Urban Outfitters (NASDAQ:URBN) Upgraded by Citigroup to Buy Rating

Citigroup upgraded shares of Urban Outfitters (NASDAQ:URBN) from a neutral rating to a buy rating in a report published on Wednesday, MarketBeat reports. Citigroup currently has $59.00 price target on the apparel retailer’s stock, up from their previous price target of $42.00.

Other research analysts have also recently issued research reports about the stock. BMO Capital Markets lowered their price target on shares of Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating for the company in a report on Thursday, August 22nd. StockNews.com cut Urban Outfitters from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Barclays lowered their price objective on Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating for the company in a research report on Thursday, August 22nd. Bank of America decreased their target price on Urban Outfitters from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company dropped 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 research note on Thursday, August 22nd. 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.27.

Urban Outfitters Trading Up 18.3 %

Shares of NASDAQ URBN opened at $47.49 on Wednesday. The stock has a market cap of $4.38 billion, a P/E ratio of 14.52, a PEG ratio of 0.95 and a beta of 1.50. The business’s fifty day simple moving average is $37.24 and its 200-day simple moving average is $40.06. Urban Outfitters has a 12-month low of $33.17 and a 12-month high of $48.90.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the company earned $0.88 EPS. Urban Outfitters’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts forecast that Urban Outfitters will post 3.65 EPS for the current fiscal year.

Insider Activity

In other news, CEO Tricia D. Smith sold 11,730 shares of the company’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 31.80% of the company’s stock.

Hedge Funds Weigh In On Urban Outfitters

Institutional investors have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co lifted its position in Urban Outfitters by 5.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 62,583 shares of the apparel retailer’s stock valued at $2,717,000 after purchasing an additional 2,953 shares during the period. Lazard Asset Management LLC raised its stake in shares of Urban Outfitters by 96.6% during the 1st quarter. Lazard Asset Management LLC now owns 6,815 shares of the apparel retailer’s stock worth $295,000 after buying an additional 3,348 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 valued at $1,442,000 after buying an additional 2,307 shares during the period. Tidal Investments LLC boosted its stake in shares of Urban Outfitters by 5.8% in the first quarter. Tidal Investments LLC now owns 18,575 shares of the apparel retailer’s stock valued at $807,000 after buying an additional 1,016 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in Urban Outfitters by 287.4% in the second quarter. Harbor Capital Advisors Inc. now owns 46,300 shares of the apparel retailer’s stock worth $1,901,000 after acquiring an additional 34,350 shares in the last quarter. 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.