Urban Outfitters (NASDAQ:URBN) Stock Price Expected to Rise, Bank of America Analyst Says

Urban Outfitters (NASDAQ:URBN) had its price target increased by investment analysts at Bank of America from $46.00 to $53.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the apparel retailer’s stock. Bank of America‘s target price points to a potential upside of 32.04% from the stock’s current price.

Several other brokerages also recently commented on URBN. Robert W. Baird lifted their target price on Urban Outfitters from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday. BMO Capital Markets reduced their target price on Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating on the stock in a report on Thursday, August 22nd. Jefferies Financial Group lowered their price target on shares of Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday, August 22nd. Citigroup raised shares of Urban Outfitters from a “neutral” rating to a “buy” rating and upped their price objective for the company from $42.00 to $59.00 in a research note on Wednesday. Finally, Morgan Stanley lowered their target price on shares of Urban Outfitters from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $44.55.

Urban Outfitters Stock Down 0.8 %

NASDAQ URBN opened at $40.14 on Wednesday. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 0.95 and a beta of 1.50. Urban Outfitters has a twelve month low of $32.02 and a twelve month high of $48.90. The business’s fifty day moving average is $37.18 and its 200 day moving average is $40.06.

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

Insider Buying and Selling at Urban Outfitters

In other news, CEO Tricia D. Smith sold 11,730 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $35.29, for a total transaction of $413,951.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 31.80% of the company’s stock.

Institutional Trading of Urban Outfitters

Hedge funds have recently bought and sold shares of the business. State Street Corp raised its holdings in Urban Outfitters by 1.1% during the third quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer’s stock worth $107,244,000 after buying an additional 31,100 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Urban Outfitters by 116.3% in the second quarter. Marshall Wace LLP now owns 2,288,817 shares of the apparel retailer’s stock worth $93,956,000 after purchasing an additional 1,230,771 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Urban Outfitters by 3.1% in the third quarter. Fisher Asset Management LLC now owns 2,073,416 shares of the apparel retailer’s stock valued at $79,433,000 after purchasing an additional 62,019 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Urban Outfitters by 20.5% during 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 during the last quarter. Finally, Geode Capital Management LLC grew its holdings 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 worth $56,765,000 after buying an additional 18,249 shares in the last quarter. Institutional investors and hedge funds 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.