Urban Outfitters (NASDAQ:URBN) Sets New 12-Month High – Time to Buy?

Shares of Urban Outfitters, Inc. (NASDAQ:URBN) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $52.86 and last traded at $52.77, with a volume of 71589 shares traded. The stock had previously closed at $51.77.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Citigroup upgraded Urban Outfitters from a “neutral” rating to a “buy” rating and boosted their price target for the company from $42.00 to $59.00 in a research note on Wednesday, November 27th. Robert W. Baird increased their price target on shares of Urban Outfitters from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Jefferies Financial Group decreased their price objective on shares of Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating for the company in a research note on Thursday, August 22nd. Barclays increased their price objective on shares of Urban Outfitters from $43.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Finally, Bank of America boosted their target price on shares of Urban Outfitters from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.27.

Urban Outfitters Price Performance

The business’s fifty day simple moving average is $40.59 and its two-hundred day simple moving average is $40.88. The company has a market cap of $4.84 billion, a PE ratio of 15.03, a PEG ratio of 1.10 and a beta of 1.60.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.25. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. Urban Outfitters’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 EPS. As a group, analysts predict that Urban Outfitters, Inc. will post 3.88 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Marshall Wace LLP grew its stake in Urban Outfitters by 116.3% in 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. grew its position in shares of 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 period. Cerity Partners LLC acquired a new stake in shares of Urban Outfitters in the third quarter valued at about $8,340,000. Empowered Funds LLC purchased a new stake in shares of Urban Outfitters during the third quarter worth about $7,789,000. Finally, Hennessy Advisors Inc. acquired a new position in shares of Urban Outfitters during the 2nd quarter worth about $7,685,000. 77.61% of the stock is owned by institutional investors and hedge funds.

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.