Urban Outfitters (NASDAQ:URBN) Stock Rating Upgraded by Citigroup

Urban Outfitters (NASDAQ:URBN) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a report released on Wednesday, MarketBeat Ratings reports. The firm presently has a $59.00 price target on the apparel retailer’s stock, up from their prior price target of $42.00. Citigroup’s price objective indicates a potential upside of 24.24% from the stock’s previous close.

Several other research firms have also recently issued reports on URBN. Wells Fargo & Company decreased their price target on Urban Outfitters from $48.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Jefferies Financial Group decreased their price objective on shares of Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday, August 22nd. Bank of America dropped their target price on Urban Outfitters from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Barclays lowered their price target on Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, August 22nd. Finally, BMO Capital Markets cut their price objective on Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating for the company in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Urban Outfitters presently has an average rating of “Hold” and an average target price of $46.27.

Urban Outfitters Trading Up 18.3 %

Shares of NASDAQ URBN opened at $47.49 on Wednesday. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 0.95 and a beta of 1.50. The stock’s 50 day simple moving average is $37.44 and its 200 day simple moving average is $40.11. Urban Outfitters has a 12-month low of $33.17 and a 12-month high of $48.90.

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, beating the consensus estimate of $0.82 by $0.28. Urban Outfitters had a net margin of 5.83% and a return on equity of 15.49%. 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 previous year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities analysts forecast that Urban Outfitters will post 3.65 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Tricia D. Smith sold 11,730 shares of Urban Outfitters stock in a transaction on Friday, September 6th. The stock was sold at an average price of $35.29, for a total transaction of $413,951.70. The sale was disclosed in a filing with the SEC, which is available at this link. 31.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Urban Outfitters

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. lifted its position in Urban Outfitters by 138.8% in the 3rd quarter. Blue Trust Inc. now owns 609 shares of the apparel retailer’s stock worth $25,000 after buying an additional 354 shares in the last quarter. Quarry LP increased its holdings 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 valued at $38,000 after acquiring an additional 876 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Urban Outfitters during the second quarter valued at approximately $42,000. Asset Management One Co. Ltd. acquired a new position in Urban Outfitters in the 3rd quarter valued at $47,000. Finally, Meeder Asset Management Inc. acquired a new position in Urban Outfitters during the 2nd quarter worth $48,000. 77.61% of the stock is currently 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.