Downgrade Alert for Urban Outfitters (URBN)
Urban Outfitters (NASDAQ:URBN) was downgraded from Buy to Neutral at Goldman Sachs today. The stock closed yesterday at $36.85 on volume of 2.9 million shares, above average daily volume of 2.0 million.
Urban Outfitters (NASDAQ:URBN) defies analysts with a current price ($36.85) 28.2% above its average consensus price target of $26.45. The stock should find initial support at its 50-day moving average (MA) of $30.93 and further support at its 200-day MA of $27.99.
Urban Outfitters, Inc. operates retail stores and direct response, including a catalog and Web sites. The Company's Urban Outfitters and Anthropologie retail concepts sell fashion apparel, accessories, and household and gift merchandise. Urban also designs and markets young women's casual wear which it provides to the Company's retail operations and sells to retailers worldwide.
In the past 52 weeks, shares of Urban Outfitters have traded between a low of $19.26 and a high of $47.25 and closed yesterday at $36.85, which is 91% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has slid 0.4%.
SmarTrend recommended that subscribers consider buying shares of Urban Outfitters on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.37. Since that recommendation, shares of Urban Outfitters have risen 28.8%. We continue to monitor URBN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades Urban Outfitters