Urban Outfitters (NASDAQ:URBN) Price Target Raised to $70.00

Urban Outfitters (NASDAQ:URBN - Free Report) had its target price boosted by Wells Fargo & Company from $55.00 to $70.00 in a report published on Thursday, MarketBeat Ratings reports. The firm currently has an equal weight rating on the apparel retailer's stock.

Other research analysts also recently issued reports about the company. Wall Street Zen upgraded Urban Outfitters from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Telsey Advisory Group reiterated a "market perform" rating and issued a $72.00 price objective (up from $59.00) on shares of Urban Outfitters in a research report on Friday, May 16th. UBS Group boosted their price objective on shares of Urban Outfitters from $45.00 to $54.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Glj Research restated a "sell" rating on shares of Urban Outfitters in a research report on Thursday, May 22nd. Finally, Robert W. Baird lifted their target price on shares of Urban Outfitters from $60.00 to $62.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $67.45.

Urban Outfitters Stock Performance

Urban Outfitters stock traded up $3.20 during midday trading on Thursday, hitting $75.48. 1,478,663 shares of the company's stock were exchanged, compared to its average volume of 1,943,267. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 1.02 and a beta of 1.33. Urban Outfitters has a 12-month low of $33.86 and a 12-month high of $75.54. The firm's 50 day simple moving average is $53.29 and its 200 day simple moving average is $52.71.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.35. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.29 billion. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The business's revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $0.69 earnings per share. On average, equities research 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, insider Azeez Hayne sold 11,676 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $54.75, for a total transaction of $639,261.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tricia D. Smith sold 10,000 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $53.94, for a total transaction of $539,400.00. Following the completion of the transaction, the chief executive officer now directly owns 12,601 shares of the company's stock, valued at approximately $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 29,976 shares of company stock valued at $1,663,713 in the last ninety days. 31.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Urban Outfitters

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp grew its holdings in Urban Outfitters by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 525 shares of the apparel retailer's stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. GSA Capital Partners LLP grew its stake in Urban Outfitters by 2.0% in the 1st quarter. GSA Capital Partners LLP now owns 10,401 shares of the apparel retailer's stock valued at $545,000 after acquiring an additional 203 shares during the last quarter. Xponance Inc. raised its position in Urban Outfitters by 4.9% during the first quarter. Xponance Inc. now owns 4,782 shares of the apparel retailer's stock worth $251,000 after acquiring an additional 222 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Urban Outfitters by 1.2% in the first quarter. PNC Financial Services Group Inc. now owns 19,288 shares of the apparel retailer's stock valued at $1,011,000 after purchasing an additional 228 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Urban Outfitters by 10.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,664 shares of the apparel retailer's stock valued at $146,000 after purchasing an additional 250 shares during the last quarter. 77.61% of the stock is 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.