Urban Outfitters (NASDAQ:URBN) Hits New 12-Month High After Analyst Upgrade

Urban Outfitters, Inc. (NASDAQ:URBN - Get Free Report)'s share price hit a new 52-week high during trading on Monday after StockNews.com upgraded the stock from a hold rating to a buy rating. The company traded as high as $61.16 and last traded at $60.53, with a volume of 1523011 shares traded. The stock had previously closed at $58.19.

URBN has been the subject of several other research reports. Robert W. Baird lifted their price target on Urban Outfitters from $60.00 to $62.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. Telsey Advisory Group upped their price objective on Urban Outfitters from $56.00 to $59.00 and gave the stock a "market perform" rating in a report on Thursday, February 27th. JPMorgan Chase & Co. upped their price target on Urban Outfitters from $46.00 to $54.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 8th. Citigroup raised Urban Outfitters from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $42.00 to $59.00 in a research note on Wednesday, November 27th. Finally, Barclays boosted their target price on Urban Outfitters from $63.00 to $68.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $56.00.

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Insider Buying and Selling

In other news, Director Wesley S. Mcdonald sold 8,300 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $58.44, for a total transaction of $485,052.00. Following the sale, the director now directly owns 15,450 shares in the company, valued at approximately $902,898. This represents a 34.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry S. Cherken, Jr. sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $50.50, for a total value of $757,500.00. Following the completion of the sale, the director now directly owns 495,296 shares in the company, valued at approximately $25,012,448. This trade represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,300 shares of company stock worth $4,394,602. Insiders own 31.80% of the company's stock.

Hedge Funds Weigh In On Urban Outfitters

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its holdings in shares of Urban Outfitters by 26.9% in the third quarter. Farther Finance Advisors LLC now owns 3,707 shares of the apparel retailer's stock valued at $142,000 after buying an additional 785 shares during the period. Asset Management One Co. Ltd. bought a new position in shares of Urban Outfitters in the third quarter valued at $47,000. Olympiad Research LP grew its holdings in shares of Urban Outfitters by 43.7% in the 3rd quarter. Olympiad Research LP now owns 7,561 shares of the apparel retailer's stock worth $290,000 after acquiring an additional 2,301 shares during the last quarter. Easterly Investment Partners LLC raised its position in shares of Urban Outfitters by 2.2% during the third quarter. Easterly Investment Partners LLC now owns 259,081 shares of the apparel retailer's stock worth $9,925,000 after purchasing an additional 5,635 shares during the period. Finally, Versor Investments LP raised its position in shares of Urban Outfitters by 13.4% during the third quarter. Versor Investments LP now owns 8,502 shares of the apparel retailer's stock worth $326,000 after purchasing an additional 1,002 shares during the period. 77.61% of the stock is currently owned by institutional investors and hedge funds.

Urban Outfitters Price Performance

The firm has a market capitalization of $4.99 billion, a PE ratio of 15.50, a P/E/G ratio of 1.02 and a beta of 1.56. The firm has a fifty day moving average price of $56.09 and a 200 day moving average price of $45.94.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its earnings results on Wednesday, February 26th. The apparel retailer reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.15. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. On average, sell-side analysts expect that Urban Outfitters, Inc. will post 3.91 EPS for the current year.

Urban Outfitters Company Profile

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.