Urban Outfitters (NASDAQ:URBN) Stock Rating Upgraded by Baird R W

Urban Outfitters (NASDAQ:URBN) was upgraded by investment analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

URBN has been the topic of several other research reports. BMO Capital Markets set a $76.00 price target on shares of Urban Outfitters and gave the stock a “market perform” rating in a research report on Thursday, May 22nd. Glj Research reissued a “sell” rating on shares of Urban Outfitters in a research report on Thursday, May 22nd. Barclays increased their price target on shares of Urban Outfitters from $59.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 20th. Bank of America increased their price target on shares of Urban Outfitters from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley increased their price target on shares of Urban Outfitters from $62.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.09.

Urban Outfitters Price Performance

NASDAQ URBN opened at $69.23 on Wednesday. The firm’s 50-day moving average is $58.14 and its two-hundred day moving average is $55.25. Urban Outfitters has a 12 month low of $33.86 and a 12 month high of $75.80. The stock has a market capitalization of $6.41 billion, a P/E ratio of 19.84, a PEG ratio of 1.02 and a beta of 1.45.

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

Insiders Place Their Bets

In other news, insider Azeez Hayne sold 12,856 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $73.00, for a total transaction of $938,488.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Margaret Hayne sold 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $72.59, for a total transaction of $5,807,200.00. Following the transaction, the insider now owns 100 shares in the company, valued at approximately $7,259. This trade represents a 99.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 159,156 shares of company stock valued at $11,636,158. 31.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Urban Outfitters

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its position in shares of Urban Outfitters by 1,016.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 131,606 shares of the apparel retailer’s stock worth $7,223,000 after acquiring an additional 119,820 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Urban Outfitters by 1,778.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 34,588 shares of the apparel retailer’s stock worth $1,898,000 after acquiring an additional 32,747 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Urban Outfitters by 7.9% during the fourth quarter. Bank of New York Mellon Corp now owns 706,161 shares of the apparel retailer’s stock worth $38,754,000 after acquiring an additional 51,657 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Urban Outfitters by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,174,966 shares of the apparel retailer’s stock valued at $64,482,000 after buying an additional 60,697 shares during the last quarter. Finally, Amundi grew its position in Urban Outfitters by 850.3% in the 4th quarter. Amundi now owns 34,191 shares of the apparel retailer’s stock valued at $1,952,000 after buying an additional 30,593 shares during the last quarter. 77.61% of the stock is currently owned by hedge funds and other institutional investors.

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.