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 published on Wednesday morning, Marketbeat.com reports. They currently have $59.00 target price on the apparel retailer’s stock, up from their prior target price of $42.00.

URBN has been the subject of a number of other research reports. Bank of America decreased their price target on shares of Urban Outfitters from $52.00 to $46.00 and set a “buy” rating for the company in a research note 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. Wells Fargo & Company dropped their price target on shares of Urban Outfitters from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Telsey Advisory Group boosted their price objective on Urban Outfitters from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Barclays dropped their target price on Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.27.

Urban Outfitters Price Performance

Shares of URBN opened at $48.73 on Wednesday. The stock has a 50-day moving average of $37.64 and a 200-day moving average of $40.16. Urban Outfitters has a one year low of $33.86 and a one year high of $49.48. The company has a market cap of $4.50 billion, a PE ratio of 13.96, a P/E/G ratio of 1.08 and a beta of 1.50.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings data on Tuesday, November 26th. The apparel retailer reported $1.10 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 firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the firm posted $0.88 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts expect that Urban Outfitters will post 3.79 EPS for the current fiscal year.

Insider Buying and Selling 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 shares were sold at an average price of $35.29, for a total value of $413,951.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 31.80% of the company’s stock.

Institutional Trading of Urban Outfitters

Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its position in shares of Urban Outfitters by 116.3% during the 2nd quarter. Marshall Wace LLP now owns 2,288,817 shares of the apparel retailer’s stock valued at $93,956,000 after acquiring an additional 1,230,771 shares during the period. American Century Companies Inc. lifted its stake in Urban Outfitters by 20.5% in the second quarter. American Century Companies Inc. now owns 1,555,067 shares of the apparel retailer’s stock valued at $63,836,000 after purchasing an additional 264,708 shares during the last quarter. Cerity Partners LLC bought a new position in Urban Outfitters during the third quarter valued at $8,340,000. Empowered Funds LLC purchased a new stake in Urban Outfitters in the third quarter worth $7,789,000. Finally, Hennessy Advisors Inc. bought a new stake in shares of Urban Outfitters in the second quarter valued at $7,685,000. Institutional investors own 77.61% of the company’s stock.

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.