Why Urban Outfitters, Inc. Stock Was Climbing Today
Shares of Urban Outfitters, Inc. (NASDAQ: URBN) were moving higher today as expectations for the company's upcoming third-quarter earnings report rose after a number of retail stocks posted better-than-expected earnings reports.
With its focus on hipsters and other urban millennials through brands such as its namesake Anthropologie and Free People, the company does not have a close peer in the public markets, but it still benefited as apparel retail stocks were surging across the board today due to strong results from Gap, Abercrombie & Fitch, Foot Locker, Ross Stores, Hibbett Sports, Shoe Carnival, and others. The reports seem to buck the conventional wisdom that mall-based apparel retail is dying as companies have adapted to changing dynamics and comparable sales are improving.
Image source: Urban Outfitters.
Source: Fool.com
Urban Outfitters Stock
With 12 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
At the moment Urban Outfitters has reached the predicted target price of 38 €, with a current price of 37.8 €.
