Morgan Stanley Forecasts Strong Price Appreciation for Urban Outfitters (NASDAQ:URBN) Stock

Urban Outfitters (NASDAQ:URBN - Get Free Report) had its price objective hoisted by stock analysts at Morgan Stanley from $62.00 to $77.00 in a report released on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the apparel retailer's stock. Morgan Stanley's target price suggests a potential upside of 5.71% from the stock's current price.

A number of other brokerages have also recently commented on URBN. Barclays boosted their target price on shares of Urban Outfitters from $59.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday. Glj Research restated a "sell" rating on shares of Urban Outfitters in a report on Thursday. Citigroup lowered their target price on shares of Urban Outfitters from $65.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Jefferies Financial Group upped their price target on Urban Outfitters from $42.00 to $46.00 and gave the stock an "underperform" rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price objective on Urban Outfitters from $55.00 to $70.00 and gave the company an "equal weight" rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $60.45.

Urban Outfitters Price Performance

Shares of URBN opened at $72.84 on Thursday. The company has a 50-day simple moving average of $51.88 and a two-hundred day simple moving average of $51.75. The firm has a market capitalization of $6.75 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.02 and a beta of 1.33. Urban Outfitters has a one year low of $33.86 and a one year high of $73.47.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.35. The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.29 billion. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. Analysts expect that Urban Outfitters will post 3.91 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Tricia D. Smith sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $53.94, for a total value of $539,400.00. Following the sale, the chief executive officer now owns 12,601 shares in the company, valued at approximately $679,697.94. This trade represents a 44.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Azeez Hayne sold 11,676 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $54.75, for a total transaction of $639,261.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,976 shares of company stock valued at $1,663,713. Corporate insiders own 31.60% of the company's stock.

Hedge Funds Weigh In On Urban Outfitters

A number of institutional investors and hedge funds have recently modified their holdings of the company. Whipplewood Advisors LLC increased its position in Urban Outfitters by 2,893.8% during the first quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer's stock valued at $25,000 after acquiring an additional 463 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Urban Outfitters by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 525 shares of the apparel retailer's stock valued at $29,000 after purchasing an additional 200 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Urban Outfitters by 17,175.0% in the first quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer's stock worth $36,000 after buying an additional 687 shares during the last quarter. Virtus Advisers LLC bought a new stake in Urban Outfitters during the first quarter valued at approximately $46,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Urban Outfitters during the first quarter valued at approximately $52,000. 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.

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