Wells Fargo & Company Forecasts Strong Price Appreciation for Urban Outfitters (NASDAQ:URBN) Stock

Urban Outfitters (NASDAQ:URBN) had its price target raised by Wells Fargo & Company from $60.00 to $65.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the apparel retailer’s stock.

URBN has been the topic of several other research reports. Morgan Stanley raised shares of Urban Outfitters from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $41.00 to $63.00 in a research note on Tuesday, January 21st. Citigroup raised shares of Urban Outfitters from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $42.00 to $59.00 in a research note on Wednesday, November 27th. UBS Group boosted their price objective on shares of Urban Outfitters from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. StockNews.com cut shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Bank of America boosted their price objective on shares of Urban Outfitters from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $55.55.

Urban Outfitters Stock Performance

Shares of NASDAQ:URBN opened at $57.25 on Thursday. The company has a fifty day moving average of $55.85 and a 200-day moving average of $45.42. The company has a market capitalization of $5.28 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.02 and a beta of 1.54. Urban Outfitters has a 52-week low of $33.86 and a 52-week high of $60.90.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Wednesday, February 26th. The apparel retailer reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.15. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. On average, equities analysts forecast that Urban Outfitters will post 3.91 EPS for the current fiscal year.

Insider Buying and Selling at Urban Outfitters

In other Urban Outfitters news, Director Harry S. Cherken, Jr. sold 15,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $50.50, for a total transaction of $757,500.00. Following the sale, the director now owns 495,296 shares of the company’s stock, valued at approximately $25,012,448. This represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 31.80% of the company’s stock.

Hedge Funds Weigh In On Urban Outfitters

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. boosted its position in shares of Urban Outfitters by 138.8% during the 3rd quarter. Blue Trust Inc. now owns 609 shares of the apparel retailer’s stock worth $25,000 after purchasing an additional 354 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Urban Outfitters by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 525 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Urban Outfitters by 36.3% during the 4th quarter. GAMMA Investing LLC now owns 759 shares of the apparel retailer’s stock worth $42,000 after purchasing an additional 202 shares in the last quarter. Asset Management One Co. Ltd. bought a new position in shares of Urban Outfitters during the 3rd quarter worth about $47,000. Finally, Quarry LP boosted its position 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 purchasing an additional 298 shares in the last quarter. 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.