Urban Outfitters (NASDAQ:URBN) Price Target Raised to $53.00 at Bank of America

Urban Outfitters (NASDAQ:URBN) had its price target boosted by Bank of America from $46.00 to $53.00 in a research note released on Wednesday morning,Benzinga reports. Bank of America currently has a buy rating on the apparel retailer’s stock.

Other equities analysts have also issued research reports about the stock. Citigroup upgraded shares of Urban Outfitters from a “neutral” rating to a “buy” rating and upped their price target for the stock from $42.00 to $59.00 in a research report on Wednesday. Wells Fargo & Company dropped their price target on shares of 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. StockNews.com downgraded Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Telsey Advisory Group raised their target price on Urban Outfitters from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday. Finally, Morgan Stanley reduced their price target on 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $46.27.

Urban Outfitters Stock Up 18.3 %

Shares of NASDAQ URBN opened at $47.49 on Wednesday. The firm’s 50-day moving average price is $37.24 and its two-hundred day moving average price is $40.06. Urban Outfitters has a 52-week low of $33.17 and a 52-week high of $48.90. The stock has a market capitalization of $4.38 billion, a P/E ratio of 14.52, a P/E/G ratio of 0.95 and a beta of 1.50.

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

Insiders Place Their Bets

In other news, CEO Tricia D. Smith sold 11,730 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $35.29, for a total transaction of $413,951.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 31.80% of the stock is owned by company insiders.

Institutional Trading of Urban Outfitters

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its position in Urban Outfitters by 138.8% in the third quarter. Blue Trust Inc. now owns 609 shares of the apparel retailer’s stock worth $25,000 after buying an additional 354 shares during the last quarter. Quarry LP boosted its stake in shares of Urban Outfitters by 1,825.0% during the 2nd quarter. Quarry LP now owns 924 shares of the apparel retailer’s stock worth $38,000 after acquiring an additional 876 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Urban Outfitters in the 2nd quarter worth $42,000. Asset Management One Co. Ltd. acquired a new stake in shares of Urban Outfitters during the third quarter worth $47,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Urban Outfitters during the second quarter valued at $48,000. 77.61% of the stock is owned by institutional investors and hedge funds.

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.