American International Group Inc. lowered 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,272 shares of the apparel retailer’s stock after selling 14,398 shares during the period. American International Group Inc. owned 0.15% of Urban Outfitters worth $3,974,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of URBN. Sun Life Financial INC bought a new stake in Urban Outfitters during the second quarter valued at approximately $151,000. LS Investment Advisors LLC lifted its position in 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 purchasing an additional 1,052 shares during the last quarter. Pacad Investment Ltd. bought a new stake in Urban Outfitters during the second quarter valued at approximately $191,000. BT Investment Management Ltd bought a new stake in Urban Outfitters during the second quarter valued at approximately $196,000. Finally, Oppenheimer Asset Management Inc. lifted its position in Urban Outfitters by 0.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 10,691 shares of the apparel retailer’s stock valued at $198,000 after purchasing an additional 43 shares during the last quarter. 86.54% of the stock is owned by institutional investors.
Several equities research analysts have issued reports on the stock. Wolfe Research lifted their target price on shares of Urban Outfitters from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Tuesday. Robert W. Baird reiterated a “buy” rating and set a $35.00 target price on shares of Urban Outfitters in a research report on Friday. KeyCorp reiterated a “buy” rating on shares of Urban Outfitters in a research report on Friday. SunTrust Banks set a $35.00 target price on shares of Urban Outfitters and gave the company a “buy” rating in a research report on Monday, December 11th. Finally, Telsey Advisory Group lifted their target price on shares of Urban Outfitters from $30.00 to $35.00 and gave the company a “market perform” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, twenty-two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $25.20.
Shares of Urban Outfitters, Inc. (NASDAQ URBN) traded up $0.47 during trading on Friday, reaching $32.78. 4,128,988 shares of the company’s stock were exchanged, compared to its average volume of 4,339,904. The stock has a market cap of $3,497.51, a P/E ratio of 21.12, a P/E/G ratio of 1.73 and a beta of 0.73. Urban Outfitters, Inc. has a fifty-two week low of $16.19 and a fifty-two week high of $34.00.
Urban Outfitters (NASDAQ:URBN) last released its earnings results on Monday, November 20th. The apparel retailer reported $0.41 earnings per share for the quarter, topping the Zacks’ 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%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 EPS. analysts predict that Urban Outfitters, Inc. will post 1.56 earnings per share for the current fiscal year.
Urban Outfitters announced that its board has authorized a share buyback program on Thursday, August 24th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
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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