Urban Outfitters (NASDAQ:URBN) Price Target Raised to $60.00

Urban Outfitters (NASDAQ:URBN) had its target price lifted by UBS Group from $45.00 to $60.00 in a research report sent to investors on Friday morning,Benzinga reports. UBS Group currently has a neutral rating on the apparel retailer’s stock.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley lifted their target price on shares of Urban Outfitters from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. lifted their target price on Urban Outfitters from $46.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Bank of America increased their price target on Urban Outfitters from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Wells Fargo & Company lifted their price objective on Urban Outfitters from $48.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Telsey Advisory Group increased their target price on shares of Urban Outfitters from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Urban Outfitters has a consensus rating of “Hold” and an average target price of $49.64.

Urban Outfitters Stock Performance

Shares of URBN opened at $56.96 on Friday. Urban Outfitters has a 52 week low of $33.86 and a 52 week high of $59.05. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 1.10 and a beta of 1.55. The stock has a fifty day moving average of $48.29 and a 200-day moving average of $42.63.

Urban Outfitters (NASDAQ:URBN) last posted its earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 EPS for the quarter, beating the consensus estimate of $0.85 by $0.25. 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 the consensus estimate of $1.34 billion. During the same period last year, the company earned $0.88 earnings per share. The business’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities analysts forecast that Urban Outfitters will post 3.88 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Urban Outfitters by 1.1% during the third quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer’s stock valued at $107,244,000 after acquiring an additional 31,100 shares in the last quarter. Marshall Wace LLP increased its stake in 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 purchasing an additional 1,230,771 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Urban Outfitters by 3.1% during 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 last quarter. American Century Companies Inc. lifted its stake 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 buying an additional 264,708 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Urban Outfitters by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer’s stock valued at $56,765,000 after buying an additional 18,249 shares during the last quarter. 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.