Urban Outfitters' (URBN) Overweight Rating Reiterated at Barclays

Key Points

• Barclays has reaffirmed an "overweight" rating for Urban Outfitters (NASDAQ:URBN) with a target price of $89.00, indicating a potential upside of 31.54% based on the current stock price.
• Urban Outfitters' stock is currently trading at $67.66, down 2.9%, with an average price target of $81.82 from analysts.
• In recent reports, various firms have adjusted their target prices for Urban Outfitters, with Wells Fargo increasing it from $70.00 to $75.00, suggesting mixed sentiments in the market.

Urban Outfitters (NASDAQ:URBN - Get Free Report)'s stock had its "overweight" rating reiterated by investment analysts at Barclays in a research report issued on Friday,Benzinga reports. They currently have a $89.00 price target on the apparel retailer's stock. Barclays's price objective would indicate a potential upside of 31.64% from the stock's previous close.

A number of other research analysts have also recently weighed in on the stock. Bank of America boosted their target price on shares of Urban Outfitters from $90.00 to $93.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Jefferies Financial Group upgraded Urban Outfitters from an "underperform" rating to a "hold" rating and upped their price objective for the company from $50.00 to $70.00 in a research note on Friday, June 6th. Glj Research reissued a "sell" rating on shares of Urban Outfitters in a research report on Thursday, May 22nd. Citigroup reaffirmed a "neutral" rating and set a $76.00 price target (up previously from $75.00) on shares of Urban Outfitters in a research report on Wednesday, August 20th. Finally, Wells Fargo & Company increased their price target on Urban Outfitters from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $81.91.

Urban Outfitters Trading Up 0.8%

Shares of URBN traded up $0.53 on Friday, reaching $67.61. 2,880,556 shares of the company's stock traded hands, compared to its average volume of 2,159,718. The stock's 50 day simple moving average is $74.15 and its two-hundred day simple moving average is $63.06. The stock has a market cap of $6.06 billion, a PE ratio of 13.21, a PEG ratio of 1.08 and a beta of 1.29. Urban Outfitters has a 52-week low of $33.86 and a 52-week high of $80.71.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The apparel retailer reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.14. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. Urban Outfitters had a return on equity of 18.43% and a net margin of 8.15%.The business's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS. Analysts forecast that Urban Outfitters will post 3.91 earnings per share for the current year.

Insider Buying and Selling at Urban Outfitters

In other news, CEO Tricia D. Smith sold 4,500 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $70.52, for a total value of $317,340.00. Following the sale, the chief executive officer directly owned 13,477 shares of the company's stock, valued at approximately $950,398.04. This represents a 25.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 31.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Urban Outfitters

Institutional investors and hedge funds have recently bought and sold shares of the company. Orion Porfolio Solutions LLC grew its position in shares of Urban Outfitters by 27.5% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 22,953 shares of the apparel retailer's stock valued at $1,665,000 after purchasing an additional 4,956 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Urban Outfitters by 7.8% during the second quarter. Thrivent Financial for Lutherans now owns 44,581 shares of the apparel retailer's stock valued at $3,234,000 after buying an additional 3,236 shares during the period. Advisory Services Network LLC purchased a new position in Urban Outfitters during the second quarter worth about $368,000. State of Wyoming grew its position in Urban Outfitters by 105.7% during the second quarter. State of Wyoming now owns 6,808 shares of the apparel retailer's stock worth $494,000 after buying an additional 3,499 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in Urban Outfitters by 282.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 600 shares of the apparel retailer's stock worth $44,000 after acquiring an additional 443 shares during the last quarter. 77.61% of the stock is currently owned by hedge funds and other institutional investors.

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.