Urban Outfitters (NASDAQ:URBN) Upgraded at Citigroup

Citigroup upgraded shares of Urban Outfitters (NASDAQ:URBN) from a neutral rating to a buy rating in a report released on Wednesday, MarketBeat Ratings reports. Citigroup currently has $59.00 price target on the apparel retailer’s stock, up from their prior price target of $42.00.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company cut their price objective on shares of Urban Outfitters from $48.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Barclays cut their price target on shares of Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday, August 22nd. BMO Capital Markets decreased 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 report on Thursday, August 22nd. StockNews.com downgraded Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Finally, Bank of America reduced their target price on Urban Outfitters from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. One equities 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $46.27.

Urban Outfitters Price Performance

Shares of URBN stock opened at $48.73 on Wednesday. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 1.08 and a beta of 1.50. The company’s fifty day simple moving average is $37.64 and its two-hundred day simple moving average is $40.16. Urban Outfitters has a 1 year low of $33.86 and a 1 year high of $49.48.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings data on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the company posted $0.88 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that Urban Outfitters will post 3.79 EPS for the current year.

Insider Buying and Selling

In other Urban Outfitters news, CEO Tricia D. Smith sold 11,730 shares of Urban Outfitters 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 filing with the SEC, which can be accessed through the SEC website. 31.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Urban Outfitters

Institutional investors have recently made changes to their positions in the business. State Street Corp raised its position in Urban Outfitters by 1.1% in the 3rd quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer’s stock worth $107,244,000 after purchasing an additional 31,100 shares during the period. Marshall Wace LLP grew its stake in shares of Urban Outfitters by 116.3% during the second 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 during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Urban Outfitters by 3.1% in the third quarter. Fisher Asset Management LLC now owns 2,073,416 shares of the apparel retailer’s stock worth $79,433,000 after buying an additional 62,019 shares during the period. American Century Companies Inc. lifted its stake in shares of Urban Outfitters by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 1,555,067 shares of the apparel retailer’s stock valued at $63,836,000 after acquiring an additional 264,708 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Urban Outfitters by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer’s stock valued at $56,765,000 after acquiring an additional 18,249 shares during the last quarter. 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.