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

Urban Outfitters (NASDAQ:URBN) had its price target hoisted by stock analysts at Citigroup from $39.00 to $42.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the apparel retailer’s stock. Citigroup’s price objective would indicate a potential upside of 12.42% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. StockNews.com downgraded shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Barclays dropped their target price on shares of Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating on the stock in a research note on Thursday, August 22nd. Wells Fargo & Company dropped their target price on shares of Urban Outfitters from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. Morgan Stanley lowered their price target on shares of Urban Outfitters from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $44.00 price target on shares of Urban Outfitters in a research report on Wednesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Urban Outfitters presently has an average rating of “Hold” and a consensus target price of $42.27.

Urban Outfitters Price Performance

Shares of URBN stock opened at $37.36 on Wednesday. The company has a market capitalization of $3.45 billion, a P/E ratio of 11.43, a P/E/G ratio of 0.90 and a beta of 1.50. The company’s 50-day simple moving average is $37.05 and its two-hundred day simple moving average is $40.09. Urban Outfitters has a one year low of $31.37 and a one year high of $48.90.

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

Insider Activity at Urban Outfitters

In other Urban Outfitters news, CEO Tricia D. Smith sold 11,730 shares of the firm’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at this link. 31.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in shares of Urban Outfitters by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer’s stock worth $56,765,000 after buying an additional 18,249 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Urban Outfitters by 367.0% in the third quarter. XTX Topco Ltd now owns 25,427 shares of the apparel retailer’s stock worth $974,000 after acquiring an additional 19,982 shares during the period. Zacks Investment Management increased its stake in shares of Urban Outfitters by 10.4% in the third quarter. Zacks Investment Management now owns 43,607 shares of the apparel retailer’s stock worth $1,671,000 after acquiring an additional 4,092 shares during the period. Weiss Asset Management LP acquired a new stake in shares of Urban Outfitters in the third quarter worth $3,894,000. Finally, State Street Corp increased its stake in shares of Urban Outfitters by 1.1% in the third quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer’s stock worth $107,244,000 after acquiring an additional 31,100 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.