Citigroup Cuts Urban Outfitters (NASDAQ:URBN) Price Target to $54.00

Urban Outfitters (NASDAQ:URBN) had its price target reduced by Citigroup from $65.00 to $54.00 in a report issued on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the apparel retailer’s stock.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company upped their price target on shares of Urban Outfitters from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Robert W. Baird upped their target price on Urban Outfitters from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Telsey Advisory Group raised their price target on Urban Outfitters from $56.00 to $59.00 and gave the stock a “market perform” rating in a research note on Thursday, February 27th. Barclays boosted their price objective on Urban Outfitters from $63.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, UBS Group increased their target price on Urban Outfitters from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Urban Outfitters presently has an average rating of “Hold” and an average price target of $55.55.

Urban Outfitters Price Performance

NASDAQ:URBN opened at $48.42 on Tuesday. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 1.02 and a beta of 1.37. The business has a 50 day simple moving average of $52.84 and a 200-day simple moving average of $48.47. Urban Outfitters has a 1 year low of $33.86 and a 1 year high of $61.16.

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

Insider Buying and Selling at Urban Outfitters

In other Urban Outfitters news, Director Wesley S. Mcdonald sold 8,300 shares of Urban Outfitters stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $58.44, for a total value of $485,052.00. Following the transaction, the director now directly owns 15,450 shares of the company’s stock, valued at approximately $902,898. The trade was a 34.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry S. Cherken, Jr. sold 15,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $50.50, for a total value of $757,500.00. Following the sale, the director now owns 495,296 shares of the company’s stock, valued at approximately $25,012,448. This represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,976 shares of company stock valued at $2,421,213. 31.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in URBN. Whipplewood Advisors LLC boosted its holdings in Urban Outfitters by 2,893.8% in the first quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer’s stock worth $25,000 after acquiring an additional 463 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Urban Outfitters by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 525 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. GAMMA Investing LLC grew its position in Urban Outfitters by 36.3% during the 4th quarter. GAMMA Investing LLC now owns 759 shares of the apparel retailer’s stock worth $42,000 after purchasing an additional 202 shares during the last quarter. Quarry LP increased its stake in Urban Outfitters by 32.3% during the 3rd quarter. Quarry LP now owns 1,222 shares of the apparel retailer’s stock valued at $47,000 after purchasing an additional 298 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Urban Outfitters by 315.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,482 shares of the apparel retailer’s stock worth $82,000 after buying an additional 1,125 shares during the last quarter. 77.61% of the stock is owned by institutional investors and hedge funds.

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.