Morgan Stanley Boosts Urban Outfitters (NASDAQ:URBN) Price Target to $41.00

Urban Outfitters (NASDAQ:URBN) had its price objective boosted by research analysts at Morgan Stanley from $38.00 to $41.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the apparel retailer’s stock. Morgan Stanley’s price objective would suggest a potential downside of 13.67% from the stock’s previous close.

Several other analysts have also recently commented on URBN. Barclays boosted their price target on Urban Outfitters from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday. Robert W. Baird upped their target price on shares of Urban Outfitters from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday. Jefferies Financial Group reduced their target price on shares of Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating for the company in a research report on Thursday, August 22nd. Bank of America boosted their price target on shares of Urban Outfitters from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, BMO Capital Markets dropped their price objective on shares of Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating for the company in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Urban Outfitters currently has a consensus rating of “Hold” and an average price target of $46.27.

Urban Outfitters Stock Up 18.3 %

URBN opened at $47.49 on Wednesday. The firm’s fifty day simple moving average is $37.44 and its two-hundred day simple moving average is $40.11. Urban Outfitters has a 52-week low of $33.17 and a 52-week high of $48.90. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 0.95 and a beta of 1.50.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.28. Urban Outfitters had a net margin of 5.83% and a return on equity of 15.49%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the company posted $0.88 EPS. Urban Outfitters’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, research analysts forecast that Urban Outfitters will post 3.65 EPS for the current year.

Insider Activity

In other news, CEO Tricia D. Smith sold 11,730 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of URBN. CANADA LIFE ASSURANCE Co raised its stake in shares of Urban Outfitters by 5.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 62,583 shares of the apparel retailer’s stock valued at $2,717,000 after acquiring an additional 2,953 shares during the period. Lazard Asset Management LLC lifted its stake in Urban Outfitters by 96.6% during the first quarter. Lazard Asset Management LLC now owns 6,815 shares of the apparel retailer’s stock worth $295,000 after purchasing an additional 3,348 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Urban Outfitters by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 33,202 shares of the apparel retailer’s stock worth $1,442,000 after buying an additional 2,307 shares during the period. Tidal Investments LLC grew its stake in shares of Urban Outfitters by 5.8% in the first quarter. Tidal Investments LLC now owns 18,575 shares of the apparel retailer’s stock valued at $807,000 after buying an additional 1,016 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Urban Outfitters by 287.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 46,300 shares of the apparel retailer’s stock valued at $1,901,000 after buying an additional 34,350 shares during the period. Institutional investors and hedge funds own 77.61% of the company’s stock.

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.