Equities research analysts forecast that Urban Outfitters, Inc. (NASDAQ:URBN) will post sales of $857.48 million for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for Urban Outfitters’ earnings, with the lowest sales estimate coming in at $842.80 million and the highest estimate coming in at $869.60 million. Urban Outfitters reported sales of $862.49 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.6%. The business is scheduled to issue its next earnings report after the market closes on Monday, November 20th.
On average, analysts expect that Urban Outfitters will report full year sales of $857.48 million for the current year, with estimates ranging from $3.48 billion to $3.54 billion. For the next financial year, analysts anticipate that the firm will post sales of $3.61 billion per share, with estimates ranging from $3.52 billion to $3.69 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Urban Outfitters.
A number of analysts have weighed in on URBN shares. Wolfe Research upgraded Urban Outfitters from a “peer perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research report on Wednesday. Buckingham Research increased their target price on Urban Outfitters from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, November 14th. B. Riley reaffirmed a “neutral” rating on shares of Urban Outfitters in a research note on Wednesday, November 1st. Zacks Investment Research lowered Urban Outfitters from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Finally, Robert W. Baird reissued a “buy” rating and issued a $24.00 target price on shares of Urban Outfitters in a research note on Wednesday, November 1st. Three equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $23.03.
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Shares of Urban Outfitters (NASDAQ URBN) opened at $27.90 on Friday. The stock has a market capitalization of $3,060.00, a P/E ratio of 16.51, a PEG ratio of 1.52 and a beta of 0.62. Urban Outfitters has a 1 year low of $16.19 and a 1 year high of $39.29.
Urban Outfitters declared that its Board of Directors has initiated a stock 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 buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
Institutional investors and hedge funds have recently modified their holdings of the company. Sun Life Financial INC bought a new position in shares of Urban Outfitters in the 2nd quarter valued at $151,000. LS Investment Advisors LLC grew its position in Urban Outfitters by 12.5% during the 2nd quarter. LS Investment Advisors LLC now owns 9,488 shares of the apparel retailer’s stock worth $176,000 after acquiring an additional 1,052 shares during the last quarter. Invictus RG bought a new stake in Urban Outfitters during the 3rd quarter worth $241,000. Pacad Investment Ltd. bought a new stake in Urban Outfitters during the 2nd quarter worth $191,000. Finally, BT Investment Management Ltd bought a new stake in Urban Outfitters during the 2nd quarter worth $196,000. Institutional investors own 87.42% of the company’s stock.
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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