American International Group Inc. reduced its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 8.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 166,272 shares of the apparel retailer’s stock after selling 14,398 shares during the period. American International Group Inc. owned about 0.15% of Urban Outfitters worth $3,974,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Sun Life Financial INC purchased a new stake in shares of Urban Outfitters during the 2nd quarter worth $151,000. LS Investment Advisors LLC lifted its position in shares of 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 purchasing an additional 1,052 shares during the last quarter. Pacad Investment Ltd. purchased a new stake in shares of Urban Outfitters during the 2nd quarter worth $191,000. BT Investment Management Ltd purchased a new stake in shares of Urban Outfitters during the 2nd quarter worth $196,000. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Urban Outfitters by 0.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,691 shares of the apparel retailer’s stock worth $198,000 after purchasing an additional 43 shares during the last quarter. 86.54% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the stock. Alere Financial reissued a “neutral” rating and issued a $24.00 price target (up from $19.00) on shares of Urban Outfitters in a research report on Wednesday, November 22nd. Zacks Investment Research raised shares of Urban Outfitters from a “hold” rating to a “strong-buy” rating and set a $34.00 price target for the company in a research report on Thursday, November 23rd. Robert W. Baird reissued a “buy” rating on shares of Urban Outfitters in a research report on Friday, November 24th. KeyCorp boosted their price target on shares of Urban Outfitters to $3.00 and gave the company an “overweight” rating in a research report on Tuesday, November 21st. Finally, Jefferies Group boosted their price target on shares of Urban Outfitters to $34.00 and gave the company a “buy” rating in a research report on Tuesday, November 21st. Three investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $24.20.
Urban Outfitters, Inc. (URBN) opened at $32.64 on Thursday. The stock has a market cap of $3,570.00, a PE ratio of 21.00, a PEG ratio of 1.80 and a beta of 0.73. Urban Outfitters, Inc. has a 52-week low of $16.19 and a 52-week high of $35.55.
Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings data on Monday, November 20th. The apparel retailer reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.08. The firm had revenue of $892.77 million for the quarter, compared to the consensus estimate of $860.64 million. Urban Outfitters had a net margin of 4.81% and a return on equity of 13.34%. Urban Outfitters’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.40 EPS. sell-side analysts forecast that Urban Outfitters, Inc. will post 1.55 EPS for the current year.
Urban Outfitters announced that its Board of Directors has authorized a stock buyback plan on Thursday, August 24th that permits the company to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the apparel retailer to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is 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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