Citigroup Forecasts Strong Price Appreciation for Urban Outfitters (NASDAQ:URBN) Stock

Urban Outfitters (NASDAQ:URBN) had its target price raised by Citigroup from $39.00 to $42.00 in a research report report published on Wednesday morning,Benzinga reports. Citigroup currently has a neutral rating on the apparel retailer’s stock.

Several other research analysts have also issued reports on the company. Wells Fargo & Company lowered their target price on 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. Telsey Advisory Group reaffirmed a “market perform” rating and set a $44.00 target price on shares of Urban Outfitters in a research report on Wednesday. Barclays lowered their target price on Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating for the company in a research report on Thursday, August 22nd. BMO Capital Markets lowered their target price on Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating for the company in a research report on Thursday, August 22nd. Finally, Bank of America lowered their price objective 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, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Urban Outfitters currently has an average rating of “Hold” and a consensus price target of $42.27.

Urban Outfitters Stock Up 4.3 %

NASDAQ URBN opened at $38.98 on Wednesday. Urban Outfitters has a twelve month low of $31.41 and a twelve month high of $48.90. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 0.88 and a beta of 1.50. The business’s fifty day moving average is $37.11 and its 200 day moving average is $40.07.

Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Wednesday, August 21st. The apparel retailer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.24. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. Urban Outfitters had a return on equity of 15.49% and a net margin of 5.83%. Urban Outfitters’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $1.10 EPS. On average, research analysts anticipate that Urban Outfitters will post 3.65 earnings per share for the current fiscal year.

Insider Activity at Urban Outfitters

In related news, CEO Tricia D. Smith sold 11,730 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $35.29, for a total value of $413,951.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 31.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Urban Outfitters

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. QRG Capital Management Inc. increased its position in Urban Outfitters by 2.4% in the 2nd quarter. QRG Capital Management Inc. now owns 9,327 shares of the apparel retailer’s stock valued at $383,000 after buying an additional 221 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in Urban Outfitters by 2.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 9,361 shares of the apparel retailer’s stock valued at $384,000 after purchasing an additional 258 shares during the last quarter. Quarry LP increased its holdings in Urban Outfitters by 32.3% during the 3rd quarter. Quarry LP now owns 1,222 shares of the apparel retailer’s stock worth $47,000 after purchasing an additional 298 shares in the last quarter. Signaturefd LLC increased its holdings in Urban Outfitters by 15.5% during the 2nd quarter. Signaturefd LLC now owns 2,230 shares of the apparel retailer’s stock worth $92,000 after purchasing an additional 299 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Urban Outfitters by 138.8% during the 3rd 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. 77.61% of the stock is owned by institutional investors.

Urban Outfitters Company Profile

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.