Urban Outfitters (NASDAQ:URBN) Raised to Strong-Buy at Wall Street Zen

Urban Outfitters (NASDAQ:URBN) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

Other analysts also recently issued reports about the stock. Morgan Stanley boosted their target price on shares of Urban Outfitters from $82.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Barclays reissued an “overweight” rating and issued a $89.00 price objective on shares of Urban Outfitters in a research note on Friday, August 29th. Wells Fargo & Company raised their price objective on Urban Outfitters from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Urban Outfitters in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Urban Outfitters from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $81.91.

Urban Outfitters Trading Up 0.4%

NASDAQ URBN opened at $66.89 on Friday. Urban Outfitters has a 1 year low of $34.76 and a 1 year high of $80.71. The company has a market cap of $6.00 billion, a PE ratio of 13.06, a PEG ratio of 1.05 and a beta of 1.26. The stock’s 50-day moving average price is $72.05 and its two-hundred day moving average price is $67.22.

Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Wednesday, August 27th. The apparel retailer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.44 by $0.14. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.43%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period last year, the company posted $1.24 earnings per share. Research analysts forecast that Urban Outfitters will post 3.91 EPS for the current fiscal year.

Insider Activity at Urban Outfitters

In other Urban Outfitters news, CEO Richard A. Hayne sold 9,333 shares of the firm’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $70.11, for a total transaction of $654,336.63. Following the transaction, the chief executive officer directly owned 2,430,722 shares in the company, valued at $170,417,919.42. This trade represents a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Egan sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $70.12, for a total value of $70,120.00. Following the completion of the sale, the director directly owned 14,250 shares of the company’s stock, valued at $999,210. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,400 shares of company stock valued at $3,118,738. 31.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Nuveen LLC bought a new position in shares of Urban Outfitters in the first quarter worth about $43,769,000. Norges Bank acquired a new stake in Urban Outfitters in the 2nd quarter valued at approximately $55,429,000. Qube Research & Technologies Ltd grew its holdings in Urban Outfitters by 59.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,287,096 shares of the apparel retailer’s stock valued at $93,366,000 after buying an additional 477,909 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Urban Outfitters by 150.5% during the second quarter. Marshall Wace LLP now owns 617,527 shares of the apparel retailer’s stock worth $44,795,000 after buying an additional 371,058 shares during the last quarter. Finally, Boston Partners acquired a new position in shares of Urban Outfitters during the first quarter worth approximately $18,380,000. 77.61% of the stock is 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.