Urban Outfitters (NASDAQ:URBN) Hits New 52-Week High After Analyst Upgrade

Urban Outfitters, Inc. (NASDAQ:URBN) hit a new 52-week high during mid-day trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $46.00 to $54.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Urban Outfitters traded as high as $59.05 and last traded at $56.69, with a volume of 1527924 shares trading hands. The stock had previously closed at $58.44.

Several other equities research analysts also recently weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Urban Outfitters from $40.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Telsey Advisory Group boosted their price objective on Urban Outfitters from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Citigroup raised 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 report on Wednesday, November 27th. 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 report on Wednesday, November 27th. Finally, StockNews.com upgraded Urban Outfitters from a “hold” rating to a “buy” rating in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Urban Outfitters has an average rating of “Hold” and an average target price of $47.18.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of URBN. Commonwealth Equity Services LLC lifted its holdings in Urban Outfitters by 5.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 9,712 shares of the apparel retailer’s stock worth $399,000 after purchasing an additional 482 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of Urban Outfitters by 7.7% in the second quarter. Natixis Advisors LLC now owns 15,425 shares of the apparel retailer’s stock worth $633,000 after buying an additional 1,106 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Urban Outfitters by 0.9% during the 2nd quarter. Rhumbline Advisers now owns 180,474 shares of the apparel retailer’s stock worth $7,408,000 after buying an additional 1,649 shares during the period. TD Asset Management Inc raised its holdings in Urban Outfitters by 123.7% in the 2nd quarter. TD Asset Management Inc now owns 17,000 shares of the apparel retailer’s stock worth $698,000 after acquiring an additional 9,400 shares during the period. Finally, Arizona State Retirement System raised its holdings in Urban Outfitters by 2.4% in the 2nd quarter. Arizona State Retirement System now owns 16,976 shares of the apparel retailer’s stock worth $697,000 after acquiring an additional 401 shares during the period. Institutional investors and hedge funds own 77.61% of the company’s stock.

Urban Outfitters Price Performance

The company has a market capitalization of $5.27 billion, a P/E ratio of 16.36, a PEG ratio of 1.10 and a beta of 1.55. The stock’s fifty day simple moving average is $47.86 and its 200-day simple moving average is $42.56.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings data on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.25. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. Urban Outfitters’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $0.88 earnings per share. On average, research analysts predict that Urban Outfitters, Inc. will post 3.88 earnings per share for the current year.

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.