Urban Outfitters, Inc. (NASDAQ:URBN) was the target of a significant decline in short interest in the month of September. As of September 29th, there was short interest totalling 21,866,623 shares, a decline of 9.8% from the September 15th total of 24,246,575 shares. Based on an average daily volume of 2,214,506 shares, the short-interest ratio is currently 9.9 days. Approximately 30.0% of the shares of the company are sold short.
Several research firms have issued reports on URBN. Royal Bank Of Canada reissued a “hold” rating and set a $21.00 price target on shares of Urban Outfitters in a report on Monday, September 18th. Deutsche Bank AG lowered Urban Outfitters from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $23.00 to $19.00 in a research note on Tuesday, October 3rd. Telsey Advisory Group upped their price objective on Urban Outfitters from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 16th. BMO Capital Markets set a $20.00 price objective on Urban Outfitters and gave the stock a “hold” rating in a research note on Monday, September 11th. Finally, Zacks Investment Research raised Urban Outfitters from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have issued a buy rating to the company. Urban Outfitters has a consensus rating of “Hold” and a consensus price target of $22.39.
Several hedge funds have recently modified their holdings of URBN. UBS Asset Management Americas Inc. raised its stake in shares of Urban Outfitters by 7.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 70,628 shares of the apparel retailer’s stock valued at $1,678,000 after acquiring an additional 4,725 shares during the period. Arizona State Retirement System increased its stake in Urban Outfitters by 68.3% during the 1st quarter. Arizona State Retirement System now owns 36,700 shares of the apparel retailer’s stock worth $872,000 after buying an additional 14,900 shares during the period. OppenheimerFunds Inc. increased its stake in Urban Outfitters by 3.1% during the 1st quarter. OppenheimerFunds Inc. now owns 837,313 shares of the apparel retailer’s stock worth $19,895,000 after buying an additional 24,819 shares during the period. Principal Financial Group Inc. increased its stake in Urban Outfitters by 67.9% during the 1st quarter. Principal Financial Group Inc. now owns 367,566 shares of the apparel retailer’s stock worth $8,733,000 after buying an additional 148,619 shares during the period. Finally, FMR LLC increased its stake in Urban Outfitters by 7.8% during the 1st quarter. FMR LLC now owns 5,847,098 shares of the apparel retailer’s stock worth $138,927,000 after buying an additional 424,156 shares during the period. 87.91% of the stock is currently owned by institutional investors and hedge funds.
Shares of Urban Outfitters (URBN) opened at 25.02 on Friday. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 16.75 and a beta of 0.63. Urban Outfitters has a one year low of $16.19 and a one year high of $40.80. The stock’s 50 day moving average price is $23.25 and its 200 day moving average price is $20.67.
Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Tuesday, August 15th. The apparel retailer reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.07. The company had revenue of $873.00 million for the quarter, compared to the consensus estimate of $860.80 million. Urban Outfitters had a net margin of 4.92% and a return on equity of 13.61%. Urban Outfitters’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 earnings per share. Analysts forecast that Urban Outfitters will post $1.43 earnings per share for the current year.
Urban Outfitters declared that its Board of Directors has approved a share buyback plan on Thursday, August 24th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
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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.
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