Urban Outfitters (NASDAQ:URBN) Raised to Buy at Wall Street Zen

Urban Outfitters (NASDAQ:URBN) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

Several other research firms have also weighed in on URBN. Barclays lowered their price objective on Urban Outfitters from $102.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, May 22nd. Bank of America boosted their price target on shares of Urban Outfitters from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Morgan Stanley reiterated an “overweight” rating and issued a $89.00 target price on shares of Urban Outfitters in a report on Monday, July 6th. The Goldman Sachs Group raised Urban Outfitters from a “neutral” rating to a “buy” rating and increased their target price for the stock from $76.00 to $93.00 in a research note on Monday, July 20th. Finally, JPMorgan Chase & Co. increased their target price on Urban Outfitters from $97.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, August 18th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Urban Outfitters presently has an average rating of “Moderate Buy” and a consensus price target of $89.73.

Urban Outfitters Trading Up 2.4%

Shares of NASDAQ URBN opened at $76.05 on Friday. The business has a fifty day simple moving average of $73.70 and a 200 day simple moving average of $70.63. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 1.37 and a beta of 1.23. Urban Outfitters has a one year low of $59.53 and a one year high of $84.35.

Institutional Trading of Urban Outfitters

A number of hedge funds have recently made changes to their positions in URBN. California State Teachers Retirement System raised its stake in Urban Outfitters by 6,498.9% in the 2nd quarter. California State Teachers Retirement System now owns 4,540,851 shares of the apparel retailer’s stock valued at $321,765,000 after acquiring an additional 4,472,039 shares during the period. AlphaGrep UK Ltd bought a new position in Urban Outfitters during the second quarter worth $501,000. Concurrent Investment Advisors LLC increased its holdings in shares of Urban Outfitters by 2.8% in the second quarter. Concurrent Investment Advisors LLC now owns 9,584 shares of the apparel retailer’s stock valued at $679,000 after purchasing an additional 263 shares during the last quarter. Nykredit A S bought a new position in shares of Urban Outfitters in the second quarter valued at about $118,000. Finally, Proficio Capital Partners LLC raised its position in shares of Urban Outfitters by 11.6% in the second quarter. Proficio Capital Partners LLC now owns 21,376 shares of the apparel retailer’s stock valued at $1,515,000 after purchasing an additional 2,215 shares during the period. 77.61% of the stock is owned by institutional investors and hedge funds.

Urban Outfitters Company Profile

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.