Fintel reports that on August 14, 2023, Citigroup downgraded their outlook for Urban Outfitters (NASDAQ:URBN) from Buy to Neutral.

Analyst Price Forecast Suggests 5.33% Downside

As of August 2, 2023, the average one-year price target for Urban Outfitters is 34.47. The forecasts range from a low of 20.20 to a high of $47.25. The average price target represents a decrease of 5.33% from its latest reported closing price of 36.41.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Urban Outfitters is 5,000MM, an increase of 2.94%. The projected annual non-GAAP EPS is 2.22.

What is the Fund Sentiment?

There are 569 funds or institutions reporting positions in Urban Outfitters. This is an increase of 14 owner(s) or 2.52% in the last quarter. Average portfolio weight of all funds dedicated to URBN is 0.17%, an increase of 7.69%. Total shares owned by institutions decreased in the last three months by 4.38% to 76,290K shares. The put/call ratio of URBN is 1.11, indicating a bearish outlook.

What are Other Shareholders Doing?

Shapiro Capital Management holds 5,291K shares representing 5.71% ownership of the company. In it’s prior filing, the firm reported owning 5,285K shares, representing an increase of 0.11%. The firm increased its portfolio allocation in URBN by 11.26% over the last quarter.

IJR – iShares Core S&P Small-Cap ETF holds 4,370K shares representing 4.71% ownership of the company. In it’s prior filing, the firm reported owning 4,440K shares, representing a decrease of 1.60%. The firm increased its portfolio allocation in URBN by 11.15% over the last quarter.

Turtle Creek Asset Management holds 3,129K shares representing 3.38% ownership of the company. In it’s prior filing, the firm reported owning 5,192K shares, representing a decrease of 65.93%. The firm decreased its portfolio allocation in URBN by 33.36% over the last quarter.

MVCAX – MFS Mid Cap Value Fund A holds 2,094K shares representing 2.26% ownership of the company. In it’s prior filing, the firm reported owning 2,096K shares, representing a decrease of 0.10%. The firm increased its portfolio allocation in URBN by 27.93% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,865K shares representing 2.01% ownership of the company. In it’s prior filing, the firm reported owning 1,828K shares, representing an increase of 2.00%. The firm increased its portfolio allocation in URBN by 9.51% over the last quarter.

Urban Outfitters Background Information
(This description is provided by the company.)

Urban Outfitters, Inc. is a multinational lifestyle retail corporation headquartered in Philadelphia, Pennsylvania. It operates in the United States, Sweden, United Kingdom, Spain, Denmark, France, Germany, Ireland, Belgium, Canada, Italy, the Netherlands, Israel, Poland, and the United Arab Emirates.

This article originally appeared on Fintel

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