Urban Outfitters (NASDAQ:URBN) Price Target Raised to $48.00

Urban Outfitters (NASDAQ:URBN) had its target price hoisted by Wells Fargo & Company from $40.00 to $48.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the apparel retailer’s stock.

Other research analysts have also recently issued research reports about the stock. Barclays raised their target price on shares of Urban Outfitters from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday. Robert W. Baird upped their price objective on Urban Outfitters from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday. Jefferies Financial Group cut their target price on shares of Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday, August 22nd. StockNews.com downgraded shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Finally, Morgan Stanley raised their target price on Urban Outfitters from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Wednesday. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.27.

Urban Outfitters Trading Up 2.6 %

NASDAQ URBN opened at $48.73 on Wednesday. Urban Outfitters has a 12-month low of $33.86 and a 12-month high of $49.48. The company has a fifty day simple moving average of $37.64 and a two-hundred day simple moving average of $40.16. The stock has a market cap of $4.50 billion, a P/E ratio of 13.96, a P/E/G ratio of 1.08 and a beta of 1.50.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings results 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 company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the firm posted $0.88 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Urban Outfitters will post 3.79 earnings per share 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 on Friday, September 6th. The shares were sold at an average price of $35.29, for a total transaction of $413,951.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 31.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Urban Outfitters

Several hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. grew its stake in 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 acquiring an additional 354 shares in the last quarter. Quarry LP grew its position in shares of 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 purchasing an additional 876 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Urban Outfitters in the second quarter valued at approximately $42,000. Asset Management One Co. Ltd. purchased a new position in Urban Outfitters during the third quarter worth approximately $47,000. Finally, Meeder Asset Management Inc. acquired a new position in Urban Outfitters during the second quarter worth $48,000. 77.61% of the stock is owned by hedge funds and other 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.