Urban Outfitters (NASDAQ:URBN) Price Target Raised to $65.00 at Wells Fargo & Company

Urban Outfitters (NASDAQ:URBN) had its price target upped by analysts at Wells Fargo & Company from $60.00 to $65.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the apparel retailer’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 22.83% from the company’s current price.

A number of other research firms have also recently commented on URBN. Robert W. Baird increased their target price on shares of Urban Outfitters from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday. Bank of America increased their target price on shares of Urban Outfitters from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Morgan Stanley raised shares of Urban Outfitters from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $41.00 to $63.00 in a research report on Tuesday, January 21st. Telsey Advisory Group increased their target price on shares of Urban Outfitters from $56.00 to $59.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, Citigroup raised shares of Urban Outfitters from a “neutral” rating to a “buy” rating and raised their price target for the stock from $42.00 to $59.00 in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Urban Outfitters currently has an average rating of “Hold” and a consensus price target of $55.55.

Urban Outfitters Stock Performance

Shares of URBN opened at $52.92 on Thursday. The company has a 50 day moving average price of $55.78 and a 200-day moving average price of $45.34. Urban Outfitters has a fifty-two week low of $33.86 and a fifty-two week high of $60.90. The stock has a market capitalization of $4.88 billion, a PE ratio of 15.16, a PEG ratio of 1.02 and a beta of 1.54.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Wednesday, February 26th. The apparel retailer reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.15. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Equities research analysts forecast that Urban Outfitters will post 3.91 EPS for the current year.

Insider Activity at Urban Outfitters

In related news, Director Harry S. Cherken, Jr. sold 55,000 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $57.31, for a total transaction of $3,152,050.00. Following the completion of the transaction, the director now directly owns 510,296 shares in the company, valued at $29,245,063.76. The trade was a 9.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 31.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp purchased a new position in Urban Outfitters in the fourth quarter valued at $216,000. Public Employees Retirement System of Ohio increased its holdings in Urban Outfitters by 1,778.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 34,588 shares of the apparel retailer’s stock valued at $1,898,000 after buying an additional 32,747 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Urban Outfitters by 17.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 129,114 shares of the apparel retailer’s stock valued at $7,086,000 after buying an additional 19,551 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Urban Outfitters in the fourth quarter valued at $18,513,000. Finally, Two Sigma Investments LP increased its holdings in Urban Outfitters by 50.3% in the fourth quarter. Two Sigma Investments LP now owns 21,302 shares of the apparel retailer’s stock valued at $1,169,000 after buying an additional 7,133 shares in the last quarter. 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.