Needham & Company LLC Upgrades Urban Outfitters (NASDAQ:URBN) to Moderate Buy

Urban Outfitters (NASDAQ:URBN) was upgraded by research analysts at Needham & Company LLC to a “moderate buy” rating in a note issued to investors on Friday, Zacks reports.

Other research analysts also recently issued reports about the company. Barclays lifted their price objective on Urban Outfitters from $100.00 to $102.00 and gave the stock an “overweight” rating in a research report on Thursday, August 27th. UBS Group increased their target price on Urban Outfitters from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, August 27th. Morgan Stanley reissued an “overweight” rating and issued a $90.00 price objective on shares of Urban Outfitters in a research report on Thursday, August 27th. BMO Capital Markets began coverage on Urban Outfitters in a research report on Tuesday, September 8th. They set a “market perform” rating and a $80.00 price target on the stock. Finally, Zacks Research downgraded Urban Outfitters from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 14th. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.54.

Urban Outfitters Trading Down 0.9%

URBN stock traded down $0.83 on Friday, hitting $86.57. The company’s stock had a trading volume of 1,286,225 shares, compared to its average volume of 1,110,594. The firm has a 50 day moving average of $78.46 and a two-hundred day moving average of $74.01. Urban Outfitters has a 1 year low of $59.53 and a 1 year high of $90.59. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.37 and a beta of 1.24.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings results on Thursday, August 27th. The apparel retailer reported $1.72 earnings per share for the quarter, hitting the consensus estimate of $1.72. Urban Outfitters had a return on equity of 18.64% and a net margin of 8.79%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the company earned $1.58 earnings per share. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, equities analysts forecast that Urban Outfitters will post 6.20 EPS for the current fiscal year.

Insider Transactions at Urban Outfitters

In related news, CEO Tricia Smith sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $75.95, for a total transaction of $265,825.00. Following the completion of the sale, the chief executive officer directly owned 30,112 shares in the company, valued at approximately $2,287,006.40. This trade represents a 10.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Harry S. Cherken, Jr. sold 5,000 shares of Urban Outfitters stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $87.06, for a total value of $435,300.00. Following the completion of the transaction, the director owned 494,315 shares in the company, valued at $43,035,063.90. The trade was a 1.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 14,200 shares of company stock valued at $1,161,400 in the last quarter. Insiders own 32.10% of the company’s stock.

Institutional Investors Weigh In On Urban Outfitters

Several large investors have recently made changes to their positions in the company. Allworth Financial LP acquired a new stake in shares of Urban Outfitters in the second quarter worth about $31,000. Kilter Group LLC bought a new position in shares of Urban Outfitters in the 2nd quarter valued at approximately $35,000. NewEdge Advisors LLC raised its stake in shares of Urban Outfitters by 87.0% in the 2nd quarter. NewEdge Advisors LLC now owns 531 shares of the apparel retailer’s stock valued at $38,000 after acquiring an additional 247 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Urban Outfitters in the 4th quarter worth approximately $47,000. Finally, Farther Finance Advisors LLC lifted its holdings in Urban Outfitters by 39.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,167 shares of the apparel retailer’s stock worth $89,000 after purchasing an additional 331 shares during the last quarter. Institutional investors own 77.61% of the company’s stock.

About Urban Outfitters

Urban Outfitters, Inc is a lifestyle retail company that offers apparel, accessories, beauty products, home furnishings, and other lifestyle merchandise through stores and digital channels. Its brands target a range of customer groups and aesthetic preferences, from contemporary fashion and eclectic home goods to activewear and rental apparel.

The company’s portfolio includes Urban Outfitters, Anthropologie, Free People, FP Movement, Terrain, and Nuuly. Urban Outfitters focuses on fashion-forward apparel, accessories, and home products; Anthropologie offers women’s clothing, accessories, beauty products, and home furnishings; and Free People and FP Movement specialize in women’s apparel and activewear.