Urban Outfitters (NASDAQ:URBN) Given New $60.00 Price Target at UBS Group

Urban Outfitters (NASDAQ:URBN) had its target price increased by UBS Group from $45.00 to $60.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the apparel retailer’s stock.

Several other research analysts have also recently commented on URBN. Bank of America increased their target price on shares of Urban Outfitters from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. increased their target price on shares of Urban Outfitters from $46.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday. Barclays increased their target price on shares of Urban Outfitters from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Telsey Advisory Group boosted their price objective on shares of Urban Outfitters from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Finally, Morgan Stanley raised their target price on shares of Urban Outfitters from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $49.64.

Urban Outfitters Stock Down 0.2 %

Urban Outfitters stock opened at $56.96 on Friday. The stock has a market capitalization of $5.26 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.10 and a beta of 1.55. Urban Outfitters has a twelve month low of $33.86 and a twelve month high of $59.05. The company has a 50 day moving average of $47.86 and a 200-day moving average of $42.56.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.25. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 earnings per share. Equities analysts anticipate that Urban Outfitters will post 3.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Urban Outfitters

Several institutional investors have recently added to or reduced their stakes in URBN. GAMMA Investing LLC raised its position in shares of Urban Outfitters by 36.3% during the fourth quarter. GAMMA Investing LLC now owns 759 shares of the apparel retailer’s stock worth $42,000 after purchasing an additional 202 shares during the period. Evergreen Capital Management LLC raised its position in shares of Urban Outfitters by 2.8% during the second quarter. Evergreen Capital Management LLC now owns 9,361 shares of the apparel retailer’s stock worth $384,000 after purchasing an additional 258 shares during the period. Quarry LP raised its position in shares of Urban Outfitters by 32.3% during the third quarter. Quarry LP now owns 1,222 shares of the apparel retailer’s stock worth $47,000 after purchasing an additional 298 shares during the period. Blue Trust Inc. raised its position in shares of Urban Outfitters by 138.8% during the third quarter. Blue Trust Inc. now owns 609 shares of the apparel retailer’s stock worth $25,000 after purchasing an additional 354 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Urban Outfitters by 2.4% during the second quarter. Arizona State Retirement System now owns 16,976 shares of the apparel retailer’s stock worth $697,000 after purchasing an additional 401 shares during the period. 77.61% of the stock is 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.