Urban Outfitters (NASDAQ:URBN) Given New $48.00 Price Target at Wells Fargo & Company

Urban Outfitters (NASDAQ:URBN) had its price objective upped by Wells Fargo & Company from $40.00 to $48.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the apparel retailer’s stock.

A number of other equities research analysts also recently issued reports on the stock. BMO Capital Markets reduced their price target on shares of Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating on the stock in a research note on Thursday, August 22nd. Bank of America upped their price target on Urban Outfitters from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays lifted their price objective on Urban Outfitters from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday. Telsey Advisory Group increased their target price on Urban Outfitters from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, Citigroup raised Urban Outfitters from a “neutral” rating to a “buy” rating and lifted their target price for the company from $42.00 to $59.00 in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $46.27.

Urban Outfitters Stock Performance

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

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.28. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 EPS. As a group, equities research analysts forecast that Urban Outfitters will post 3.79 earnings per share for the current fiscal year.

Insider Transactions at Urban Outfitters

In other Urban Outfitters news, CEO Tricia D. Smith sold 11,730 shares of the business’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 transaction of $413,951.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On Urban Outfitters

A number of hedge funds and other institutional investors have recently modified their holdings of URBN. CANADA LIFE ASSURANCE Co raised its stake in Urban Outfitters by 5.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 62,583 shares of the apparel retailer’s stock valued at $2,717,000 after buying an additional 2,953 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Urban Outfitters by 96.6% during the 1st quarter. Lazard Asset Management LLC now owns 6,815 shares of the apparel retailer’s stock worth $295,000 after acquiring an additional 3,348 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Urban Outfitters by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 33,202 shares of the apparel retailer’s stock worth $1,442,000 after purchasing an additional 2,307 shares during the last quarter. Tidal Investments LLC boosted its holdings in Urban Outfitters by 5.8% in the first quarter. Tidal Investments LLC now owns 18,575 shares of the apparel retailer’s stock valued at $807,000 after purchasing an additional 1,016 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in Urban Outfitters by 287.4% in the second quarter. Harbor Capital Advisors Inc. now owns 46,300 shares of the apparel retailer’s stock valued at $1,901,000 after purchasing an additional 34,350 shares during the last quarter. 77.61% of the stock is currently owned by institutional investors and hedge funds.

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.