Brokerages Set Urban Outfitters, Inc. (NASDAQ:URBN) Price Target at $87.00

Urban Outfitters, Inc. (NASDAQ:URBN) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $87.9091.

Several equities analysts have issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and set a $72.00 target price on shares of Urban Outfitters in a research report on Thursday, May 21st. Morgan Stanley reissued an “overweight” rating and issued a $89.00 price target on shares of Urban Outfitters in a report on Monday, July 6th. Bank of America upped their price objective on Urban Outfitters from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Zacks Research upgraded Urban Outfitters from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. raised their target price on Urban Outfitters from $94.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, May 21st.

Insider Transactions at Urban Outfitters

In other Urban Outfitters news, insider Azeez Hayne sold 8,733 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $73.18, for a total transaction of $639,080.94. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Melanie Marein-Efron sold 5,036 shares of Urban Outfitters stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $73.42, for a total transaction of $369,743.12. Following the sale, the chief financial officer owned 17,023 shares of the company’s stock, valued at approximately $1,249,828.66. The trade was a 22.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 32.10% of the company’s stock.

Hedge Funds Weigh In On Urban Outfitters

Several hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Urban Outfitters by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,728 shares of the apparel retailer’s stock valued at $1,977,000 after buying an additional 1,653 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Urban Outfitters by 10.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,668 shares of the apparel retailer’s stock valued at $7,476,000 after acquiring an additional 13,554 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Urban Outfitters by 343.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,435 shares of the apparel retailer’s stock valued at $177,000 after acquiring an additional 1,886 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Urban Outfitters by 125.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 493 shares of the apparel retailer’s stock valued at $36,000 after acquiring an additional 274 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Urban Outfitters by 14.0% during the 2nd quarter. First Trust Advisors LP now owns 182,547 shares of the apparel retailer’s stock valued at $13,242,000 after acquiring an additional 22,393 shares in the last quarter. 77.61% of the stock is owned by hedge funds and other institutional investors.

Urban Outfitters Stock Down 0.0%

Shares of NASDAQ:URBN opened at $73.71 on Friday. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.36 and a beta of 1.22. The firm’s 50-day simple moving average is $72.40 and its 200-day simple moving average is $70.16. Urban Outfitters has a fifty-two week low of $59.53 and a fifty-two week high of $84.35.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.18. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 earnings per share. On average, research analysts forecast that Urban Outfitters will post 6.13 EPS for the current year.

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.