Citigroup Forecasts Strong Price Appreciation for Urban Outfitters (NASDAQ:URBN) Stock

Urban Outfitters (NASDAQ:URBN) had its target price raised by Citigroup from $39.00 to $42.00 in a report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the apparel retailer’s stock.

Several other equities research analysts also recently issued reports on the company. Morgan Stanley dropped their target price on Urban Outfitters from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Wells Fargo & Company dropped their target price on Urban Outfitters from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Jefferies Financial Group dropped their target price on Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating on the stock in a research 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 research report on Thursday, August 22nd. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $44.00 price objective on shares of Urban Outfitters in a research report on Wednesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Urban Outfitters currently has an average rating of “Hold” and an average target price of $42.27.

Urban Outfitters Stock Up 4.3 %

URBN stock opened at $38.98 on Wednesday. The firm has a market cap of $3.60 billion, a PE ratio of 11.92, a P/E/G ratio of 0.88 and a beta of 1.50. The business has a 50 day moving average of $37.11 and a 200-day moving average of $40.07. Urban Outfitters has a 12-month low of $31.41 and a 12-month high of $48.90.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings data on Wednesday, August 21st. The apparel retailer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.24. Urban Outfitters had a return on equity of 15.49% and a net margin of 5.83%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the company earned $1.10 earnings per share. Urban Outfitters’s revenue was up 6.3% compared to the same quarter last year. On average, research analysts expect that Urban Outfitters will post 3.65 earnings per share for the current year.

Insider Activity at Urban Outfitters

In related news, CEO Tricia D. Smith sold 11,730 shares of the company’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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 31.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Urban Outfitters

Hedge funds have recently added to or reduced their stakes in the company. QRG Capital Management Inc. grew its stake in Urban Outfitters by 2.4% in the 2nd quarter. QRG Capital Management Inc. now owns 9,327 shares of the apparel retailer’s stock worth $383,000 after acquiring an additional 221 shares in the last quarter. Evergreen Capital Management LLC grew its stake in Urban Outfitters by 2.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 9,361 shares of the apparel retailer’s stock worth $384,000 after acquiring an additional 258 shares in the last quarter. Quarry LP grew 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 worth $47,000 after acquiring an additional 298 shares in the last quarter. Signaturefd LLC grew its stake in Urban Outfitters by 15.5% in the 2nd quarter. Signaturefd LLC now owns 2,230 shares of the apparel retailer’s stock worth $92,000 after acquiring an additional 299 shares in the last quarter. Finally, Blue Trust Inc. grew its stake 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 acquiring an additional 354 shares in the last quarter. 77.61% of the stock is currently owned by institutional investors.

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.