Bank of America Forecasts Strong Price Appreciation for Urban Outfitters (NASDAQ:URBN) Stock

Urban Outfitters (NASDAQ:URBN) had its target price raised by stock analysts at Bank of America from $46.00 to $53.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the apparel retailer’s stock. Bank of America‘s price objective would suggest a potential upside of 32.04% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Barclays cut their target price on shares of Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday, August 22nd. Robert W. Baird lifted their target price on Urban Outfitters from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday. Citigroup upgraded Urban Outfitters from a “neutral” rating to a “buy” rating and increased their price target for the stock from $42.00 to $59.00 in a report on Wednesday. Wells Fargo & Company cut their price objective on Urban Outfitters from $48.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Finally, Telsey Advisory Group raised their target price on shares of Urban Outfitters from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $44.55.

Urban Outfitters Price Performance

Shares of NASDAQ:URBN opened at $40.14 on Wednesday. Urban Outfitters has a one year low of $32.02 and a one year high of $48.90. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 0.95 and a beta of 1.50. The company has a 50 day moving average of $37.18 and a 200-day moving average of $40.06.

Urban Outfitters (NASDAQ:URBN) last released its earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.28. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. Urban Outfitters had a return on equity of 15.49% and a net margin of 5.83%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Equities research analysts anticipate that Urban Outfitters will post 3.65 earnings per share for the current year.

Insider Transactions at Urban Outfitters

In related news, CEO Tricia D. Smith sold 11,730 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $35.29, for a total value of $413,951.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Urban Outfitters

Several large investors have recently modified their holdings of URBN. Marshall Wace LLP boosted its holdings in shares of Urban Outfitters by 116.3% during the 2nd quarter. Marshall Wace LLP now owns 2,288,817 shares of the apparel retailer’s stock worth $93,956,000 after buying an additional 1,230,771 shares during the period. American Century Companies Inc. boosted its stake in Urban Outfitters by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 1,555,067 shares of the apparel retailer’s stock valued at $63,836,000 after purchasing an additional 264,708 shares during the period. Cerity Partners LLC acquired a new position in shares of Urban Outfitters in the third quarter valued at about $8,340,000. Empowered Funds LLC bought a new position in shares of Urban Outfitters during the third quarter worth approximately $7,789,000. Finally, Hennessy Advisors Inc. bought a new position in Urban Outfitters during the 2nd quarter worth $7,685,000. 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.