Urban Outfitters (NASDAQ:URBN) Given New $77.00 Price Target at Morgan Stanley

Urban Outfitters (NASDAQ:URBN) had its target price upped by Morgan Stanley from $62.00 to $77.00 in a report issued on Thursday morning, Marketbeat.com reports. Morgan Stanley currently has an overweight rating on the apparel retailer’s stock.

A number of other research firms also recently issued reports on URBN. Jefferies Financial Group lifted their target price on Urban Outfitters from $42.00 to $46.00 and gave the company an “underperform” rating in a research report on Wednesday. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $59.00 target price on shares of Urban Outfitters in a research report on Friday, May 16th. Robert W. Baird lifted their target price on Urban Outfitters from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Glj Research reaffirmed a “sell” rating on shares of Urban Outfitters in a research report on Thursday. Finally, Citigroup lowered their target price on Urban Outfitters from $65.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $67.45.

Urban Outfitters Price Performance

URBN opened at $73.21 on Thursday. The business’s 50-day moving average price is $52.36 and its two-hundred day moving average price is $52.01. Urban Outfitters has a 1 year low of $33.86 and a 1 year high of $73.68. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 1.02 and a beta of 1.33.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.35. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the business posted $0.69 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Sell-side analysts anticipate that Urban Outfitters will post 3.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Urban Outfitters news, Director Wesley S. Mcdonald sold 8,300 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $58.44, for a total transaction of $485,052.00. Following the transaction, the director now owns 15,450 shares of the company’s stock, valued at $902,898. The trade was a 34.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Azeez Hayne sold 11,676 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $54.75, for a total value of $639,261.00. The disclosure for this sale can be found here. Insiders have sold a total of 29,976 shares of company stock valued at $1,663,713 over the last 90 days. 31.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Urban Outfitters

Institutional investors have recently made changes to their positions in the company. Whipplewood Advisors LLC boosted its holdings in shares of Urban Outfitters by 2,893.8% during the first quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer’s stock worth $25,000 after acquiring an additional 463 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Urban Outfitters by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 525 shares of the apparel retailer’s stock worth $29,000 after acquiring an additional 200 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Urban Outfitters by 17,175.0% during the first quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer’s stock worth $36,000 after acquiring an additional 687 shares during the period. Virtus Advisers LLC bought a new stake in shares of Urban Outfitters during the first quarter worth approximately $46,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Urban Outfitters during the first quarter worth approximately $52,000. Institutional investors own 77.61% of the company’s stock.

About Urban Outfitters

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.