Urban Outfitters (NASDAQ:URBN) Sets New 52-Week High – Should You Buy?

Shares of Urban Outfitters, Inc. (NASDAQ:URBN) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $56.48 and last traded at $56.35, with a volume of 270694 shares trading hands. The stock had previously closed at $54.88.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on URBN shares. StockNews.com upgraded Urban Outfitters from a “hold” rating to a “buy” rating in a research report on Thursday. Citigroup upgraded Urban Outfitters from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $42.00 to $59.00 in a research note on Wednesday, November 27th. Morgan Stanley lifted their price target on shares of Urban Outfitters from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Barclays lifted their target price on shares of Urban Outfitters from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Finally, Robert W. Baird boosted their price objective on Urban Outfitters from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Urban Outfitters presently has an average rating of “Hold” and an average target price of $46.27.

Urban Outfitters Stock Performance

The firm has a market capitalization of $5.16 billion, a P/E ratio of 16.03, a P/E/G ratio of 1.10 and a beta of 1.60. The stock’s 50 day simple moving average is $45.31 and its 200 day simple moving average is $42.03.

Urban Outfitters (NASDAQ:URBN) last posted its earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.25. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. Urban Outfitters’s revenue was up 6.3% on a year-over-year basis. On average, analysts anticipate that Urban Outfitters, Inc. will post 3.88 earnings per share for the current year.

Institutional Investors Weigh In On Urban Outfitters

A number of hedge funds and other institutional investors have recently bought and sold shares of URBN. Blue Trust Inc. lifted its holdings in shares of Urban Outfitters by 138.8% during the 3rd quarter. Blue Trust Inc. now owns 609 shares of the apparel retailer’s stock valued at $25,000 after purchasing an additional 354 shares during the last quarter. Quarry LP raised its stake in Urban Outfitters by 1,825.0% in the second quarter. Quarry LP now owns 924 shares of the apparel retailer’s stock valued at $38,000 after buying an additional 876 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Urban Outfitters during the second quarter worth about $42,000. Asset Management One Co. Ltd. acquired a new position in shares of Urban Outfitters during the third quarter valued at about $47,000. Finally, Meeder Asset Management Inc. acquired a new stake in Urban Outfitters in the 2nd quarter worth approximately $48,000. 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.