Urban Outfitters (NASDAQ:URBN) Sets New 12-Month High After Analyst Upgrade

Urban Outfitters, Inc. (NASDAQ:URBN - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday after UBS Group raised their price target on the stock from $54.00 to $75.00. UBS Group currently has a neutral rating on the stock. Urban Outfitters traded as high as $75.57 and last traded at $75.26, with a volume of 3158149 shares changing hands. The stock had previously closed at $72.28.

Other analysts also recently issued research reports about the stock. Robert W. Baird raised their price objective on shares of Urban Outfitters from $60.00 to $62.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. Glj Research reaffirmed a "sell" rating on shares of Urban Outfitters in a research note on Thursday, May 22nd. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Urban Outfitters in a research note on Thursday, May 22nd. Barclays lifted their price target on shares of Urban Outfitters from $59.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Finally, Jefferies Financial Group reaffirmed an "underperform" rating and set a $46.00 price target (up previously from $42.00) on shares of Urban Outfitters in a research note on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $69.36.

Insider Activity at Urban Outfitters

In other news, Director Wesley S. Mcdonald sold 8,300 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $58.44, for a total transaction of $485,052.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tricia D. Smith sold 10,000 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $53.94, for a total transaction of $539,400.00. Following the sale, the chief executive officer now directly owns 12,601 shares in the company, valued at $679,697.94. This trade represents a 44.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,632 shares of company stock valued at $7,175,331 over the last ninety days. 31.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Urban Outfitters

A number of large investors have recently made changes to their positions 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. Jones Financial Companies Lllp increased its stake 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 purchasing an additional 200 shares in the last quarter. Federated Hermes Inc. grew its stake in Urban Outfitters by 17,175.0% during the 1st quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer's stock valued at $36,000 after acquiring an additional 687 shares in the last quarter. Virtus Advisers LLC purchased a new stake in Urban Outfitters during the 1st quarter valued at about $46,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Urban Outfitters during the 1st quarter valued at about $52,000. 77.61% of the stock is owned by hedge funds and other institutional investors.

Urban Outfitters Stock Performance

The firm's 50 day moving average price is $55.04 and its two-hundred day moving average price is $53.67. The firm has a market cap of $6.48 billion, a PE ratio of 20.05, a PEG ratio of 1.02 and a beta of 1.33.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The apparel retailer reported $1.16 earnings per share 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 net margin of 6.11% and a return on equity of 15.86%. The firm's quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $0.69 EPS. On average, analysts forecast that Urban Outfitters, Inc. will post 3.91 earnings per share for the current year.

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.