Urban Outfitters (NASDAQ:URBN) Upgraded to Buy at Citigroup

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

A number of other analysts have also issued reports on the company. Morgan Stanley lowered their price target on Urban Outfitters from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. Jefferies Financial Group dropped their target price on shares of Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday, August 22nd. Telsey Advisory Group increased their target price on shares of Urban Outfitters from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday. Bank of America lowered their price target on shares of Urban Outfitters from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Finally, StockNews.com downgraded shares of Urban Outfitters from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.27.

Urban Outfitters Stock Performance

Shares of NASDAQ URBN opened at $47.49 on Wednesday. The firm has a fifty day moving average of $37.24 and a 200 day moving average of $40.06. The firm has a market cap of $4.38 billion, a PE ratio of 14.52, a PEG ratio of 0.95 and a beta of 1.50. Urban Outfitters has a one year low of $33.17 and a one year high of $48.90.

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

Insider Activity

In related news, CEO Tricia D. Smith sold 11,730 shares of the firm’s stock in a transaction dated 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 can be accessed through this hyperlink. Corporate insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of URBN. CANADA LIFE ASSURANCE Co boosted its position in shares of Urban Outfitters by 5.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 62,583 shares of the apparel retailer’s stock worth $2,717,000 after purchasing an additional 2,953 shares during the period. Lazard Asset Management LLC boosted its position in shares of Urban Outfitters by 96.6% during the first 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 during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Urban Outfitters by 7.5% in the first 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 in the last quarter. Tidal Investments LLC raised its holdings in shares of Urban Outfitters by 5.8% in the 1st 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 during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in 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 acquiring an additional 34,350 shares in the last quarter. Hedge funds and other institutional investors 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.