Urban Outfitters (NASDAQ:URBN) Price Target Raised to $53.00

Urban Outfitters (NASDAQ:URBN) had its target price boosted by Bank of America from $46.00 to $53.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the apparel retailer’s stock.

A number of other equities research analysts also recently weighed in on URBN. Telsey Advisory Group boosted their price target on shares of Urban Outfitters from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday. StockNews.com downgraded Urban Outfitters from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Morgan Stanley decreased their price objective on Urban Outfitters from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Barclays reduced their target price on Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday, August 22nd. Finally, Wells Fargo & Company lowered their price target on Urban Outfitters from $48.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Urban Outfitters currently has an average rating of “Hold” and an average price target of $46.27.

Urban Outfitters Stock Performance

NASDAQ URBN opened at $48.73 on Wednesday. The stock has a market capitalization of $4.50 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 1.08 and a beta of 1.50. Urban Outfitters has a 52 week low of $33.86 and a 52 week high of $49.48. The stock has a fifty day moving average of $37.64 and a 200-day moving average of $40.16.

Urban Outfitters (NASDAQ:URBN) last announced 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 return on equity of 15.86% and a net margin of 6.11%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the company earned $0.88 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that Urban Outfitters will post 3.79 earnings per share for the current fiscal year.

Insider Activity

In other Urban Outfitters news, CEO Tricia D. Smith sold 11,730 shares of the stock in a transaction dated Friday, September 6th. The stock was 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

Several institutional investors have recently bought and sold shares of URBN. Blue Trust Inc. lifted its position in shares of Urban Outfitters by 138.8% in the third quarter. Blue Trust Inc. now owns 609 shares of the apparel retailer’s stock worth $25,000 after purchasing an additional 354 shares in the last quarter. Quarry LP raised its holdings in Urban Outfitters by 1,825.0% during the second quarter. Quarry LP now owns 924 shares of the apparel retailer’s stock worth $38,000 after acquiring an additional 876 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Urban Outfitters during the second quarter valued at approximately $42,000. Meeder Asset Management Inc. acquired a new position in Urban Outfitters during the second quarter valued at approximately $48,000. Finally, Asset Management One Co. Ltd. acquired a new position in shares of Urban Outfitters during the 3rd quarter worth approximately $47,000. 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.