Urban Outfitters (NASDAQ:URBN) Lowered to Hold Rating by Wall Street Zen

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

A number of other research analysts also recently issued reports on the company. Weiss Ratings upgraded Urban Outfitters from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 24th. Bank of America increased their price objective on shares of Urban Outfitters from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Wells Fargo & Company raised their price objective on shares of Urban Outfitters from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, August 27th. Citigroup reaffirmed a “neutral” rating on shares of Urban Outfitters in a report on Friday. Finally, The Goldman Sachs Group upgraded Urban Outfitters from a “neutral” rating to a “buy” rating and increased their price target for the stock from $76.00 to $93.00 in a research note on Monday, July 20th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.64.

Urban Outfitters Price Performance

Shares of URBN stock opened at $80.69 on Monday. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.28 and a beta of 1.23. Urban Outfitters has a 1 year low of $59.53 and a 1 year high of $85.43. The firm has a fifty day moving average price of $74.20 and a 200-day moving average price of $70.91.

Urban Outfitters (NASDAQ:URBN) last released its earnings results on Wednesday, August 26th. The apparel retailer reported $1.72 earnings per share for the quarter, meeting the consensus estimate of $1.72. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. Urban Outfitters had a return on equity of 18.64% and a net margin of 8.79%.Urban Outfitters’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.58 earnings per share. Equities research analysts expect that Urban Outfitters will post 6.14 EPS for the current year.

Hedge Funds Weigh In On Urban Outfitters

Several institutional investors have recently bought and sold shares of the stock. Eurizon Capital SGR S.p.A. purchased a new stake in Urban Outfitters in the 4th quarter worth $27,000. Brown Brothers Harriman & Co. increased its holdings in shares of Urban Outfitters by 815.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer’s stock worth $28,000 after purchasing an additional 326 shares during the last quarter. Allworth Financial LP purchased a new stake in shares of Urban Outfitters in the second quarter worth about $31,000. Transamerica Financial Advisors LLC boosted its stake in Urban Outfitters by 566.7% during the fourth quarter. Transamerica Financial Advisors LLC now owns 440 shares of the apparel retailer’s stock valued at $33,000 after buying an additional 374 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Urban Outfitters in the 4th quarter worth approximately $33,000. 77.61% of the stock is owned by hedge funds and other institutional investors.

About Urban Outfitters

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.