Urban Outfitters (NASDAQ:URBN) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Urban Outfitters has been upgraded by Zacks Research to a "Strong-Buy" rating, highlighting increased analyst confidence in the stock's performance.
• Several analysts increased their price targets for Urban Outfitters, with Bank of America raising it from $90 to $93, reflecting a robust outlook for the retailer.
• The company's recent earnings report showed EPS of $1.58, surpassing estimates and revealing a year-over-year revenue growth of 11.3%.

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

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Urban Outfitters from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. UBS Group lifted their price objective on shares of Urban Outfitters from $78.00 to $79.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 2nd. Citigroup reiterated a "neutral" rating and issued a $76.00 target price (up from $75.00) on shares of Urban Outfitters in a report on Wednesday, August 20th. Barclays reiterated an "overweight" rating and issued a $89.00 target price on shares of Urban Outfitters in a report on Friday, August 29th. Finally, Bank of America raised their price target on shares of Urban Outfitters from $90.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Urban Outfitters has an average rating of "Moderate Buy" and an average target price of $81.91.

Urban Outfitters Trading Down 4.2%

URBN opened at $70.01 on Monday. The company has a fifty day simple moving average of $73.45 and a 200 day simple moving average of $66.19. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.15 and a beta of 1.26. Urban Outfitters has a twelve month low of $34.76 and a twelve month high of $80.71.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The apparel retailer reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.14. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.43%. 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 prior year, the firm posted $1.24 EPS. The firm's revenue was up 11.3% compared to the same quarter last year. On average, analysts forecast that Urban Outfitters will post 3.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Urban Outfitters

In other Urban Outfitters news, Director Mary Egan sold 1,000 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $70.12, for a total transaction of $70,120.00. Following the sale, the director owned 14,250 shares of the company's stock, valued at $999,210. This represents a 6.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 31.80% of the company's stock.

Institutional Trading of Urban Outfitters

Several hedge funds have recently bought and sold shares of the stock. Hollencrest Capital Management bought a new position in shares of Urban Outfitters in the second quarter valued at $26,000. Cullen Frost Bankers Inc. boosted its position 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 valued at $34,000 after acquiring an additional 301 shares during the period. Federated Hermes Inc. boosted its position in shares of 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 acquiring an additional 687 shares during the period. Kilter Group LLC bought a new stake in Urban Outfitters during the second quarter worth about $36,000. Finally, EverSource Wealth Advisors LLC lifted its position in Urban Outfitters by 125.1% during 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 during the period. 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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