Urban Outfitters (NASDAQ:URBN) Price Target Raised to $42.00

Urban Outfitters (NASDAQ:URBN) had its price target upped by Citigroup from $39.00 to $42.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the apparel retailer’s stock.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company cut their price target on shares of Urban Outfitters from $48.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Barclays lowered their price objective on shares of Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, August 22nd. Bank of America lowered their price objective on shares of Urban Outfitters from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Telsey Advisory Group restated a “market perform” rating and set a $44.00 price objective on shares of Urban Outfitters in a research report on Wednesday. Finally, Morgan Stanley decreased their price objective on shares of Urban Outfitters from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.27.

Urban Outfitters Price Performance

URBN stock opened at $36.91 on Wednesday. The company has a market cap of $3.41 billion, a P/E ratio of 11.29, a PEG ratio of 0.90 and a beta of 1.50. Urban Outfitters has a 1 year low of $31.37 and a 1 year high of $48.90. The firm has a 50-day moving average of $37.01 and a 200 day moving average of $40.11.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings data on Wednesday, August 21st. The apparel retailer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.24. Urban Outfitters had a net margin of 5.83% and a return on equity of 15.49%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the company earned $1.10 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts expect that Urban Outfitters will post 3.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Urban Outfitters

In other news, CEO Tricia D. Smith sold 11,730 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $35.29, for a total value of $413,951.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 31.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Urban Outfitters

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Urban Outfitters by 5.0% during the first quarter. Vanguard Group Inc. now owns 8,054,721 shares of the apparel retailer’s stock valued at $349,736,000 after acquiring an additional 382,135 shares during the last quarter. State Street Corp increased its stake in Urban Outfitters by 1.1% during the 3rd quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer’s stock valued at $107,244,000 after purchasing an additional 31,100 shares in the last quarter. Marshall Wace LLP increased its stake 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. Fisher Asset Management LLC increased its stake in shares of Urban Outfitters by 3.1% in the third quarter. Fisher Asset Management LLC now owns 2,073,416 shares of the apparel retailer’s stock worth $79,433,000 after acquiring an additional 62,019 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Urban Outfitters by 20.5% in the second quarter. American Century Companies Inc. now owns 1,555,067 shares of the apparel retailer’s stock worth $63,836,000 after acquiring an additional 264,708 shares during the period. Hedge funds and other 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.