Urban Outfitters (NASDAQ:URBN) Sets New 12-Month High After Analyst Upgrade

Urban Outfitters, Inc. (NASDAQ:URBN)’s share price reached a new 52-week high during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $46.00 to $54.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Urban Outfitters traded as high as $59.05 and last traded at $56.69, with a volume of 1527924 shares. The stock had previously closed at $58.44.

Other equities analysts have also issued reports about the stock. 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 research report on Wednesday, November 27th. Barclays upped their price target on Urban Outfitters from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Morgan Stanley lifted their price objective on Urban Outfitters from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Bank of America upped their target price on shares of Urban Outfitters from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Citigroup upgraded shares of Urban Outfitters from a “neutral” rating to a “buy” rating and increased their price objective for the company from $42.00 to $59.00 in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $47.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of 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 buying an additional 202 shares during the last quarter. Evergreen Capital Management LLC lifted its stake in Urban Outfitters by 2.8% in the second quarter. Evergreen Capital Management LLC now owns 9,361 shares of the apparel retailer’s stock valued at $384,000 after acquiring an additional 258 shares during the last quarter. Quarry LP lifted its stake in Urban Outfitters by 32.3% in 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 during the last quarter. Blue Trust Inc. lifted its position in shares of Urban Outfitters by 138.8% in the third quarter. Blue Trust Inc. now owns 609 shares of the apparel retailer’s stock valued at $25,000 after buying an additional 354 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in Urban Outfitters by 2.4% during the second quarter. Arizona State Retirement System now owns 16,976 shares of the apparel retailer’s stock worth $697,000 after purchasing an additional 401 shares during the period. 77.61% of the stock is owned by institutional investors and hedge funds.

Urban Outfitters Stock Up 0.7 %

The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 1.10 and a beta of 1.55. The company’s fifty day simple moving average is $47.86 and its 200 day simple moving average is $42.56.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.25. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the firm earned $0.88 EPS. The business’s revenue was up 6.3% on a year-over-year basis. As a group, analysts anticipate that Urban Outfitters, Inc. will post 3.88 earnings per share for the current year.

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.