Urban Outfitters (NASDAQ:URBN) Rating Increased to Buy at Citigroup

Urban Outfitters (NASDAQ:URBN) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $59.00 target price on the apparel retailer’s stock, up from their prior target price of $42.00. Citigroup’s price target would suggest a potential upside of 46.99% from the stock’s previous close.

A number of other brokerages have also weighed in on URBN. StockNews.com lowered shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Wells Fargo & Company lowered their price target on Urban Outfitters from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Barclays dropped their price objective on Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating on the stock in a research note on Thursday, August 22nd. BMO Capital Markets decreased their target price on Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating for the company in a research note on Thursday, August 22nd. Finally, Jefferies Financial Group dropped their price target on shares of Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating on the stock in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $44.00.

Urban Outfitters Price Performance

Shares of URBN stock opened at $40.14 on Wednesday. Urban Outfitters has a 12-month low of $32.02 and a 12-month high of $48.90. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 0.95 and a beta of 1.50. The business has a 50 day simple moving average of $37.18 and a 200 day simple moving average of $40.06.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.28. Urban Outfitters had a return on equity of 15.49% and a net margin of 5.83%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the business posted $0.88 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Urban Outfitters will post 3.65 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Tricia D. Smith sold 11,730 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $35.29, for a total value of $413,951.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 31.80% of the company’s stock.

Institutional Trading of Urban Outfitters

Several hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. lifted its position in Urban Outfitters by 138.8% in the 3rd quarter. Blue Trust Inc. now owns 609 shares of the apparel retailer’s stock worth $25,000 after buying an additional 354 shares in the last quarter. Quarry LP grew its position in Urban Outfitters by 1,825.0% in the second quarter. Quarry LP now owns 924 shares of the apparel retailer’s stock worth $38,000 after acquiring an additional 876 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Urban Outfitters in the 2nd quarter valued at $42,000. Meeder Asset Management Inc. bought a new stake in Urban Outfitters in the second quarter worth $48,000. Finally, Asset Management One Co. Ltd. acquired a new position in Urban Outfitters during the third quarter worth $47,000. Institutional investors and hedge funds own 77.61% of the company’s stock.

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.