Urban Outfitters, Inc. (NASDAQ:URBN) gapped up prior to trading on Wednesday . The stock had previously closed at $31.23, but opened at $32.74. Urban Outfitters shares last traded at $33.71, with a volume of 3040045 shares.

Several equities research analysts recently issued reports on the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $37.00 price objective (down from $42.00) on shares of Urban Outfitters in a report on Friday. Wolfe Research reiterated an “outperform” rating and issued a $42.00 price objective (down from $49.00) on shares of Urban Outfitters in a report on Friday. Morgan Stanley upgraded Urban Outfitters from an “equal weight” rating to an “overweight” rating and set a $32.74 price objective on the stock in a report on Wednesday. JPMorgan Chase & Co. cut Urban Outfitters from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $50.00 to $38.00 in a report on Monday. Finally, Zacks Investment Research reiterated a “buy” rating and issued a $36.00 price objective on shares of Urban Outfitters in a report on Monday, December 31st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company. Urban Outfitters currently has an average rating of “Hold” and an average price target of $43.99.

The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 1.10 and a beta of 0.68.

Urban Outfitters (NASDAQ:URBN) last issued its earnings results on Monday, November 19th. The apparel retailer reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.07. The business had revenue of $973.50 million for the quarter, compared to analysts’ expectations of $967.82 million. Urban Outfitters had a return on equity of 20.65% and a net margin of 5.44%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 EPS. On average, equities analysts forecast that Urban Outfitters, Inc. will post 2.73 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of URBN. Mount Yale Investment Advisors LLC acquired a new position in Urban Outfitters in the second quarter valued at approximately $109,000. Point72 Hong Kong Ltd lifted its holdings in Urban Outfitters by 145.5% in the second quarter. Point72 Hong Kong Ltd now owns 2,600 shares of the apparel retailer’s stock valued at $116,000 after acquiring an additional 1,541 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in Urban Outfitters in the third quarter valued at approximately $149,000. Envestnet Asset Management Inc. lifted its holdings in Urban Outfitters by 679.4% in the second quarter. Envestnet Asset Management Inc. now owns 3,710 shares of the apparel retailer’s stock valued at $166,000 after acquiring an additional 3,234 shares during the last quarter. Finally, Kovack Advisors Inc. acquired a new position in Urban Outfitters in the third quarter valued at approximately $202,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

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Urban Outfitters Company Profile (NASDAQ:URBN)

Urban Outfitters, Inc, a lifestyle products and services company, engages in the retail and wholesale of general consumer products. The company retails women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28 under the Urban Outfitters brand; and women's casual apparel and accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty products for women aged 28 to 45 under the Anthropologie brand.

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