Morgan Stanley Increases Urban Outfitters (NASDAQ:URBN) Price Target to $41.00

Urban Outfitters (NASDAQ:URBN) had its target price boosted by Morgan Stanley from $38.00 to $41.00 in a report issued on Wednesday,Benzinga reports. They currently have an equal weight rating on the apparel retailer’s stock.

Several other equities research analysts also recently issued reports on URBN. BMO Capital Markets dropped their price objective on Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating on the stock in a report on Thursday, August 22nd. Jefferies Financial Group cut their price target 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. Bank of America raised their price objective on shares of Urban Outfitters from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company cut their price objective on 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. Finally, Barclays lifted their target price on Urban Outfitters from $43.00 to $51.00 and gave the stock an “overweight” 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $46.27.

Urban Outfitters Stock Up 2.6 %

URBN opened at $48.73 on Wednesday. The firm’s 50 day moving average is $37.64 and its 200-day moving average is $40.16. Urban Outfitters has a 52-week low of $33.86 and a 52-week high of $49.48. The firm has a market capitalization of $4.50 billion, a P/E ratio of 13.96, a P/E/G ratio of 1.08 and a beta of 1.50.

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

Insider Buying and Selling

In related news, CEO Tricia D. Smith sold 11,730 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $35.29, for a total value of $413,951.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP grew its position in Urban Outfitters by 116.3% in the 2nd quarter. Marshall Wace LLP now owns 2,288,817 shares of the apparel retailer’s stock valued at $93,956,000 after buying an additional 1,230,771 shares in the last quarter. American Century Companies Inc. lifted its position in 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 purchasing an additional 264,708 shares during the period. Cerity Partners LLC acquired a new position in shares of Urban Outfitters during the 3rd quarter valued at $8,340,000. Empowered Funds LLC bought a new stake in shares of Urban Outfitters in the 3rd quarter worth $7,789,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Urban Outfitters in the second quarter valued at $7,685,000. Institutional investors and hedge funds 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.