Urban Outfitters (NASDAQ:URBN) Given New $93.00 Price Target at Bank of America

Key Points

• Bank of America has raised Urban Outfitters' price target from $90.00 to $93.00, suggesting a potential upside of 34.23% from its current price, and maintains a "buy" rating on the stock.
• Urban Outfitters reported a strong earnings performance with earnings per share of $1.58, exceeding analysts' expectations of $1.44, and revenue growth of 11.3% year-over-year.
• Despite the positive projections, Urban Outfitters' stock has seen a recent decline of 11.2%, prompting varying ratings from analysts, with most leaning towards "hold" or "buy."

Urban Outfitters (NASDAQ:URBN - Get Free Report) had its price target increased by equities researchers at Bank of America from $90.00 to $93.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the apparel retailer's stock. Bank of America's target price would indicate a potential upside of 34.23% from the company's current price.

Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Urban Outfitters from $78.00 to $88.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Barclays upped their target price on shares of Urban Outfitters from $59.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Morgan Stanley restated an "overweight" rating on shares of Urban Outfitters in a research note on Thursday. Jefferies Financial Group raised shares of Urban Outfitters from an "underperform" rating to a "hold" rating and upped their price target for the stock from $50.00 to $70.00 in a research report on Friday, June 6th. Finally, Glj Research reaffirmed a "sell" rating on shares of Urban Outfitters in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $79.64.

Urban Outfitters Stock Down 11.2%

URBN stock traded down $8.73 during mid-day trading on Thursday, hitting $69.28. The company had a trading volume of 3,047,577 shares, compared to its average volume of 2,115,693. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 1.32 and a beta of 1.44. Urban Outfitters has a 12-month low of $33.86 and a 12-month high of $80.71. The company has a 50-day moving average price of $74.14 and a 200 day moving average price of $62.72.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last posted its earnings results on Wednesday, August 27th. The apparel retailer reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.14. Urban Outfitters had a net margin of 7.91% and a return on equity of 17.98%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm posted $1.24 EPS. The business's quarterly revenue was up 11.3% on a year-over-year basis. As a group, analysts expect that Urban Outfitters will post 3.91 EPS for the current year.

Insider Transactions at Urban Outfitters

In related news, CEO Tricia D. Smith sold 4,500 shares of the business's 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 in the company, valued at $950,398.04. The trade was a 25.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 31.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in URBN. Whipplewood Advisors LLC lifted 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 purchasing an additional 463 shares during the period. Hollencrest Capital Management purchased a new position in Urban Outfitters in the second quarter valued at $26,000. Cullen Frost Bankers Inc. increased its holdings in Urban Outfitters by 180.2% in the second 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. increased 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 valued at $36,000 after buying an additional 687 shares in the last quarter. Finally, Kilter Group LLC purchased a new position in Urban Outfitters in the second quarter valued at $36,000. 77.61% of the stock is currently 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.

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