Why Urban Outfitters, Inc.(URBN) Stock Is Down Today

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Urban Outfitters, Inc. (NASDAQ:URBN) stock dipped after the company received a downgrade by an analyst.

Why Urban Outfitters, Inc.(URBN) Stock Is Down TodayThe retailer said that it has been a difficult time for the company as foot traffic has declined. “Thus far during the first quarter of fiscal 2018, comparable Retail segment net sales are mid single-digit negative,” the company said in a statement.

Citi Research‘s Paul Lejuez is the analyst who lowered Urban Outfitters’ price target and rating in a note to investors, noting that its “weak store traffic has taken a further step down.”

Lejuez adds that the dip is part of a slower economy overall, and brands such as Urban Outfitters will likely not improve anytime soon. The price target was lowered from $32 per share to $23 per share.

The stock was also reduced from a “buy” rating to a “neutral” rating.

Urban Outfitters has been around since the first store opened in 1970. The company owns a number of brands, including Free People, which has been around since 1984, as well as Anthropologie, which has existed since 1992.

The company first went public the following year, in 1993.

URBN shares fell 3.3% Tuesday. Overall, the current calendar year has proven to be a challenging one for the company as the stock has fallen by roughly 21% year-to-date, as of the end of the day Tuesday.


Article printed from InvestorPlace Media, https://investorplace.com/2017/04/urban-outfitters-inc-urbn-2/.

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