Urban Outfitters (NASDAQ:URBN) Price Target Raised to $41.00 at Morgan Stanley

Urban Outfitters (NASDAQ:URBN) had its price objective increased by Morgan Stanley from $38.00 to $41.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the apparel retailer’s stock. Morgan Stanley’s price target would suggest a potential downside of 11.92% from the stock’s previous close.

URBN has been the subject of several other research reports. Barclays lifted their price target on Urban Outfitters from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday. Jefferies Financial Group cut their price objective on Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating for the company in a research report on Thursday, August 22nd. Telsey Advisory Group increased their target price on Urban Outfitters from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday. BMO Capital Markets cut 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. Finally, Robert W. Baird increased their price objective on shares of Urban Outfitters from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Urban Outfitters has a consensus rating of “Hold” and a consensus target price of $45.55.

Urban Outfitters Trading Up 16.0 %

Urban Outfitters stock traded up $6.41 during mid-day trading on Wednesday, hitting $46.55. The company had a trading volume of 3,106,154 shares, compared to its average volume of 1,686,473. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 0.95 and a beta of 1.50. The company’s fifty day moving average is $37.18 and its 200-day 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 released its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 EPS for the quarter, beating the consensus estimate of $0.82 by $0.28. Urban Outfitters had a net margin of 5.83% and a return on equity of 15.49%. 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 business earned $0.88 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts expect that Urban Outfitters will post 3.65 EPS for the current fiscal year.

Insider Activity at Urban Outfitters

In related news, CEO Tricia D. Smith sold 11,730 shares of the company’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at this link. 31.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Urban Outfitters

Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp raised its position in shares of Urban Outfitters by 1.1% during the 3rd quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer’s stock valued at $107,244,000 after buying an additional 31,100 shares during the period. Marshall Wace LLP increased its stake in Urban Outfitters by 116.3% during the second quarter. Marshall Wace LLP now owns 2,288,817 shares of the apparel retailer’s stock worth $93,956,000 after acquiring an additional 1,230,771 shares during the last quarter. Fisher Asset Management LLC raised its position in Urban Outfitters by 3.1% in the third quarter. Fisher Asset Management LLC now owns 2,073,416 shares of the apparel retailer’s stock valued at $79,433,000 after purchasing an additional 62,019 shares during the period. American Century Companies Inc. lifted its stake in shares of Urban Outfitters by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 1,555,067 shares of the apparel retailer’s stock valued at $63,836,000 after purchasing an additional 264,708 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Urban Outfitters by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer’s stock worth $56,765,000 after purchasing an additional 18,249 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.