The stock surged to over a 6-month high and re-crossed its 200-day moving average.
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Several hedge funds have recently added to or reduced their stakes in URBN. The stock has a market capitalization of $3.84 billion and a price-to-earnings ratio of 18.32.
Comparable retail segment net sales dropped by 2% during the quarter, driven by a 2% decline at Anthropologie Group and a 3% retreat at Urban Outfitters.
The retailer has reported a sales slowdown at its two largest brands, Urban Outfitters and Anthropologie Group, which also includes BHLDN and Terrain. Telsey Advisory Group’s target gives a potential upside of 24.29 % from the company’s current price.
URBN shares were up 14% as of Tuesday morning. Taking a look at the daily chart we can see that the last time URBN traded above this price level was on August 17th when it traded at $32.23. The apparel retailer reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.05. Gotham Asset Management LLC now owns 2,328,792 shares of the apparel retailer’s stock valued at $52,980,000 after buying an additional 1,652,253 shares in the last quarter.
Nevertheless, the company’s results were better than had been projected by Wall Street, which helped to send its shares up 5.7% in late trading. The Philadelphia-based retail chain reported improved merchandise margins during the holiday season last quarter, but apparel sales underperformed.
Analysts at Stifel reaffirmed their “Buy” rating for Urban Outfitters and also increased their price target for the stock from $30 to $34 on Tuesday. Total revenue for the quarter, at $1.01 billion, fell just slightly short of the $1.02 billion analysts forecasted, but that didn’t put a damper on the investors’ excitement yesterday. MKM Partners reduced their price target on shares of Urban Outfitters from $33.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 17th. The mean target price is $26.93 according to First Call.
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After witnessing a shaky end to 2015, Urban Outfitters, Inc.
