Urban Outfitters (NASDAQ:URBN) Hits New 52-Week High – Here’s Why

Urban Outfitters, Inc. (NASDAQ:URBN) reached a new 52-week high during trading on Friday . The stock traded as high as $49.48 and last traded at $48.79, with a volume of 1020331 shares. The stock had previously closed at $47.49.

Analysts Set New Price Targets

URBN has been the subject of several recent analyst reports. Morgan Stanley raised their target price on Urban Outfitters from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Wells Fargo & Company raised their target price on Urban Outfitters from $40.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Bank of America raised their target price on Urban Outfitters from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group decreased their target price on Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating for the company in a research note on Thursday, August 22nd. Finally, Citigroup upgraded Urban Outfitters from a “neutral” rating to a “buy” rating and increased their price target for the stock from $42.00 to $59.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Urban Outfitters currently has an average rating of “Hold” and a consensus price target of $46.27.

Urban Outfitters Price Performance

The stock has a fifty day moving average price of $37.64 and a two-hundred day moving average price of $40.16. The company has a market cap of $4.50 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 1.08 and a beta of 1.50.

Urban Outfitters (NASDAQ:URBN) last posted its earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.28. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the company earned $0.88 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts predict that Urban Outfitters, Inc. will post 3.79 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Tricia D. Smith sold 11,730 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 31.80% of the company’s stock.

Institutional Trading of Urban Outfitters

A number of institutional investors and hedge funds have recently modified their holdings of the business. QRG Capital Management Inc. increased its position in shares of Urban Outfitters by 2.4% during the second quarter. QRG Capital Management Inc. now owns 9,327 shares of the apparel retailer’s stock valued at $383,000 after acquiring an additional 221 shares during the last quarter. Evergreen Capital Management LLC increased its position in Urban Outfitters by 2.8% in the second quarter. Evergreen Capital Management LLC now owns 9,361 shares of the apparel retailer’s stock worth $384,000 after buying an additional 258 shares during the last quarter. Quarry LP increased its position in Urban Outfitters by 32.3% in the third 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. Signaturefd LLC increased its position in Urban Outfitters by 15.5% in the second quarter. Signaturefd LLC now owns 2,230 shares of the apparel retailer’s stock worth $92,000 after buying an additional 299 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Urban Outfitters by 138.8% in the third quarter. Blue Trust Inc. now owns 609 shares of the apparel retailer’s stock worth $25,000 after buying an additional 354 shares during the last quarter. 77.61% of the stock is owned by hedge funds and other institutional investors.

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.