Urban Outfitters (NASDAQ:URBN) Upgraded by Citigroup to Buy Rating

Urban Outfitters (NASDAQ:URBN) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Wednesday,Benzinga reports. The firm presently has a $59.00 target price on the apparel retailer’s stock, up from their prior target price of $42.00. Citigroup’s price target indicates a potential upside of 46.99% from the company’s previous close.

A number of other research firms also recently commented on URBN. Barclays cut their price objective on Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday, August 22nd. Jefferies Financial Group reduced their price target on shares of Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating on the stock in a research report on Thursday, August 22nd. Telsey Advisory Group raised 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. Morgan Stanley decreased their price target on shares of Urban Outfitters from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company reduced their price objective on Urban Outfitters from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Urban Outfitters presently has a consensus rating of “Hold” and an average price target of $44.00.

Urban Outfitters Price Performance

Shares of URBN stock opened at $40.14 on Wednesday. The firm’s 50-day simple moving average is $37.18 and its 200-day simple moving average is $40.06. Urban Outfitters has a 1-year low of $32.02 and a 1-year high of $48.90. The firm has a market cap of $3.70 billion, a P/E ratio of 12.28, a PEG ratio of 0.95 and a beta of 1.50.

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 analysts’ consensus estimates of $0.82 by $0.28. The company 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 5.83% and a return on equity of 15.49%. Urban Outfitters’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 earnings per share. Analysts expect that Urban Outfitters will post 3.65 earnings per share for the current fiscal year.

Insider Buying and Selling

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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 31.80% of the company’s stock.

Institutional Trading of Urban Outfitters

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of Urban Outfitters by 138.8% during the third quarter. Blue Trust Inc. now owns 609 shares of the apparel retailer’s stock worth $25,000 after purchasing an additional 354 shares during the period. Quarry LP boosted its stake in Urban Outfitters by 1,825.0% in the second quarter. Quarry LP now owns 924 shares of the apparel retailer’s stock valued at $38,000 after acquiring an additional 876 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of Urban Outfitters during the second quarter valued at approximately $42,000. Asset Management One Co. Ltd. acquired a new stake in Urban Outfitters in the third quarter worth $47,000. Finally, Meeder Asset Management Inc. bought a new stake in Urban Outfitters in the second quarter valued at $48,000. 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.