Urban Outfitters (NASDAQ:URBN) Given New $75.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo & Company has raised the price target for Urban Outfitters from $70.00 to $75.00, with an "equal weight" rating indicating a potential upside of 2.71% from the current market price.
• Other firms like Baird R W and Bank of America have also issued optimistic ratings, with Bank of America setting a higher target of $80.00.
• Urban Outfitters recently reported quarterly earnings of $1.58 EPS, surpassing analysts' expectations and marking an 11.3% increase in revenue year-over-year.

Urban Outfitters (NASDAQ:URBN - Get Free Report) had its price target upped by research analysts at Wells Fargo & Company from $70.00 to $75.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the apparel retailer's stock. Wells Fargo & Company's price target would indicate a potential upside of 2.71% from the company's current price.

A number of other research firms also recently issued reports on URBN. Baird R W raised Urban Outfitters from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 11th. BMO Capital Markets set a $76.00 price target on Urban Outfitters and gave the stock a "market perform" rating in a report on Thursday, May 22nd. Glj Research restated a "sell" rating on shares of Urban Outfitters in a research note on Thursday, May 22nd. Morgan Stanley reiterated an "overweight" rating on shares of Urban Outfitters in a research report on Thursday. Finally, Bank of America lifted their price target on Urban Outfitters from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. One equities 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $78.45.

Urban Outfitters Price Performance

Shares of Urban Outfitters stock traded down $4.99 during trading hours on Thursday, reaching $73.02. The company's stock had a trading volume of 2,407,764 shares, compared to its average volume of 2,112,188. The firm has a 50 day moving average price of $74.14 and a 200-day moving average price of $62.72. Urban Outfitters has a one year low of $33.86 and a one year high of $80.71. The stock has a market cap of $6.55 billion, a P/E ratio of 15.26, a P/E/G ratio of 1.32 and a beta of 1.44.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The apparel retailer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.44 by $0.14. The company 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 7.91% and a return on equity of 17.98%. The firm's revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.24 EPS. As a group, sell-side analysts forecast that Urban Outfitters will post 3.91 EPS for the current fiscal year.

Insider Transactions at Urban Outfitters

In other Urban Outfitters news, CEO Tricia D. Smith sold 4,500 shares of Urban Outfitters stock in a transaction 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 transaction, the chief executive officer directly owned 13,477 shares of the company's stock, valued at $950,398.04. The trade was a 25.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 31.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Urban Outfitters

Institutional investors have recently added to or reduced their stakes in the company. Whipplewood Advisors LLC lifted its stake in shares of Urban Outfitters by 2,893.8% during the 1st quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer's stock worth $25,000 after acquiring an additional 463 shares during the last quarter. Hollencrest Capital Management bought a new stake in Urban Outfitters during the second quarter valued at about $26,000. Cullen Frost Bankers Inc. boosted its holdings in shares of Urban Outfitters by 180.2% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 468 shares of the apparel retailer's stock valued at $34,000 after buying an additional 301 shares in the last quarter. Federated Hermes Inc. grew its holdings in 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 purchasing an additional 687 shares during the last quarter. Finally, Kilter Group LLC purchased a new position in Urban Outfitters during the 2nd quarter worth $36,000. Institutional investors own 77.61% of the company's stock.

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.

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