Urban Outfitters (NASDAQ:URBN) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Urban Outfitters (NASDAQ:URBN) from a hold rating to a buy rating in a research note released on Thursday morning.

Several other analysts have also issued reports on the stock. Telsey Advisory Group raised their price target on shares of Urban Outfitters from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday. BMO Capital Markets decreased their target price on Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating on the stock in a research report on Thursday, August 22nd. Bank of America boosted 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. Barclays raised their price objective on Urban Outfitters from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Citigroup upgraded Urban Outfitters from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $42.00 to $59.00 in a research report on Wednesday. One 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. According to data from MarketBeat.com, Urban Outfitters currently has an average rating of “Hold” and an average target price of $46.27.

Urban Outfitters Stock Performance

Urban Outfitters stock opened at $47.49 on Thursday. The business’s 50-day simple moving average is $37.44 and its 200-day simple moving average is $40.11. Urban Outfitters has a 52 week low of $33.17 and a 52 week high of $48.90. The firm has a market capitalization of $4.38 billion, a PE ratio of 13.61, a PEG 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. The company 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%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 earnings per share. Research analysts forecast that Urban Outfitters will post 3.79 earnings per share for the current year.

Insider Buying and Selling at Urban Outfitters

In other news, CEO Tricia D. Smith sold 11,730 shares of Urban Outfitters stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $35.29, for a total value of $413,951.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On Urban Outfitters

Hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. grew its holdings in shares of Urban Outfitters by 287.4% during the second quarter. Harbor Capital Advisors Inc. now owns 46,300 shares of the apparel retailer’s stock worth $1,901,000 after purchasing an additional 34,350 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Urban Outfitters by 5.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 10,026 shares of the apparel retailer’s stock worth $412,000 after buying an additional 531 shares in the last quarter. Wesbanco Bank Inc. bought a new stake in Urban Outfitters during the 2nd quarter worth about $582,000. Algert Global LLC increased its position in Urban Outfitters by 36.0% in the 3rd quarter. Algert Global LLC now owns 53,715 shares of the apparel retailer’s stock valued at $2,058,000 after acquiring an additional 14,220 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in shares of Urban Outfitters in the third quarter worth about $2,143,000. 77.61% of the stock is owned by institutional investors and hedge funds.

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.