Bank of America Forecasts Strong Price Appreciation for Urban Outfitters (NASDAQ:URBN) Stock

Urban Outfitters (NASDAQ:URBN) had its price objective raised by Bank of America from $46.00 to $53.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the apparel retailer’s stock.

Other equities research analysts have also recently issued research reports about the company. Barclays lowered their price target on Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating for the company in a research note on Thursday, August 22nd. Jefferies Financial Group decreased their target price on shares of Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating for the company in a research report on Thursday, August 22nd. Wells Fargo & Company cut their price target on shares of Urban Outfitters from $48.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. StockNews.com lowered shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Finally, Telsey Advisory Group increased their target price on shares of Urban Outfitters from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.27.

Urban Outfitters Stock Performance

Urban Outfitters stock opened at $47.49 on Wednesday. The firm’s 50 day moving average price is $37.24 and its two-hundred day moving average price is $40.06. The firm has a market cap of $4.38 billion, a PE ratio of 14.52, a P/E/G ratio of 0.95 and a beta of 1.50. Urban Outfitters has a twelve month low of $33.17 and a twelve month high of $48.90.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings data 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 business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the company earned $0.88 earnings per share. Urban Outfitters’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities analysts anticipate that Urban Outfitters will post 3.65 EPS for the current fiscal year.

Insider Transactions at Urban Outfitters

In related news, CEO Tricia D. Smith sold 11,730 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $35.29, for a total transaction of $413,951.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 31.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co grew its stake in shares of Urban Outfitters by 5.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 62,583 shares of the apparel retailer’s stock worth $2,717,000 after acquiring an additional 2,953 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Urban Outfitters by 96.6% in the 1st quarter. Lazard Asset Management LLC now owns 6,815 shares of the apparel retailer’s stock valued at $295,000 after purchasing an additional 3,348 shares during the period. Price T Rowe Associates Inc. MD grew its position in Urban Outfitters by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,202 shares of the apparel retailer’s stock worth $1,442,000 after purchasing an additional 2,307 shares during the last quarter. Tidal Investments LLC grew its position in Urban Outfitters by 5.8% in the 1st quarter. Tidal Investments LLC now owns 18,575 shares of the apparel retailer’s stock worth $807,000 after purchasing an additional 1,016 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Urban Outfitters by 287.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 46,300 shares of the apparel retailer’s stock worth $1,901,000 after purchasing an additional 34,350 shares during the period. 77.61% of the stock is currently owned by institutional investors and hedge funds.

About Urban Outfitters

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.