Barclays Forecasts Strong Price Appreciation for Urban Outfitters (NASDAQ:URBN) Stock

Urban Outfitters (NASDAQ:URBN) had its price target raised by analysts at Barclays from $63.00 to $68.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the apparel retailer’s stock. Barclays‘s price target would suggest a potential upside of 16.86% from the stock’s current price.

Several other brokerages have also commented on URBN. Citigroup raised 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 report on Wednesday, November 27th. Wells Fargo & Company increased their price target on shares of Urban Outfitters from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday. UBS Group lifted their price objective on shares of Urban Outfitters from $45.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Morgan Stanley raised Urban Outfitters from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $41.00 to $63.00 in a research note on Tuesday, January 21st. Finally, Robert W. Baird lifted their price target on Urban Outfitters from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $56.00.

Urban Outfitters Stock Up 1.6 %

NASDAQ:URBN traded up $0.94 during mid-day trading on Friday, hitting $58.19. 3,008,294 shares of the stock traded hands, compared to its average volume of 1,923,395. The business’s 50-day moving average price is $55.85 and its 200 day moving average price is $45.42. The company has a market cap of $5.37 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 1.02 and a beta of 1.54. Urban Outfitters has a 12-month low of $33.86 and a 12-month high of $60.90.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings results on Wednesday, February 26th. The apparel retailer reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.15. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. Analysts anticipate that Urban Outfitters will post 3.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Urban Outfitters news, Director Harry S. Cherken, Jr. sold 55,000 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $57.31, for a total value of $3,152,050.00. Following the sale, the director now owns 510,296 shares of the company’s stock, valued at $29,245,063.76. This trade represents a 9.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 31.80% of the company’s stock.

Institutional Trading of Urban Outfitters

A number of institutional investors have recently modified their holdings of URBN. Fuller & Thaler Asset Management Inc. lifted its holdings in Urban Outfitters by 183,272.0% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,094,731 shares of the apparel retailer’s stock worth $60,079,000 after buying an additional 1,094,134 shares during the period. Proficio Capital Partners LLC lifted its stake in Urban Outfitters by 5,565.6% in the fourth quarter. Proficio Capital Partners LLC now owns 875,336 shares of the apparel retailer’s stock worth $48,038,000 after acquiring an additional 859,886 shares during the period. Norges Bank bought a new stake in Urban Outfitters in the fourth quarter valued at $31,605,000. Wealthfront Advisers LLC purchased a new position in Urban Outfitters during the 4th quarter valued at $21,140,000. Finally, Voloridge Investment Management LLC bought a new position in Urban Outfitters in the 4th quarter worth $18,513,000. 77.61% of the stock is currently 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.