Urban Outfitters (NASDAQ:URBN) Hits New 1-Year High Following Analyst Upgrade

Urban Outfitters, Inc. (NASDAQ:URBN) shares hit a new 52-week high during mid-day trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $46.00 to $54.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Urban Outfitters traded as high as $59.05 and last traded at $56.69, with a volume of 1527924 shares. The stock had previously closed at $58.44.

A number of other analysts also recently issued reports on the company. Bank of America raised their price objective on Urban Outfitters from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Barclays lifted their target price on shares of Urban Outfitters from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. StockNews.com raised Urban Outfitters from a “hold” rating to a “buy” rating in a research note on Thursday, January 2nd. Robert W. Baird lifted their target price on Urban Outfitters from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company raised their price objective on shares of Urban Outfitters from $40.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $47.18.

Institutional Trading of Urban Outfitters

Several institutional investors and hedge funds have recently modified their holdings of URBN. GAMMA Investing LLC boosted its position in Urban Outfitters by 36.3% during the fourth quarter. GAMMA Investing LLC now owns 759 shares of the apparel retailer’s stock worth $42,000 after acquiring an additional 202 shares during the last quarter. Evergreen Capital Management LLC raised its stake in Urban Outfitters by 2.8% during the second quarter. Evergreen Capital Management LLC now owns 9,361 shares of the apparel retailer’s stock worth $384,000 after purchasing an additional 258 shares during the period. Quarry LP increased its holdings in shares of 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 buying an additional 298 shares during the last quarter. Blue Trust Inc. boosted its holdings in Urban Outfitters by 138.8% in the third quarter. Blue Trust Inc. now owns 609 shares of the apparel retailer’s stock valued at $25,000 after acquiring an additional 354 shares during the last quarter. Finally, Arizona State Retirement System grew its position in Urban Outfitters by 2.4% during the second quarter. Arizona State Retirement System now owns 16,976 shares of the apparel retailer’s stock valued at $697,000 after acquiring an additional 401 shares during the period. Hedge funds and other institutional investors own 77.61% of the company’s stock.

Urban Outfitters Stock Up 0.7 %

The company has a 50 day simple moving average of $47.86 and a 200 day simple moving average of $42.56. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 1.10 and a beta of 1.55.

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, topping analysts’ consensus estimates of $0.85 by $0.25. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.88 EPS. On average, research analysts forecast that Urban Outfitters, Inc. will post 3.88 EPS for the current fiscal year.

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.