Urban Outfitters (NASDAQ:URBN) Rating Increased to Buy at Citigroup

Urban Outfitters (NASDAQ:URBN) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat reports. The firm currently has a $59.00 price target on the apparel retailer’s stock, up from their previous price target of $42.00. Citigroup’s target price suggests a potential upside of 24.24% from the stock’s current price.

A number of other research firms also recently weighed in on URBN. Telsey Advisory Group lifted 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. Barclays lowered their target price on shares of Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating on the stock in a research note on Thursday, August 22nd. Jefferies Financial Group decreased their price objective on Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating on the stock in a report on Thursday, August 22nd. Wells Fargo & Company dropped their target price on Urban Outfitters from $48.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Finally, StockNews.com lowered Urban Outfitters from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $46.27.

Urban Outfitters Stock Performance

NASDAQ:URBN opened at $47.49 on Wednesday. The firm’s 50-day moving average is $37.44 and its 200-day moving average is $40.11. Urban Outfitters has a 52-week low of $33.17 and a 52-week high of $48.90. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 0.95 and a beta of 1.50.

Urban Outfitters (NASDAQ:URBN) last posted 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 return on equity of 15.49% and a net margin of 5.83%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the firm posted $0.88 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts predict that Urban Outfitters will post 3.65 EPS for the current year.

Insider Activity at Urban Outfitters

In other Urban Outfitters news, CEO Tricia D. Smith sold 11,730 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 31.80% of the stock is currently owned by company insiders.

Institutional Trading of Urban Outfitters

Several hedge funds have recently modified their holdings of URBN. CANADA LIFE ASSURANCE Co lifted its holdings in Urban Outfitters by 5.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 62,583 shares of the apparel retailer’s stock worth $2,717,000 after buying an additional 2,953 shares in the last quarter. Lazard Asset Management LLC increased its position in Urban Outfitters by 96.6% in the first quarter. Lazard Asset Management LLC now owns 6,815 shares of the apparel retailer’s stock worth $295,000 after purchasing an additional 3,348 shares during the period. Price T Rowe Associates Inc. MD increased its position in Urban Outfitters by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 33,202 shares of the apparel retailer’s stock worth $1,442,000 after purchasing an additional 2,307 shares during the period. Tidal Investments LLC raised its holdings in Urban Outfitters by 5.8% during the 1st quarter. Tidal Investments LLC now owns 18,575 shares of the apparel retailer’s stock worth $807,000 after purchasing an additional 1,016 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position 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 during the period. 77.61% of the stock is owned by institutional investors.

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.