Morgan Stanley Boosts Urban Outfitters (NASDAQ:URBN) Price Target to $41.00

Urban Outfitters (NASDAQ:URBN) had its target price raised by Morgan Stanley from $38.00 to $41.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the apparel retailer’s stock.

URBN has been the topic of a number of other research reports. Citigroup raised shares of Urban Outfitters from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $42.00 to $59.00 in a research report on Wednesday. Robert W. Baird upped their price objective on shares of Urban Outfitters from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday. Telsey Advisory Group increased their target price on shares of Urban Outfitters from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Wednesday. BMO Capital Markets lowered their price target on Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating on the stock in a research note on Thursday, August 22nd. Finally, Jefferies Financial Group reduced their price objective on Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating for the company in a research report on Thursday, August 22nd. One 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. According to data from MarketBeat.com, Urban Outfitters has a consensus rating of “Hold” and a consensus price target of $46.27.

Urban Outfitters Price Performance

URBN stock opened at $47.49 on Wednesday. The company has a 50-day moving average of $37.24 and a two-hundred day moving average of $40.06. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth 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.

Urban Outfitters (NASDAQ:URBN) last released its earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.28. Urban Outfitters had a return on equity of 15.49% and a net margin of 5.83%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm posted $0.88 EPS. The company’s revenue was up 6.3% on a year-over-year basis. Equities analysts expect that Urban Outfitters will post 3.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Tricia D. Smith sold 11,730 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $35.29, for a total value of $413,951.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 31.80% of the company’s stock.

Hedge Funds Weigh In On Urban Outfitters

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of 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 in the last quarter. Marshall Wace LLP grew its position in Urban Outfitters by 116.3% during the 2nd quarter. Marshall Wace LLP now owns 2,288,817 shares of the apparel retailer’s stock worth $93,956,000 after acquiring an additional 1,230,771 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Urban Outfitters by 3.1% during the 3rd 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. increased its holdings in Urban Outfitters by 20.5% during the 2nd quarter. American Century Companies Inc. now owns 1,555,067 shares of the apparel retailer’s stock valued at $63,836,000 after purchasing an additional 264,708 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Urban Outfitters by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer’s stock valued at $56,765,000 after purchasing an additional 18,249 shares during the last quarter. 77.61% of the stock is owned by institutional investors.

Urban Outfitters Company Profile

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.