Urban Outfitters (NASDAQ:URBN) Price Target Cut to $38.00

Urban Outfitters (NASDAQ:URBN) had its price target reduced by stock analysts at Morgan Stanley from $40.00 to $38.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the apparel retailer’s stock. Morgan Stanley’s price objective would suggest a potential downside of 1.53% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. UBS Group increased their target price on Urban Outfitters from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Telsey Advisory Group lowered Urban Outfitters from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $49.00 to $44.00 in a research note on Thursday. StockNews.com downgraded shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. BMO Capital Markets dropped their price target on shares of Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating for the company in a research report on Thursday. Finally, Robert W. Baird raised their price target on shares of Urban Outfitters from $48.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, May 22nd. 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $42.30.

Urban Outfitters Stock Performance

Shares of URBN opened at $38.59 on Thursday. Urban Outfitters has a fifty-two week low of $30.05 and a fifty-two week high of $48.90. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 1.00 and a beta of 1.51. The firm has a 50 day moving average price of $43.43 and a 200-day moving average price of $42.15.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Wednesday, August 21st. The apparel retailer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.24. 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 period in the previous year, the firm posted $1.10 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts predict that Urban Outfitters will post 3.57 earnings per share for the current year.

Insider Activity

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. UniSuper Management Pty Ltd purchased a new stake in Urban Outfitters in 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 valued at approximately $1,010,000. Los Angeles Capital Management LLC bought a new stake in shares of Urban Outfitters in the 4th quarter worth approximately $753,000. Harbor Capital Advisors Inc. grew its stake in shares of Urban Outfitters by 287.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 46,300 shares of the apparel retailer’s stock worth $1,901,000 after buying an additional 34,350 shares during the last quarter. Finally, Wesbanco Bank Inc. bought a new position in Urban Outfitters during the 2nd quarter valued at approximately $582,000. 77.61% of the stock is owned by hedge funds and other institutional investors.

About Urban Outfitters

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.