Urban Outfitters (NASDAQ:URBN) Hits New 52-Week High – Should You Buy?

Shares of Urban Outfitters, Inc. (NASDAQ:URBN) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $56.04 and last traded at $55.83, with a volume of 448683 shares traded. The stock had previously closed at $54.55.

Wall Street Analysts Forecast Growth

URBN has been the subject of a number of research reports. Barclays boosted their target price on shares of Urban Outfitters from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Telsey Advisory Group increased their target price on Urban Outfitters from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Wells Fargo & Company boosted their price target on Urban Outfitters from $40.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Citigroup upgraded shares of Urban Outfitters from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $42.00 to $59.00 in a research note on Wednesday, November 27th. Finally, 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 research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $46.27.

Urban Outfitters Stock Up 0.2 %

The stock’s 50 day moving average price is $44.17 and its 200-day moving average price is $41.79. The stock has a market capitalization of $5.15 billion, a PE ratio of 15.99, a PEG ratio of 1.10 and a beta of 1.60.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.25. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the business posted $0.88 EPS. Urban Outfitters’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts forecast that Urban Outfitters, Inc. will post 3.88 earnings per share for the current year.

Institutional Investors Weigh In On Urban Outfitters

A number of institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its position in shares of Urban Outfitters by 7.6% during the third quarter. Franklin Resources Inc. now owns 35,686 shares of the apparel retailer’s stock worth $1,315,000 after acquiring an additional 2,527 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 worth $56,765,000 after purchasing an additional 18,249 shares in the last quarter. XTX Topco Ltd boosted its holdings in shares of Urban Outfitters by 367.0% during the 3rd quarter. XTX Topco Ltd now owns 25,427 shares of the apparel retailer’s stock valued at $974,000 after purchasing an additional 19,982 shares during the last quarter. Zacks Investment Management grew its position 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 valued at $1,671,000 after purchasing an additional 4,092 shares in the last quarter. Finally, Weiss Asset Management LP bought a new stake in shares of Urban Outfitters in the third quarter worth about $3,894,000. 77.61% of the stock is owned by hedge funds and other 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.