Urban Outfitters (NASDAQ:URBN) Sets New 12-Month High - Here's Why

Urban Outfitters, Inc. (NASDAQ:URBN - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $59.05 and last traded at $56.69, with a volume of 1527924 shares trading hands. The stock had previously closed at $58.44.

Analyst Ratings Changes

Several analysts recently issued reports on URBN shares. JPMorgan Chase & Co. upped their price objective on shares of Urban Outfitters from $46.00 to $54.00 and gave the stock a "neutral" rating in a report on Wednesday. Bank of America upped their price target on shares of Urban Outfitters from $46.00 to $53.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Morgan Stanley raised their price target on Urban Outfitters from $38.00 to $41.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 27th. Telsey Advisory Group boosted their price objective on Urban Outfitters from $44.00 to $46.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company raised their target price on Urban Outfitters from $40.00 to $48.00 and gave the company an "equal weight" rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $47.18.

Urban Outfitters Stock Up 0.7 %

The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 1.10 and a beta of 1.55. The company's 50-day moving average is $47.44 and its 200-day moving average is $42.46.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.25. The firm 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 15.86% and a net margin of 6.11%. The business's revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 earnings per share. On average, research analysts forecast that Urban Outfitters, Inc. will post 3.88 earnings per share for the current year.

Institutional Trading of Urban Outfitters

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its holdings in Urban Outfitters by 138.8% during the 3rd quarter. Blue Trust Inc. now owns 609 shares of the apparel retailer's stock worth $25,000 after acquiring an additional 354 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Urban Outfitters by 36.3% during the fourth quarter. GAMMA Investing LLC now owns 759 shares of the apparel retailer's stock valued at $42,000 after purchasing an additional 202 shares during the last quarter. Quarry LP increased its holdings in shares of Urban Outfitters by 1,825.0% in the second quarter. Quarry LP now owns 924 shares of the apparel retailer's stock valued at $38,000 after purchasing an additional 876 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Urban Outfitters in the 2nd quarter worth approximately $42,000. Finally, Meeder Asset Management Inc. acquired a new position in Urban Outfitters during the 2nd quarter worth $48,000. Institutional investors and hedge funds own 77.61% of the company's stock.

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.