Urban Outfitters (NASDAQ:URBN) Upgraded to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Urban Outfitters (NASDAQ:URBN) from an equal weight rating to an overweight rating in a report issued on Tuesday, Marketbeat.com reports. The firm currently has $63.00 price target on the apparel retailer’s stock, up from their prior price target of $41.00.

Other analysts have also recently issued 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 company from $42.00 to $59.00 in a research note on Wednesday, November 27th. Bank of America increased their target price on shares of Urban Outfitters from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Barclays increased their target price on shares of Urban Outfitters from $51.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. UBS Group increased their target price on shares of Urban Outfitters from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, Telsey Advisory Group increased 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 note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $53.64.

Urban Outfitters Trading Up 9.9 %

Shares of URBN stock opened at $60.44 on Tuesday. The stock has a market capitalization of $5.58 billion, a P/E ratio of 17.32, a PEG ratio of 1.14 and a beta of 1.55. The firm’s 50 day moving average is $50.86 and its 200 day moving average is $43.28. Urban Outfitters has a 12 month low of $33.86 and a 12 month high of $60.57.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.25. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. Urban Outfitters’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 EPS. On average, equities analysts predict that Urban Outfitters will post 3.9 EPS for the current year.

Insider Activity at Urban Outfitters

In related news, Director Harry S. Cherken, Jr. sold 55,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $57.31, for a total transaction of $3,152,050.00. Following the transaction, the director now owns 510,296 shares of the company’s stock, valued at approximately $29,245,063.76. This trade represents a 9.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 31.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Urban Outfitters

A number of large investors have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Urban Outfitters by 1.1% in the 3rd quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer’s stock worth $107,244,000 after acquiring an additional 31,100 shares during the last quarter. Marshall Wace LLP grew its holdings in Urban Outfitters by 116.3% in the 2nd quarter. Marshall Wace LLP now owns 2,288,817 shares of the apparel retailer’s stock worth $93,956,000 after acquiring an additional 1,230,771 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Urban Outfitters by 3.1% in the 3rd quarter. Fisher Asset Management LLC now owns 2,073,416 shares of the apparel retailer’s stock worth $79,433,000 after acquiring an additional 62,019 shares during the last quarter. Geode Capital Management LLC grew its holdings in Urban Outfitters by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer’s stock worth $56,765,000 after acquiring an additional 18,249 shares during the last quarter. Finally, Systematic Financial Management LP lifted its position in shares of Urban Outfitters by 5.5% in the 3rd quarter. Systematic Financial Management LP now owns 721,732 shares of the apparel retailer’s stock worth $27,650,000 after purchasing an additional 37,599 shares during the period. Institutional investors own 77.61% of the company’s stock.

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.