Nomura Securities Maintains a 'Neutral' on Urban Outfitters (URBN); Cutting Estimates
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Price: $77.81 +2.11%
Rating Summary:
15 Buy, 26 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
15 Buy, 26 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Neutral' on Urban Outfitters, Inc. (NASDAQ: URBN) price target of $28.00.
Analyst, Paul Lejuez, said, "Management indicated that it will take time for the Anthro division to get back on track. In addition, it guided to a higher-than-expected level of SG&A spend in F12, and indicated the company has underinvested in the past. The spending will limit profitability as it tries to execute a turnaround. Based on an increase in SG&A, we are reducing our F12E from $1.56 to $1.36 (cons is $1.54). We are also introducing our F12E of $1.61. Though inventory is in better shape, we do not see a positive catalyst for the stock in the near term, especially as the company increases its SG&A spend."
For an analyst ratings summary and ratings history on Urban Outfitters, Inc. click here. For more ratings news on Urban Outfitters, Inc. click here.
Shares of Urban Outfitters, Inc. closed at $29.51 yesterday.
Analyst, Paul Lejuez, said, "Management indicated that it will take time for the Anthro division to get back on track. In addition, it guided to a higher-than-expected level of SG&A spend in F12, and indicated the company has underinvested in the past. The spending will limit profitability as it tries to execute a turnaround. Based on an increase in SG&A, we are reducing our F12E from $1.56 to $1.36 (cons is $1.54). We are also introducing our F12E of $1.61. Though inventory is in better shape, we do not see a positive catalyst for the stock in the near term, especially as the company increases its SG&A spend."
For an analyst ratings summary and ratings history on Urban Outfitters, Inc. click here. For more ratings news on Urban Outfitters, Inc. click here.
Shares of Urban Outfitters, Inc. closed at $29.51 yesterday.
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