Urban Outfitters (NASDAQ:URBN) Upgraded to “Buy” at Wall Street Zen

Urban Outfitters (NASDAQ:URBN) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

URBN has been the subject of several other reports. Bank of America upped their target price on Urban Outfitters from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Weiss Ratings upgraded Urban Outfitters from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 26th. Barclays dropped their price objective on shares of Urban Outfitters from $102.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, May 22nd. Jefferies Financial Group reiterated a “hold” rating and set a $72.00 price objective on shares of Urban Outfitters in a report on Thursday, May 21st. Finally, JPMorgan Chase & Co. raised their target price on shares of Urban Outfitters from $94.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $87.18.

Urban Outfitters Stock Performance

URBN stock opened at $70.72 on Friday. The stock has a market capitalization of $6.06 billion, a P/E ratio of 13.57, a PEG ratio of 1.32 and a beta of 1.22. Urban Outfitters has a one year low of $59.53 and a one year high of $84.35. The company has a 50 day moving average price of $72.14 and a two-hundred day moving average price of $70.89.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.18. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the company posted $1.16 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Research analysts forecast that Urban Outfitters will post 6.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Melanie Marein-Efron sold 5,036 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $73.42, for a total value of $369,743.12. Following the transaction, the chief financial officer directly owned 17,023 shares in the company, valued at $1,249,828.66. This trade represents a 22.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Azeez Hayne sold 8,733 shares of Urban Outfitters stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $73.18, for a total value of $639,080.94. The disclosure for this sale is available in the SEC filing. 32.10% of the stock is currently owned by company insiders.

Institutional Trading of Urban Outfitters

A number of institutional investors have recently added to or reduced their stakes in URBN. Dimensional Fund Advisors LP increased its holdings in Urban Outfitters by 8.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,313,938 shares of the apparel retailer’s stock valued at $273,274,000 after purchasing an additional 338,622 shares in the last quarter. Abrams Bison Investments LLC acquired a new position in shares of Urban Outfitters during the fourth quarter worth about $127,114,000. Geode Capital Management LLC lifted its stake in shares of Urban Outfitters by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,507,027 shares of the apparel retailer’s stock worth $113,434,000 after purchasing an additional 35,244 shares in the last quarter. Jupiter Asset Management Ltd. boosted its position in shares of Urban Outfitters by 33.8% in the fourth quarter. Jupiter Asset Management Ltd. now owns 1,297,452 shares of the apparel retailer’s stock worth $97,646,000 after buying an additional 327,453 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Urban Outfitters by 23.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 981,130 shares of the apparel retailer’s stock worth $62,155,000 after buying an additional 189,454 shares during the period. 77.61% of the stock is owned by hedge funds and other institutional investors.

About Urban Outfitters

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city’s historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.