Urban Outfitters (NASDAQ:URBN) Price Target Raised to $79.00 at UBS Group

Key Points

• UBS Group has raised its target price for Urban Outfitters' stock from $78 to $79, indicating a potential upside of 19.12% from the previous close, while maintaining a "neutral" rating.
• Urban Outfitters recently reported $1.58 earnings per share for the quarter, exceeding estimates of $1.44 and showing a 11.3% revenue increase year-over-year.
• Insider trading activity includes CEO Tricia D. Smith selling 4,500 shares, reducing her stake significantly, while institutional investors hold 77.61% of the company's stock.

Urban Outfitters (NASDAQ:URBN - Free Report) had its target price increased by UBS Group from $78.00 to $79.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the apparel retailer's stock.

Several other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Urban Outfitters from $88.00 to $89.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. Jefferies Financial Group upgraded shares of Urban Outfitters from an "underperform" rating to a "hold" rating and increased their price objective for the company from $50.00 to $70.00 in a research report on Friday, June 6th. Morgan Stanley increased their price objective on shares of Urban Outfitters from $82.00 to $84.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Telsey Advisory Group increased their price objective on shares of Urban Outfitters from $72.00 to $80.00 and gave the company a "market perform" rating in a research report on Thursday, August 28th. Finally, Wall Street Zen downgraded shares of Urban Outfitters from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $81.91.

Urban Outfitters Stock Down 0.8%

Shares of NASDAQ URBN traded down $0.58 during midday trading on Tuesday, hitting $70.77. The stock had a trading volume of 2,111,829 shares, compared to its average volume of 2,222,433. The business's 50 day moving average is $74.13 and its 200-day moving average is $63.37. The company has a market cap of $6.34 billion, a P/E ratio of 13.82, a PEG ratio of 1.14 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 issued its earnings results on Wednesday, August 27th. The apparel retailer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.14. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.43%. The business's revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 earnings per share. As a group, analysts expect that Urban Outfitters will post 3.91 EPS for the current fiscal year.

Insider Buying and Selling

In other Urban Outfitters news, CEO Tricia D. Smith sold 4,500 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $70.52, for a total transaction of $317,340.00. Following the completion of 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 31.60% of the company's stock.

Institutional Trading of Urban Outfitters

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management purchased a new stake in Urban Outfitters during the second quarter valued at approximately $26,000. Cullen Frost Bankers Inc. increased its stake in shares of Urban Outfitters by 180.2% in the second quarter. Cullen Frost Bankers Inc. now owns 468 shares of the apparel retailer's stock worth $34,000 after purchasing an additional 301 shares in the last quarter. Whipplewood Advisors LLC increased its stake in shares of Urban Outfitters by 2,893.8% in the first quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer's stock worth $25,000 after purchasing an additional 463 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Urban Outfitters by 125.1% in the second quarter. EverSource Wealth Advisors LLC now owns 493 shares of the apparel retailer's stock worth $36,000 after purchasing an additional 274 shares in the last quarter. Finally, Kilter Group LLC purchased a new stake in shares of Urban Outfitters in the second quarter worth $36,000. 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.