Urban Outfitters (NASDAQ:URBN) Price Target Raised to $53.00

Urban Outfitters (NASDAQ:URBN) had its price objective increased by Bank of America from $46.00 to $53.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the apparel retailer’s stock.

Several other equities research analysts also recently issued reports on the stock. Citigroup upgraded shares of Urban Outfitters from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $42.00 to $59.00 in a research note on Wednesday. Jefferies Financial Group dropped their price objective on shares of Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating on the stock in a report on Thursday, August 22nd. BMO Capital Markets reduced their target price on shares of Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating for the company in a research note on Thursday, August 22nd. Barclays lowered their price target on Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating on the stock in a research note on Thursday, August 22nd. Finally, Telsey Advisory Group raised their price objective on Urban Outfitters from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Urban Outfitters presently has a consensus rating of “Hold” and a consensus target price of $46.27.

Urban Outfitters Trading Up 2.6 %

NASDAQ:URBN opened at $48.73 on Wednesday. The firm has a market capitalization of $4.50 billion, a PE ratio of 13.96, a PEG ratio of 1.08 and a beta of 1.50. Urban Outfitters has a 1 year low of $33.86 and a 1 year high of $49.48. The firm’s fifty day simple moving average is $37.64 and its 200 day simple moving average is $40.16.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings data on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.28. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 EPS. As a group, analysts anticipate that Urban Outfitters will post 3.79 EPS for the current fiscal year.

Insider Buying and Selling

In other Urban Outfitters news, CEO Tricia D. Smith sold 11,730 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $35.29, for a total value of $413,951.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 31.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of URBN. Marshall Wace LLP increased its holdings in Urban Outfitters by 116.3% during the 2nd quarter. Marshall Wace LLP now owns 2,288,817 shares of the apparel retailer’s stock valued at $93,956,000 after purchasing an additional 1,230,771 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Urban Outfitters by 20.5% during the second quarter. American Century Companies Inc. now owns 1,555,067 shares of the apparel retailer’s stock worth $63,836,000 after purchasing an additional 264,708 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Urban Outfitters in the third quarter valued at $8,340,000. Empowered Funds LLC acquired a new stake in shares of Urban Outfitters in the third quarter valued at $7,789,000. Finally, Hennessy Advisors Inc. bought a new position in shares of Urban Outfitters in the second quarter valued at about $7,685,000. Institutional investors own 77.61% of the company’s stock.

Urban Outfitters Company Profile

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nuuly. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.