additional 560,950 shares in the last quarter. Wells Fargo & Company MN raised its stake in Urban Outfitters by 43.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,737,359 shares of the apparel retailer’s stock valued at $39,525,000 after buying an additional 529,953 shares in the last quarter. Schroder Investment Management Group raised its stake in Urban Outfitters by 227.7% in the fourth quarter. Schroder Investment Management Group now owns 488,431 shares of the apparel retailer’s stock valued at $11,111,000 after buying an additional 339,392 shares in the last quarter. Finally, Coe Capital Management LLC purchased a new stake in Urban Outfitters during the fourth quarter valued at about $1,945,000.
Urban Outfitters, Inc (Urban Outfitters) is a lifestyle retail company. The Company operates through two business segments: Retail and Wholesale. The Retail segment consists of the Company’s Urban Outfitters, Anthropologie Group, Free People and Terrain brands, whose merchandise is sold directly to the Company’s customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
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