Urban Outfitters (NASDAQ:URBN) Price Target Raised to $77.00 at Morgan Stanley

Urban Outfitters (NASDAQ:URBN - Free Report) had its price objective boosted by Morgan Stanley from $62.00 to $77.00 in a research note released on Thursday morning, Marketbeat reports. The firm currently has an overweight rating on the apparel retailer's stock.

Several other brokerages also recently issued reports on URBN. Citigroup reduced their price objective on shares of Urban Outfitters from $65.00 to $54.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. UBS Group raised their price objective on Urban Outfitters from $45.00 to $54.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Barclays increased their target price on Urban Outfitters from $59.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Telsey Advisory Group restated a "market perform" rating and issued a $72.00 price target (up previously from $59.00) on shares of Urban Outfitters in a report on Friday, May 16th. Finally, Wall Street Zen raised shares of Urban Outfitters from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $67.45.

Urban Outfitters Price Performance

Urban Outfitters stock traded up $3.16 during mid-day trading on Thursday, hitting $75.44. 1,478,663 shares of the company were exchanged, compared to its average volume of 1,943,267. Urban Outfitters has a 12-month low of $33.86 and a 12-month high of $75.54. The company has a market capitalization of $6.99 billion, a P/E ratio of 21.63, a PEG ratio of 1.02 and a beta of 1.33. The business's 50 day simple moving average is $53.29 and its two-hundred day simple moving average is $52.71.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The apparel retailer reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.35. The firm 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 quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. Equities research analysts predict that Urban Outfitters will post 3.91 earnings per share for the current year.

Insider Activity at Urban Outfitters

In other Urban Outfitters news, insider Azeez Hayne sold 11,676 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $54.75, for a total transaction of $639,261.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Wesley S. Mcdonald sold 8,300 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $58.44, for a total value of $485,052.00. Following the completion of the sale, the director now directly owns 15,450 shares of the company's stock, valued at $902,898. The trade was a 34.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,976 shares of company stock worth $1,663,713. Corporate insiders own 31.60% of the company's stock.

Institutional Investors Weigh In On Urban Outfitters

A number of large investors have recently added to or reduced their stakes in URBN. Whipplewood Advisors LLC lifted its holdings in Urban Outfitters by 2,893.8% in the 1st quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer's stock worth $25,000 after buying an additional 463 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Urban Outfitters by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 525 shares of the apparel retailer's stock worth $29,000 after acquiring an additional 200 shares during the last quarter. Federated Hermes Inc. lifted its stake 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 acquiring an additional 687 shares in the last quarter. Virtus Advisers LLC purchased a new position in Urban Outfitters in the first quarter valued at about $46,000. Finally, Exchange Traded Concepts LLC purchased a new position in Urban Outfitters in the first quarter valued at about $52,000. 77.61% of the stock is owned by institutional investors and hedge funds.

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.