Urban Outfitters (NASDAQ:URBN) Sets New 1-Year High – Time to Buy?

Shares of Urban Outfitters, Inc. (NASDAQ:URBN) reached a new 52-week high on Wednesday . The company traded as high as $60.57 and last traded at $60.44, with a volume of 3273683 shares changing hands. The stock had previously closed at $55.01.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Robert W. Baird upped their price target on Urban Outfitters from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Citigroup upgraded shares of Urban Outfitters from a “neutral” rating to a “buy” rating and upped their target price for the stock from $42.00 to $59.00 in a research note on Wednesday, November 27th. Wells Fargo & Company raised their price target on shares of Urban Outfitters from $48.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday, January 10th. Morgan Stanley raised shares of Urban Outfitters from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $41.00 to $63.00 in a research report on Tuesday. Finally, Telsey Advisory Group lifted their target price on shares of Urban Outfitters from $46.00 to $56.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.64.

Urban Outfitters Price Performance

The firm has a fifty day simple moving average of $51.66 and a two-hundred day simple moving average of $43.50. The firm has a market capitalization of $5.45 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 1.25 and a beta of 1.55.

Urban Outfitters (NASDAQ:URBN) last posted 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 $0.85 by $0.25. 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 during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company earned $0.88 EPS. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, research analysts anticipate that Urban Outfitters, Inc. will post 3.91 EPS for the current year.

Insider Transactions at Urban Outfitters

In related news, Director Harry S. Cherken, Jr. sold 55,000 shares of Urban Outfitters stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 510,296 shares in the company, valued at approximately $29,245,063.76. The trade was a 9.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 31.80% of the company’s stock.

Hedge Funds Weigh In On Urban Outfitters

Large investors have recently made changes to their positions in the stock. Hsbc Holdings PLC boosted its stake in Urban Outfitters by 60.7% in the 2nd quarter. Hsbc Holdings PLC now owns 23,577 shares of the apparel retailer’s stock worth $971,000 after purchasing an additional 8,904 shares during the period. XTX Topco Ltd purchased a new stake in shares of Urban Outfitters in the second quarter worth about $224,000. ProShare Advisors LLC boosted its position in shares of Urban Outfitters by 52.4% in the second quarter. ProShare Advisors LLC now owns 19,374 shares of the apparel retailer’s stock valued at $795,000 after acquiring an additional 6,662 shares during the period. Public Sector Pension Investment Board grew its stake in Urban Outfitters by 7.6% during the second quarter. Public Sector Pension Investment Board now owns 124,801 shares of the apparel retailer’s stock valued at $5,123,000 after acquiring an additional 8,783 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in Urban Outfitters by 2.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 9,361 shares of the apparel retailer’s stock worth $384,000 after acquiring an additional 258 shares during the period. 77.61% of the stock is owned by 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.