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

Urban Outfitters (NASDAQ:URBN) had its price objective increased by equities researchers at Bank of America from $46.00 to $53.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the apparel retailer’s stock. Bank of America‘s price target would suggest a potential upside of 11.60% from the company’s current price.

Several other research firms also recently commented on URBN. BMO Capital Markets cut their target price on Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating for the company in a research report on Thursday, August 22nd. Barclays cut their price objective on Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday, August 22nd. Morgan Stanley lowered their target price on shares of Urban Outfitters from $40.00 to $38.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Wells Fargo & Company decreased their price objective 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. Finally, StockNews.com lowered shares of Urban Outfitters from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $46.27.

Urban Outfitters Price Performance

Shares of Urban Outfitters stock opened at $47.49 on Wednesday. Urban Outfitters has a 52-week low of $33.17 and a 52-week high of $48.90. The firm has a market capitalization of $4.38 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 0.95 and a beta of 1.50. The company’s fifty day moving average price is $37.44 and its two-hundred day moving average price is $40.11.

Urban Outfitters (NASDAQ:URBN) last posted its earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.28. The business had revenue of $1.36 billion for 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 firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 earnings per share. Analysts predict that Urban Outfitters will post 3.65 earnings per share for the current fiscal year.

Insider Activity at Urban Outfitters

In other Urban Outfitters 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 transaction of $413,951.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 31.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Urban Outfitters

Institutional investors have recently modified their holdings of the business. Franklin Resources Inc. boosted its stake in Urban Outfitters by 7.6% in the third quarter. Franklin Resources Inc. now owns 35,686 shares of the apparel retailer’s stock valued at $1,315,000 after acquiring an additional 2,527 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Urban Outfitters by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer’s stock valued at $56,765,000 after purchasing an additional 18,249 shares during the period. XTX Topco Ltd grew its stake in shares of Urban Outfitters by 367.0% during the third quarter. XTX Topco Ltd now owns 25,427 shares of the apparel retailer’s stock worth $974,000 after purchasing an additional 19,982 shares during the period. Zacks Investment Management grew its stake in shares of Urban Outfitters by 10.4% during the third quarter. Zacks Investment Management now owns 43,607 shares of the apparel retailer’s stock worth $1,671,000 after purchasing an additional 4,092 shares during the period. Finally, Weiss Asset Management LP bought a new stake in Urban Outfitters in the third quarter valued at about $3,894,000. Institutional investors and hedge funds own 77.61% of the company’s stock.

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.