Wells Fargo & Company Issues Positive Forecast for Urban Outfitters (NASDAQ:URBN) Stock Price

Urban Outfitters (NASDAQ:URBN) had its target price increased by Wells Fargo & Company from $40.00 to $48.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an equal weight rating on the apparel retailer’s stock.

URBN has been the topic of several other reports. StockNews.com downgraded Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Jefferies Financial Group cut their price objective on shares of Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating on the stock in a report on Thursday, August 22nd. Morgan Stanley boosted their target price on shares of Urban Outfitters from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Wednesday. Telsey Advisory Group increased their price target on shares of Urban Outfitters from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, BMO Capital Markets lowered their price objective on shares of Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating for the company in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.27.

Urban Outfitters Price Performance

Shares of NASDAQ URBN opened at $47.49 on Wednesday. The company has a 50-day simple moving average of $37.24 and a 200-day simple moving average of $40.06. The company has a market cap of $4.38 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 0.95 and a beta of 1.50. 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 earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 EPS for the quarter, topping 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 firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the company earned $0.88 EPS. Urban Outfitters’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts anticipate that Urban Outfitters will post 3.65 EPS for the current year.

Insider Activity

In related news, CEO Tricia D. Smith sold 11,730 shares of the business’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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 31.80% of the company’s stock.

Institutional Trading of Urban Outfitters

A number of hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. grew its holdings 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 valued at $1,901,000 after purchasing an additional 34,350 shares in the last quarter. Wesbanco Bank Inc. acquired a new stake in shares of Urban Outfitters during the second quarter valued at about $582,000. Nisa Investment Advisors LLC increased its position in shares of Urban Outfitters by 5.6% during the second quarter. Nisa Investment Advisors LLC now owns 10,026 shares of the apparel retailer’s stock worth $412,000 after acquiring an additional 531 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Urban Outfitters in the third quarter worth about $2,143,000. Finally, Fisher Asset Management LLC boosted its holdings 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 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.