Urban Outfitters (NASDAQ:URBN) Given New $41.00 Price Target at Morgan Stanley

Urban Outfitters (NASDAQ:URBN) had its target price lifted by Morgan Stanley from $38.00 to $41.00 in a research note released on Wednesday,Benzinga reports. They currently have an equal weight rating on the apparel retailer’s stock.

A number of other equities analysts have also weighed in on URBN. Citigroup upgraded Urban Outfitters from a “neutral” rating to a “buy” rating and increased their price target for the company from $42.00 to $59.00 in a research report on Wednesday. StockNews.com downgraded shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Barclays upped their price target on shares of Urban Outfitters from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday. Telsey Advisory Group lifted their price objective on shares of Urban Outfitters from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, Jefferies Financial Group reduced their target price on Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Urban Outfitters currently has an average rating of “Hold” and an average price target of $46.27.

Urban Outfitters Price Performance

Shares of URBN opened at $47.49 on Wednesday. The firm’s 50 day moving average is $37.24 and its 200-day moving average is $40.06. Urban Outfitters has a 12-month low of $33.17 and a 12-month high of $48.90. The stock has a market capitalization of $4.38 billion, a P/E ratio of 14.52, a P/E/G ratio of 0.95 and a beta of 1.50.

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

Insider Transactions at Urban Outfitters

In related news, CEO Tricia D. Smith sold 11,730 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $35.29, for a total value of $413,951.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 31.80% of the company’s stock.

Institutional Trading of Urban Outfitters

Several large investors have recently added to or reduced their stakes in URBN. Franklin Resources Inc. raised its holdings in shares of Urban Outfitters by 7.6% during the 3rd quarter. Franklin Resources Inc. now owns 35,686 shares of the apparel retailer’s stock valued at $1,315,000 after purchasing an additional 2,527 shares in the last quarter. Geode Capital Management LLC raised its holdings in Urban Outfitters by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer’s stock valued at $56,765,000 after buying an additional 18,249 shares in the last quarter. XTX Topco Ltd raised its holdings in Urban Outfitters by 367.0% during the third quarter. XTX Topco Ltd now owns 25,427 shares of the apparel retailer’s stock valued at $974,000 after buying an additional 19,982 shares in the last quarter. Zacks Investment Management lifted its position in shares of Urban Outfitters by 10.4% in the third quarter. Zacks Investment Management now owns 43,607 shares of the apparel retailer’s stock worth $1,671,000 after buying an additional 4,092 shares during the last quarter. Finally, Weiss Asset Management LP bought a new stake in shares of Urban Outfitters during the 3rd quarter worth about $3,894,000. 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.