Telsey Advisory Group Raises Urban Outfitters (URBN) Price Target to $35.00
Urban Outfitters (NASDAQ:URBN) had its target price lifted by Telsey Advisory Group from $30.00 to $35.00 in a research report sent to investors on Tuesday morning, MarketBeat reports. Telsey Advisory Group currently has a market perform rating on the apparel retailer’s stock.
A number of other research analysts have also weighed in on the company. SunTrust Banks set a $35.00 price objective on Urban Outfitters and gave the company a buy rating in a report on Monday. Robert W. Baird restated a buy rating on shares of Urban Outfitters in a report on Friday, November 24th. Zacks Investment Research upgraded Urban Outfitters from a hold rating to a strong-buy rating and set a $34.00 price objective on the stock in a report on Thursday, November 23rd. Alere Financial restated a neutral rating and issued a $24.00 price objective (up previously from $19.00) on shares of Urban Outfitters in a report on Wednesday, November 22nd. Finally, B. Riley raised their price objective on Urban Outfitters from $19.00 to $24.00 and gave the company a neutral rating in a report on Tuesday, November 21st. Three equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $25.20.
Shares of Urban Outfitters (NASDAQ URBN) traded down $0.39 during mid-day trading on Tuesday, reaching $32.31. The company’s stock had a trading volume of 2,715,400 shares, compared to its average volume of 3,442,139. The stock has a market cap of $3,539.73, a price-to-earnings ratio of 21.37, a P/E/G ratio of 1.75 and a beta of 0.73. Urban Outfitters has a 12 month low of $16.19 and a 12 month high of $34.00.
Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings data on Monday, November 20th. The apparel retailer reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.08. The company had revenue of $892.77 million for the quarter, compared to analyst estimates of $860.64 million. Urban Outfitters had a return on equity of 13.34% and a net margin of 4.81%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS. equities analysts expect that Urban Outfitters will post 1.56 EPS for the current year.
Urban Outfitters declared that its board has approved a stock repurchase program on Thursday, August 24th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
Several hedge funds and other institutional investors have recently bought and sold shares of URBN. Sun Life Financial INC acquired a new stake in shares of Urban Outfitters during the 2nd quarter worth about $151,000. Pacad Investment Ltd. acquired a new stake in shares of Urban Outfitters during the 2nd quarter worth about $191,000. BT Investment Management Ltd acquired a new stake in shares of Urban Outfitters during the 2nd quarter worth about $196,000. Oppenheimer Asset Management Inc. increased its position in shares of Urban Outfitters by 0.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,691 shares of the apparel retailer’s stock worth $198,000 after purchasing an additional 43 shares during the last quarter. Finally, Invictus RG acquired a new stake in shares of Urban Outfitters during the 3rd quarter worth about $241,000. Institutional investors and hedge funds own 86.54% of the company’s stock.
About Urban Outfitters
Urban Outfitters, Inc is a lifestyle specialty retail company. The Company operates through two segments: Retail and Wholesale. The Company’s Retail segment consists of its Urban Outfitters, Anthropologie, Free People, Terrain and Bhldn brands, whose merchandise is sold to its customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
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