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 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 research firms recently weighed in on URBN. Deutsche Bank AG began coverage on shares of Urban Outfitters in a research report on Wednesday, April 27th. They set a “hold” rating and a $33.00 price objective for the company. Zacks Investment Research cut shares of Urban Outfitters from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. BMO Capital Markets reaffirmed an “average” rating and set a $28.00 price objective on shares of Urban Outfitters in a research report on Thursday, July 7th. Morgan Stanley raised shares of Urban Outfitters from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $28.01 to $32.00 in a research report on Friday, May 20th. They noted that the move was a valuation call. Finally, Royal Bank Of Canada dropped their target price on shares of Urban Outfitters from $32.00 to $29.00 and set a “sector perform” rating for the company in a report on Friday, June 10th. Twenty-three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $31.34.
The stock has a market capitalization of $3.59 billion and a P/E ratio of 16.99. The firm has a 50 day moving average of $28.98 and a 200 day moving average of $28.63.
Urban Outfitters (NASDAQ:URBN) last released its earnings results on Wednesday, May 18th. The apparel retailer reported $0.25 EPS for the quarter, hitting analysts’ consensus estimates of $0.25. The company earned $762.58 million during the quarter. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 earnings per share. On average, equities research analysts forecast 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 on Tuesday, May 24th. The stock was sold at an average price of $28.23, for a total value of $93,159.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Several large investors recently added to or reduced their stakes in the company. BlackRock Advisors LLC boosted 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 worth $48,650,000 after buying an additional 1,824,456 shares in the last quarter. Wells Fargo & Company MN boosted 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 worth $39,525,000 after buying an additional 529,953 shares in the last quarter. Bridgewater Associates LP boosted 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 worth $16,458,000 after buying an additional 560,950 shares in the last quarter. Coe Capital Management LLC bought a new stake in Urban Outfitters during the fourth quarter worth approximately $1,945,000. Finally, Systematic Financial Management LP boosted its stake in Urban Outfitters by 12.0% in the fourth quarter. Systematic Financial Management LP now owns 78,040 shares of the apparel retailer’s stock worth $1,775,000 after buying an additional 8,355 shares in the last quarter.
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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