Urban Outfitters (NASDAQ:URBN) PT Raised to $33.00

Urban Outfitters (NASDAQ:URBN) had its target price raised by equities research analysts at Wedbush from $20.00 to $33.00 in a report issued on Tuesday, The Fly reports. The firm currently has a “neutral” rating on the apparel retailer’s stock. Wedbush’s price target points to a potential upside of 7.60% from the company’s previous close. Wedbush also issued estimates for Urban Outfitters’ FY2021 earnings at $2.65 EPS.

URBN has been the subject of a number of other reports. MKM Partners dropped their price objective on shares of Urban Outfitters to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, August 21st. Robert W. Baird dropped their price target on shares of Urban Outfitters from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, August 21st. Morgan Stanley decreased their price objective on shares of Urban Outfitters from $42.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Deutsche Bank decreased their price objective on shares of Urban Outfitters from $29.00 to $28.00 and set a “hold” rating for the company in a report on Friday, August 16th. Finally, Jefferies Financial Group set a $35.00 price target on shares of Urban Outfitters and gave the company a “buy” rating in a report on Wednesday, August 21st. Thirteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Urban Outfitters currently has an average rating of “Hold” and a consensus target price of $30.44.

URBN traded down $0.16 during midday trading on Tuesday, reaching $30.67. The company’s stock had a trading volume of 60,644 shares, compared to its average volume of 2,826,252. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 1.28 and a beta of 0.77. The company has a current ratio of 1.60, a quick ratio of 0.89 and a debt-to-equity ratio of 0.80. Urban Outfitters has a 1 year low of $19.63 and a 1 year high of $40.10. The stock’s 50-day moving average is $28.06 and its 200-day moving average is $25.11.

Urban Outfitters (NASDAQ:URBN) last issued its earnings results on Tuesday, August 20th. The apparel retailer reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Urban Outfitters had a net margin of 6.54% and a return on equity of 18.10%. The company had revenue of $962.30 million for the quarter, compared to analysts’ expectations of $981.40 million. During the same quarter last year, the company posted $0.84 earnings per share. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. As a group, equities research analysts forecast that Urban Outfitters will post 2.28 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. WINTON GROUP Ltd boosted its stake in Urban Outfitters by 1,178.2% during the 2nd quarter. WINTON GROUP Ltd now owns 145,822 shares of the apparel retailer’s stock valued at $3,317,000 after purchasing an additional 134,414 shares during the last quarter. Empowered Funds LLC boosted its stake in Urban Outfitters by 10.0% during the 2nd quarter. Empowered Funds LLC now owns 91,869 shares of the apparel retailer’s stock valued at $2,090,000 after purchasing an additional 8,357 shares during the last quarter. Boenning & Scattergood Inc. boosted its stake in Urban Outfitters by 7.3% during the 2nd quarter. Boenning & Scattergood Inc. now owns 58,569 shares of the apparel retailer’s stock valued at $1,332,000 after purchasing an additional 4,000 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Urban Outfitters by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 30,647 shares of the apparel retailer’s stock valued at $697,000 after purchasing an additional 431 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Urban Outfitters during the 2nd quarter valued at about $631,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

About Urban Outfitters

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates in two segments, Retail and wholesale. 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 casual apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.

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Analyst Recommendations for Urban Outfitters (NASDAQ:URBN)

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