Urban Outfitters (NASDAQ:URBN) Price Target Raised to $48.00

Urban Outfitters (NASDAQ:URBN) had its price target increased by stock analysts at Wells Fargo & Company from $40.00 to $48.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the apparel retailer’s stock. Wells Fargo & Company‘s target price points to a potential upside of 3.40% from the company’s current price.

Several other brokerages also recently issued reports on URBN. Barclays raised their price target on Urban Outfitters from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday. Jefferies Financial Group decreased their price target on shares of Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating on the stock in a research note on Thursday, August 22nd. Robert W. Baird raised their price objective on shares of Urban Outfitters from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday. Citigroup upgraded Urban Outfitters from a “neutral” rating to a “buy” rating and increased their target price for the stock from $42.00 to $59.00 in a research note on Wednesday. Finally, StockNews.com cut Urban Outfitters from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $46.27.

Urban Outfitters Trading Up 15.6 %

Shares of Urban Outfitters stock traded up $6.28 during trading on Wednesday, reaching $46.42. The stock had a trading volume of 4,414,705 shares, compared to its average volume of 1,692,635. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 14.20, a P/E/G ratio of 0.95 and a beta of 1.50. Urban Outfitters has a 52 week low of $33.17 and a 52 week high of $48.90. The stock has a fifty day moving average price of $37.24 and a two-hundred day moving average price of $40.06.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 EPS for the quarter, beating the consensus estimate of $0.82 by $0.28. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Urban Outfitters had a return on equity of 15.49% and a net margin of 5.83%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. On average, equities analysts forecast that Urban Outfitters will post 3.65 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Tricia D. Smith sold 11,730 shares of Urban Outfitters stock in a transaction on Friday, September 6th. The stock was sold at an average price of $35.29, for a total transaction of $413,951.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On Urban Outfitters

Several institutional investors have recently made changes to their positions in URBN. Geode Capital Management LLC boosted its stake in 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 period. XTX Topco Ltd raised its holdings in shares of Urban Outfitters by 367.0% in the 3rd quarter. XTX Topco Ltd now owns 25,427 shares of the apparel retailer’s stock valued at $974,000 after acquiring an additional 19,982 shares in the last quarter. Zacks Investment Management boosted its position in shares of Urban Outfitters by 10.4% during the 3rd quarter. Zacks Investment Management now owns 43,607 shares of the apparel retailer’s stock valued at $1,671,000 after acquiring an additional 4,092 shares during the last quarter. Weiss Asset Management LP purchased a new position in shares of Urban Outfitters during the third quarter worth about $3,894,000. Finally, State Street Corp increased its position in shares of Urban Outfitters by 1.1% in the third quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer’s stock worth $107,244,000 after purchasing an additional 31,100 shares during the last quarter. Hedge funds and other institutional investors own 77.61% of the company’s stock.

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.