Urban Outfitters (NASDAQ:URBN) Upgraded at Zacks Research

Key Points

• Urban Outfitters was upgraded by Zacks Research from hold to strong-buy, adding to a generally positive analyst tone around the stock.
• Other firms have also turned bullish recently, including upgrades from Weiss Ratings and Wall Street Zen, while Morgan Stanley, Barclays, and Bank of America maintained or raised positive targets. The stock now carries a Moderate Buy consensus with a $87 average price target.
• The company’s latest earnings beat expectations, with EPS of $1.30 versus $1.12 expected and revenue of $1.48 billion, up 11.4% year over year. Despite that, shares were trading at $68.02, below the consensus target.

Urban Outfitters (NASDAQ:URBN - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts also recently weighed in on URBN. Weiss Ratings raised shares of Urban Outfitters from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, June 26th. Morgan Stanley reissued an "overweight" rating and set a $89.00 price objective on shares of Urban Outfitters in a research note on Monday. Wall Street Zen upgraded Urban Outfitters from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Barclays cut their target price on Urban Outfitters from $102.00 to $100.00 and set an "overweight" rating on the stock in a research report on Friday, May 22nd. Finally, Bank of America boosted their price target on Urban Outfitters from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Urban Outfitters currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.00.

Urban Outfitters Stock Performance

Shares of URBN stock opened at $68.02 on Tuesday. Urban Outfitters has a 1 year low of $59.53 and a 1 year high of $84.35. The stock has a market cap of $5.83 billion, a PE ratio of 13.06, a P/E/G ratio of 1.26 and a beta of 1.22. The stock has a fifty day moving average price of $71.85 and a 200 day moving average price of $70.53.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $1.30 EPS for the quarter, beating the consensus estimate of $1.12 by $0.18. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the business earned $1.16 earnings per share. The company's quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts predict that Urban Outfitters will post 6.13 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Melanie Marein-Efron sold 5,036 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $73.42, for a total value of $369,743.12. Following the transaction, the chief financial officer directly owned 17,023 shares in the company, valued at approximately $1,249,828.66. This trade represents a 22.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Azeez Hayne sold 8,733 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $73.18, for a total value of $639,080.94. The disclosure for this sale is available in the SEC filing. 32.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Cinctive Capital Management LP acquired a new position in shares of Urban Outfitters in the 3rd quarter worth $4,104,000. HighTower Advisors LLC lifted its holdings in shares of Urban Outfitters by 883.4% during the fourth quarter. HighTower Advisors LLC now owns 43,081 shares of the apparel retailer's stock valued at $3,242,000 after purchasing an additional 38,700 shares during the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of Urban Outfitters by 33.8% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,297,452 shares of the apparel retailer's stock valued at $97,646,000 after purchasing an additional 327,453 shares during the last quarter. Braun Stacey Associates Inc. acquired a new position in shares of Urban Outfitters in the 4th quarter valued at $19,366,000. Finally, UBS Group AG boosted its position in shares of Urban Outfitters by 339.3% in the 4th quarter. UBS Group AG now owns 641,454 shares of the apparel retailer's stock valued at $48,276,000 after purchasing an additional 495,441 shares during the period. Institutional investors own 77.61% of the company's stock.

About Urban Outfitters

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city's historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.

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