Peregrine Capital Management LLC boosted its stake in Urban Outfitters, Inc. (NASDAQ:URBN) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 289,643 shares of the apparel retailer’s stock after purchasing an additional 5,871 shares during the period. Peregrine Capital Management LLC owned about 0.26% of Urban Outfitters worth $6,922,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Bank of Nova Scotia purchased a new position in shares of Urban Outfitters during the first quarter valued at approximately $251,000. Sun Life Financial INC purchased a new position in shares of Urban Outfitters during the second quarter valued at approximately $151,000. LS Investment Advisors LLC increased its stake in shares of Urban Outfitters by 12.5% during the second quarter. LS Investment Advisors LLC now owns 9,488 shares of the apparel retailer’s stock valued at $176,000 after buying an additional 1,052 shares during the period. Pacad Investment Ltd. purchased a new position in shares of Urban Outfitters during the second quarter valued at approximately $191,000. Finally, BT Investment Management Ltd purchased a new position in shares of Urban Outfitters during the second quarter valued at approximately $196,000. 87.22% of the stock is currently owned by institutional investors and hedge funds.
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URBN has been the topic of several research analyst reports. Deutsche Bank AG reissued a “hold” rating and set a $18.00 target price (down from $19.00) on shares of Urban Outfitters in a research note on Friday, August 11th. FBR & Co dropped their target price on Urban Outfitters from $24.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, August 15th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Urban Outfitters in a report on Tuesday, August 15th. Royal Bank Of Canada upped their price target on Urban Outfitters from $17.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 16th. Finally, BMO Capital Markets set a $20.00 target price on Urban Outfitters and gave the stock a “hold” rating in a research report on Tuesday, August 8th. Three analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Urban Outfitters currently has an average rating of “Hold” and a consensus price target of $22.47.
Shares of Urban Outfitters, Inc. (NASDAQ URBN) traded up $0.43 during trading on Friday, hitting $25.40. The company had a trading volume of 2,252,800 shares, compared to its average volume of 2,263,758. Urban Outfitters, Inc. has a 1 year low of $16.19 and a 1 year high of $40.80. The stock has a market cap of $2,826.54, a price-to-earnings ratio of 16.71, a PEG ratio of 1.53 and a beta of 0.62.
Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings data on Tuesday, August 15th. The apparel retailer reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.07. Urban Outfitters had a return on equity of 13.61% and a net margin of 4.92%. The company had revenue of $873.00 million during the quarter, compared to analyst estimates of $860.80 million. During the same period in the previous year, the business earned $0.66 EPS. Urban Outfitters’s quarterly revenue was down 2.0% on a year-over-year basis. equities research analysts anticipate that Urban Outfitters, Inc. will post 1.43 EPS for the current year.
Urban Outfitters announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 24th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
Urban Outfitters Profile
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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