Urban Outfitters (NASDAQ:URBN) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Urban Outfitters (NASDAQ:URBN) from a hold rating to a buy rating in a research note published on Friday morning.

Several other brokerages have also commented on URBN. UBS Group lifted their price target on shares of Urban Outfitters from $43.00 to $45.00 and gave the stock a neutral rating in a research note on Tuesday, May 28th. BMO Capital Markets dropped their price objective on shares of Urban Outfitters from $42.00 to $39.00 and set a market perform rating on the stock in a research note on Thursday, August 22nd. Barclays dropped their price objective on shares of Urban Outfitters from $52.00 to $43.00 and set an overweight rating on the stock in a research note on Thursday, August 22nd. Wells Fargo & Company dropped their price objective on shares of Urban Outfitters from $48.00 to $40.00 and set an equal weight rating on the stock in a research note on Thursday, August 22nd. Finally, Morgan Stanley dropped their price objective on shares of Urban Outfitters from $40.00 to $38.00 and set an equal weight rating on the stock in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Urban Outfitters has an average rating of Hold and a consensus target price of $42.30.

Urban Outfitters Price Performance

Shares of NASDAQ:URBN opened at $36.77 on Friday. The company’s fifty day moving average price is $40.25 and its 200 day moving average price is $41.22. Urban Outfitters has a 12 month low of $30.05 and a 12 month high of $48.90. The firm has a market capitalization of $3.43 billion, a P/E ratio of 11.75, a P/E/G ratio of 0.89 and a beta of 1.50.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Wednesday, August 21st. The apparel retailer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.00 by $0.24. Urban Outfitters had a net margin of 5.83% and a return on equity of 15.49%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the business earned $1.10 EPS. Urban Outfitters’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Urban Outfitters will post 3.63 EPS for the current year.

Insider Transactions at Urban Outfitters

In other news, Director Harry S. Cherken, Jr. sold 5,000 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $48.30, for a total transaction of $241,500.00. Following the transaction, the director now directly owns 565,296 shares in the company, valued at $27,303,796.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Tricia D. Smith sold 11,730 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $35.29, for a total transaction of $413,951.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Harry S. Cherken, Jr. sold 5,000 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $48.30, for a total transaction of $241,500.00. Following the sale, the director now directly owns 565,296 shares in the company, valued at approximately $27,303,796.80. The disclosure for this sale can be found here. Company insiders own 31.80% of the company’s stock.

Institutional Trading of Urban Outfitters

Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC lifted its holdings in shares of Urban Outfitters by 89.7% in the fourth quarter. Parallel Advisors LLC now owns 882 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 417 shares in the last quarter. Quarry LP lifted its holdings in shares of Urban Outfitters by 1,825.0% in the second quarter. Quarry LP now owns 924 shares of the apparel retailer’s stock valued at $38,000 after purchasing an additional 876 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Urban Outfitters in the second quarter valued at about $42,000. Meeder Asset Management Inc. acquired a new position in shares of Urban Outfitters in the second quarter valued at approximately $48,000. Finally, Innealta Capital LLC acquired a new position in shares of Urban Outfitters in the second quarter valued at approximately $70,000. Hedge funds and other institutional investors 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.