Urban Outfitters (URBN): Nice Beat But After Hours Move Brings The Stock To Fair Value - Piper Jaffray
- Wall St stumbles as FBI to review more Clinton emails
- FBI to review more emails related to Clinton's private email use
- Unusual 11 Mid-Day Movers 10/28: (GRVY) (VRTS) (ITGR) Higher; (OPXA) (SNMX) (STON) Lower
- ExxonMobil (XOM) Tops Q3 EPS by 5c; CapEx Light of Views
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Piper Jaffray analyst Neely Tamminga, reiterated her Neutral rating on shares of Urban Outfitters, Inc. (NASDAQ: URBN) after the company reported earnings. The analyst is encouraged by indications that URBN Inc. is performing well enough in a tough environment, but maintains a Neutral rating on the view that the stock will trade at fair value on the other side of FQ2 earnings.
FQ2 EPS of $0.66 came in well ahead of expectations ($0.55 by the street). Comparable store sales increased by 1% in the quarter with divisional performance, as follows: UO, +5%; Anthropologie, (3%); and Free People, flat. Gross margins expanded year-over-year by 180 bps reflecting improved merchandise margins primarily at UO and Anthropologie. Inventory levels remain lean following FQ1's (9.5%) y/y decline; FQ2 inventory levels were down (4%) y/y.
The analyst sees what appears to be stability in interest in apparel thus far this back-to-school/early fall selling season, indicative of interest in fashion and particularly denim-anchored looks.
The price target of $42.00 is up from $32.00
Shares of Urban Outfitters, Inc. closed at $31.24 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Oppenheimer Raises Price Target on Cirrus Logic, Inc. (CRUS); Reiterates Outperform
- Jefferies Raises Price Target on Bristol-Myers Squibb (BMY) Following 3Q
- Alphabet (GOOGL) (GOOG) PT Lifted to $1000 at Oppenheimer
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesPiper Jaffray, Earnings, Neely Tamminga
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!