Urban Outfitters (NASDAQ:URBN) Stock Rating Lowered by Zacks Investment Research - Defense World - Financial Daily News Site

Urban Outfitters (NASDAQ:URBN) Stock Rating Lowered by Zacks Investment Research – Defense World


Urban Outfitters (NASDAQ:URBN – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, Zacks.com reports. They currently have a $23.00 price target on the apparel retailer’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 6.09% from the stock’s current price.

According to Zacks, “Shares of Urban Outfitters have underperformed the industry in the past six months. It posted a soft earnings performance for first-quarter fiscal 2023. Inflationary pressures from inbound freight, delivery expenses, raw materials and wages hurt the overall profits in the quarter. Also, the ongoing supply-chain headwinds were deterrents. It has also been witnessing higher SG&A expenses for a while now. Nonetheless, management remains committed to driving direct-to-consumer business, enhancing productivity in existing channels, adding brands and optimizing inventory level. Urban Outfitters’ strategic growth initiative, FP Movement, also bodes well. This is steadily boosting the Free People brand’s overall sales. Management expects sales to grow during the fiscal second quarter from the last fiscal year’s quarterly tally.”

URBN has been the subject of several other reports. TheStreet cut shares of Urban Outfitters from a “b-” rating to a “c+” rating in a report on Friday, May 20th. StockNews.com began coverage on shares of Urban Outfitters in a report on Thursday, March 31st. They set a “hold” rating for the company. BMO Capital Markets dropped their price target on shares of Urban Outfitters from $27.00 to $21.00 in a research report on Wednesday. Barclays dropped their target price on shares of Urban Outfitters from $29.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Morgan Stanley lowered shares of Urban Outfitters from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $34.00 to $25.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Urban Outfitters has a consensus rating of “Hold” and a consensus price target of $29.15.

Urban Outfitters stock traded up $0.83 during midday trading on Friday, reaching $21.68. The stock had a trading volume of 374,529 shares, compared to its average volume of 2,101,622. The company has a fifty day moving average price of $24.16 and a two-hundred day moving average price of $27.58. The company has a market capitalization of $2.07 billion, a P/E ratio of 6.94, a PEG ratio of 0.38 and a beta of 1.43. Urban Outfitters has a 12 month low of $17.81 and a 12 month high of $42.10.

Urban Outfitters (NASDAQ:URBN – Get Rating) last posted its quarterly earnings data on Tuesday, May 24th. The apparel retailer reported $0.33 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.09). The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Urban Outfitters had a net margin of 6.83% and a return on equity of 18.55%. Urban Outfitters’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 EPS. On average, equities analysts expect that Urban Outfitters will post 2.94 EPS for the current year.

In related news, CAO Azeez Hayne sold 5,000 shares of the stock in a transaction dated Monday, March 21st. The stock was sold at an average price of $26.61, for a total transaction of $133,050.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 27.50% of the company’s stock.

Large investors have recently modified their holdings of the stock. Amplius Wealth Advisors LLC acquired a new stake in Urban Outfitters during the 4th quarter worth $31,000. Steward Partners Investment Advisory LLC grew its stake in Urban Outfitters by 1,544.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,644 shares of the apparel retailer’s stock valued at $48,000 after acquiring an additional 1,544 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Urban Outfitters in the 4th quarter valued at about $67,000. Macquarie Group Ltd. boosted its stake in shares of Urban Outfitters by 186.8% during the 3rd quarter. Macquarie Group Ltd. now owns 2,710 shares of the apparel retailer’s stock worth $80,000 after purchasing an additional 1,765 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Urban Outfitters during the 3rd quarter worth about $149,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Urban Outfitters Company Profile (Get Rating)

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nully. 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 casual apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.

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