Invictus RG increased its position in Urban Outfitters by 1,074.9% in the first quarter.
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Last month, Urban Outfitters reported first quarter revenues of $763 million, the most on record for the opening three months of a year in company history.
“Due to our inventory turnover rate and our historical ability to pass through the impact of any generalized changes in our cost of goods to our customers through pricing adjustments, commodity and other product risks are not expected to be material”, Urban Outfitters said in the filing. Analysts issue reports which often include a future stock price projection for the stock.
The share price of the company (NASDAQ:URBN) was down -5.85% during the last trading session, with a high of 26.41 and the volume of Urban Outfitters, Inc. shares traded was 4485043.
Urban Outfitters (NASDAQ:URBN) opened at 27.93 on Friday. During the same quarter a year ago, the firm posted $0.25 earnings per share. Stifel Nicolaus raised their price objective on Urban Outfitters from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, March 8th. Shares were Reiterated by RBC Capital Mkts on Jun 10, 2016 to “Sector Perform” and Lowered the Price Target to $ 29 from a previous price target of $32.Urban Outfitters was Upgraded by Morgan Stanley to ” Overweight” on May 20, 2016. The stock presently has a consensus rating of “Hold” and an average price target of $32.07. The shares were sold at an average price of $33.92, for a total transaction of $1,017,600.00. Equities research analysts expect that Urban Outfitters will post $1.97 EPS for the current year.
In a different news, on May 26, 2016, Frank Conforti (Chief Financial Officer) sold 3,300 shares at $28.23 per share price. It operates through the Retail and Wholesale segments. The company’s revenue was up 3.2% compared to the same quarter past year.
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The parent company of several retail brands, which includes Free People, Anthropologie, and Urban Outfitters, admitted in its 10-Q regulatory filing that the company is now exposed to fluctuating purchase price in merchandises, along with foreign currency headwinds and changing interest rates. The Anthropologie Group consists of the Anthropologie and Bhldn brands.
