Morgan Stanley Reaffirms Buy Rating for Urban Outfitters (NASDAQ:URBN)

Morgan Stanley reissued their buy rating on shares of Urban Outfitters (NASDAQ:URBN) in a research report released on Thursday, AnalystRatings.com reports. Morgan Stanley currently has a $32.00 price target on the apparel retailer’s stock, down from their previous price target of $34.00.

Other research analysts have also issued reports about the company. ValuEngine lowered Urban Outfitters from a hold rating to a sell rating in a research report on Wednesday. Jefferies Financial Group lowered their target price on Urban Outfitters from $35.00 to $33.00 and set a buy rating for the company in a research report on Wednesday. Wolfe Research lowered their target price on Urban Outfitters from $30.00 to $26.00 and set an outperform rating for the company in a research report on Wednesday, August 21st. Barclays reaffirmed a neutral rating on shares of Urban Outfitters in a research report on Thursday. Finally, Bank of America reaffirmed a buy rating and set a $28.00 target price (down from $33.00) on shares of Urban Outfitters in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company. Urban Outfitters currently has a consensus rating of Hold and a consensus target price of $29.26.

Shares of NASDAQ URBN traded up $0.43 during mid-day trading on Thursday, hitting $25.53. 2,966,297 shares of the stock traded hands, compared to its average volume of 2,919,307. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.60 and a quick ratio of 0.89. Urban Outfitters has a twelve month low of $19.63 and a twelve month high of $39.54. The company has a market cap of $2.82 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 1.23 and a beta of 0.77. The firm has a 50 day simple moving average of $28.66 and a two-hundred day simple moving average of $25.09.

Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Tuesday, November 19th. The apparel retailer reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.01). The company had revenue of $987.47 million for the quarter, compared to the consensus estimate of $1 billion. Urban Outfitters had a return on equity of 16.67% and a net margin of 5.96%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.70 earnings per share. On average, equities research analysts anticipate that Urban Outfitters will post 2.23 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of URBN. Massachusetts Financial Services Co. MA raised its position in shares of Urban Outfitters by 73.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,670,448 shares of the apparel retailer’s stock worth $75,013,000 after acquiring an additional 1,127,172 shares in the last quarter. Investment Counselors of Maryland LLC bought a new position in shares of Urban Outfitters in the 2nd quarter worth about $20,258,000. Victory Capital Management Inc. bought a new position in shares of Urban Outfitters in the 2nd quarter worth about $16,450,000. Morgan Stanley raised its position in shares of Urban Outfitters by 121.7% in the 2nd quarter. Morgan Stanley now owns 921,845 shares of the apparel retailer’s stock worth $20,971,000 after acquiring an additional 505,998 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Urban Outfitters in the 2nd quarter worth about $10,986,000. 74.38% 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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