Wells Fargo & Company Forecasts Strong Price Appreciation for Urban Outfitters (NASDAQ:URBN) Stock

Urban Outfitters (NASDAQ:URBN) had its price objective lifted by Wells Fargo & Company from $60.00 to $65.00 in a research report report published on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the apparel retailer’s stock.

Several other research analysts also recently issued reports on URBN. JPMorgan Chase & Co. lifted their price target on Urban Outfitters from $46.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Citigroup raised shares of Urban Outfitters from a “neutral” rating to a “buy” rating and boosted their target price for the company from $42.00 to $59.00 in a research note on Wednesday, November 27th. Morgan Stanley raised shares of Urban Outfitters from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $41.00 to $63.00 in a research note on Tuesday, January 21st. Robert W. Baird boosted their target price on shares of Urban Outfitters from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Telsey Advisory Group boosted their target price on shares of Urban Outfitters from $56.00 to $59.00 and gave the company a “market perform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $56.00.

Urban Outfitters Price Performance

NASDAQ:URBN opened at $58.19 on Thursday. The firm’s fifty day moving average price is $55.91 and its 200 day moving average price is $45.57. Urban Outfitters has a 1-year low of $33.86 and a 1-year high of $60.90. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 1.02 and a beta of 1.54.

Urban Outfitters (NASDAQ:URBN) last issued its earnings results on Wednesday, February 26th. The apparel retailer reported $1.04 EPS for the quarter, topping the consensus estimate of $0.89 by $0.15. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. As a group, analysts expect that Urban Outfitters will post 3.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Harry S. Cherken, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $50.50, for a total transaction of $757,500.00. Following the completion of the sale, the director now directly owns 495,296 shares of the company’s stock, valued at $25,012,448. This trade represents a 2.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in URBN. Blue Trust Inc. grew its holdings in Urban Outfitters by 138.8% in the 3rd quarter. Blue Trust Inc. now owns 609 shares of the apparel retailer’s stock valued at $25,000 after buying an additional 354 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Urban Outfitters by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 525 shares of the apparel retailer’s stock valued at $29,000 after buying an additional 200 shares during the last quarter. GAMMA Investing LLC grew its holdings in Urban Outfitters by 36.3% in the 4th quarter. GAMMA Investing LLC now owns 759 shares of the apparel retailer’s stock valued at $42,000 after buying an additional 202 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in Urban Outfitters in the 3rd quarter valued at approximately $47,000. Finally, Quarry LP grew its holdings in Urban Outfitters by 32.3% in the 3rd quarter. Quarry LP now owns 1,222 shares of the apparel retailer’s stock valued at $47,000 after buying an additional 298 shares during the last quarter. Institutional investors and hedge funds 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.