Urban Outfitters (NASDAQ:URBN) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Urban Outfitters (NASDAQ:URBN) from a hold rating to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

URBN has been the topic of several other research reports. Jefferies Financial Group restated a “hold” rating and issued a $72.00 target price on shares of Urban Outfitters in a report on Thursday, May 21st. Weiss Ratings upgraded shares of Urban Outfitters from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 26th. Wall Street Zen raised Urban Outfitters from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Bank of America raised their price target on Urban Outfitters from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Finally, JPMorgan Chase & Co. lifted their price objective on Urban Outfitters from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Urban Outfitters has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Urban Outfitters Stock Performance

URBN stock opened at $68.02 on Tuesday. The firm has a 50 day moving average price of $71.85 and a 200-day moving average price of $70.53. Urban Outfitters has a 52-week low of $59.53 and a 52-week high of $84.35. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.26 and a beta of 1.22.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.18. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the business posted $1.16 EPS. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Urban Outfitters will post 6.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Urban Outfitters news, insider Azeez Hayne sold 8,733 shares of Urban Outfitters stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $73.18, for a total value of $639,080.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Melanie Marein-Efron sold 5,036 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $73.42, for a total transaction of $369,743.12. Following the completion of the transaction, the chief financial officer directly owned 17,023 shares of the company’s stock, valued at approximately $1,249,828.66. The trade was a 22.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 32.10% of the company’s stock.

Institutional Investors Weigh In On Urban Outfitters

Institutional investors have recently made changes to their positions in the company. Abrams Bison Investments LLC purchased a new stake in Urban Outfitters in the 4th quarter worth about $127,114,000. Capital World Investors bought a new position in shares of Urban Outfitters during the third quarter valued at approximately $60,795,000. Balyasny Asset Management L.P. grew its stake in shares of Urban Outfitters by 5,360.2% during the third quarter. Balyasny Asset Management L.P. now owns 618,152 shares of the apparel retailer’s stock valued at $44,155,000 after buying an additional 606,831 shares during the last quarter. Norges Bank purchased a new stake in shares of Urban Outfitters in the fourth quarter worth approximately $44,191,000. Finally, UBS Group AG raised its holdings in shares of Urban Outfitters by 339.3% in the fourth quarter. UBS Group AG now owns 641,454 shares of the apparel retailer’s stock worth $48,276,000 after buying an additional 495,441 shares during the period. Institutional investors own 77.61% of the company’s stock.

Urban Outfitters Company Profile

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city’s historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.