Zacks Investment Research Downgrades Urban Outfitters (URBN) to Hold

Urban Outfitters (NASDAQ:URBN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Saturday.

According to Zacks, “Shares of Urban Outfitters, which have outperformed the industry in the past three months is likely to continue the bull run. We are upbeat on the company’s performance based on better-than-expected third-quarter fiscal 2018 results. The fact that its brands are well placed for holiday season compared with the prior year further bolsters our optimism. Moreover, the big take away from the third quarter was, that it’s all three brands reported rise in comps for the first time in two years. Further, new store openings, increase in direct penetration, growing wholesale operations and merchandising improvements bode well for the long term. Management is also making all possible efforts to enhance the performance of brands through store refurbishment and by bringing in more compelling assortments. However, management’s remark over gross margin, which is anticipated to decline year over year in the fourth quarter is a concern.”

Several other equities analysts have also issued reports on URBN. Telsey Advisory Group upped their price target on Urban Outfitters from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, January 2nd. Robert W. Baird set a $39.00 price target on Urban Outfitters and gave the company a “buy” rating in a research note on Friday, December 22nd. Jefferies Group reaffirmed a “buy” rating and set a $40.00 price target on shares of Urban Outfitters in a research note on Monday, December 18th. KeyCorp reaffirmed a “buy” rating on shares of Urban Outfitters in a research note on Friday, December 15th. Finally, Wolfe Research upped their price target on Urban Outfitters from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Tuesday, December 12th. Three analysts have rated the stock with a sell rating, twenty-one have given a hold rating and eleven have issued a buy rating to the company’s stock. Urban Outfitters has an average rating of “Hold” and an average price target of $25.63.

Shares of Urban Outfitters (NASDAQ URBN) opened at $34.26 on Friday. The company has a market capitalization of $3,708.58, a price-to-earnings ratio of 22.84, a PEG ratio of 1.83 and a beta of 0.73. Urban Outfitters has a 1-year low of $16.19 and a 1-year high of $36.10.

Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Monday, November 20th. The apparel retailer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.33 by $0.08. The company had revenue of $892.77 million for the quarter, compared to analysts’ expectations of $860.64 million. Urban Outfitters had a return on equity of 13.34% and a net margin of 4.81%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. equities analysts forecast that Urban Outfitters will post 1.56 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of URBN. Shapiro Capital Management LLC grew its holdings in shares of Urban Outfitters by 586.5% during the second quarter. Shapiro Capital Management LLC now owns 8,827,740 shares of the apparel retailer’s stock worth $163,666,000 after buying an additional 7,541,840 shares in the last quarter. Senvest Management LLC bought a new position in Urban Outfitters in the third quarter valued at approximately $36,629,000. Dimensional Fund Advisors LP grew its stake in Urban Outfitters by 84.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,199,015 shares of the apparel retailer’s stock valued at $59,310,000 after purchasing an additional 1,462,130 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in Urban Outfitters by 59.2% in the second quarter. Lord Abbett & CO. LLC now owns 1,829,967 shares of the apparel retailer’s stock valued at $33,928,000 after purchasing an additional 680,511 shares in the last quarter. Finally, Majedie Asset Management Ltd bought a new position in Urban Outfitters in the third quarter valued at approximately $11,960,000. Institutional investors and hedge funds own 86.24% of the company’s stock.

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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.

Analyst Recommendations for Urban Outfitters (NASDAQ:URBN)

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