Wells Fargo & Company Issues Positive Forecast for Urban Outfitters (NASDAQ:URBN) Stock Price

Urban Outfitters (NASDAQ:URBN - Get Free Report) had its price target upped by equities research analysts at Wells Fargo & Company from $55.00 to $70.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the apparel retailer's stock. Wells Fargo & Company's price target would suggest a potential upside of 17.45% from the company's current price.

A number of other analysts have also recently issued reports on URBN. StockNews.com raised shares of Urban Outfitters from a "hold" rating to a "buy" rating in a research note on Tuesday. Citigroup dropped their target price on shares of Urban Outfitters from $65.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Jefferies Financial Group raised their price target on Urban Outfitters from $42.00 to $46.00 and gave the company an "underperform" rating in a report on Wednesday. UBS Group boosted their price objective on Urban Outfitters from $45.00 to $54.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $59.00 target price on shares of Urban Outfitters in a research report on Friday, May 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $59.09.

Urban Outfitters Price Performance

Shares of URBN opened at $59.60 on Thursday. Urban Outfitters has a one year low of $33.86 and a one year high of $71.60. The business has a fifty day moving average of $51.88 and a 200 day moving average of $51.75. The firm has a market capitalization of $5.52 billion, a P/E ratio of 17.08, a PEG ratio of 1.02 and a beta of 1.33.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.35. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.29 billion. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. Urban Outfitters's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 earnings per share. Analysts expect that Urban Outfitters will post 3.91 EPS for the current fiscal year.

Insider Activity

In other news, insider Azeez Hayne sold 11,676 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $54.75, for a total value of $639,261.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Wesley S. Mcdonald sold 8,300 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $58.44, for a total transaction of $485,052.00. Following the completion of the transaction, the director now directly owns 15,450 shares of the company's stock, valued at approximately $902,898. The trade was a 34.95% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,976 shares of company stock worth $1,663,713. 31.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Urban Outfitters

Several large investors have recently added to or reduced their stakes in URBN. Allspring Global Investments Holdings LLC boosted its holdings in shares of Urban Outfitters by 1,016.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 131,606 shares of the apparel retailer's stock worth $7,223,000 after purchasing an additional 119,820 shares during the period. Bank of New York Mellon Corp boosted its stake in Urban Outfitters by 7.9% during the fourth quarter. Bank of New York Mellon Corp now owns 706,161 shares of the apparel retailer's stock worth $38,754,000 after buying an additional 51,657 shares during the period. Charles Schwab Investment Management Inc. increased its position in Urban Outfitters by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,174,966 shares of the apparel retailer's stock valued at $64,482,000 after acquiring an additional 60,697 shares during the last quarter. Amundi increased its position in Urban Outfitters by 850.3% during the fourth quarter. Amundi now owns 34,191 shares of the apparel retailer's stock valued at $1,952,000 after acquiring an additional 30,593 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Urban Outfitters in the 4th quarter worth about $31,605,000. 77.61% of the stock is owned by institutional investors.

About Urban Outfitters

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.