Urban Outfitters (NASDAQ:URBN) Sets New 12-Month High - Time to Buy?

Urban Outfitters, Inc. (NASDAQ:URBN - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $56.48 and last traded at $56.35, with a volume of 270694 shares trading hands. The stock had previously closed at $54.88.

Analyst Ratings Changes

Several analysts have recently weighed in on URBN shares. StockNews.com upgraded shares of Urban Outfitters from a "hold" rating to a "buy" rating in a research report on Thursday. Robert W. Baird upped their price target on Urban Outfitters from $47.00 to $49.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 27th. Bank of America lifted their price objective on Urban Outfitters from $46.00 to $53.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Wells Fargo & Company increased their price target on shares of Urban Outfitters from $40.00 to $48.00 and gave the company an "equal weight" rating in a report on Wednesday, November 27th. Finally, Barclays upped their target price on Urban Outfitters from $43.00 to $51.00 and gave the company an "overweight" rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Urban Outfitters currently has a consensus rating of "Hold" and an average target price of $46.27.

Urban Outfitters Stock Performance

The company has a market capitalization of $5.25 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 1.10 and a beta of 1.60. The stock's fifty day simple moving average is $45.31 and its 200-day simple moving average is $42.03.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.25. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. Urban Outfitters's revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 earnings per share. On average, equities analysts anticipate that Urban Outfitters, Inc. will post 3.88 EPS for the current year.

Institutional Investors Weigh In On Urban Outfitters

Several hedge funds have recently modified their holdings of the stock. State Street Corp increased its position in Urban Outfitters by 1.1% during the 3rd quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer's stock worth $107,244,000 after purchasing an additional 31,100 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Urban Outfitters by 116.3% in the 2nd quarter. Marshall Wace LLP now owns 2,288,817 shares of the apparel retailer's stock valued at $93,956,000 after acquiring an additional 1,230,771 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Urban Outfitters by 3.1% during the 3rd quarter. Fisher Asset Management LLC now owns 2,073,416 shares of the apparel retailer's stock valued at $79,433,000 after acquiring an additional 62,019 shares in the last quarter. American Century Companies Inc. boosted its position in Urban Outfitters by 20.5% during the 2nd quarter. American Century Companies Inc. now owns 1,555,067 shares of the apparel retailer's stock worth $63,836,000 after purchasing an additional 264,708 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Urban Outfitters by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer's stock valued at $56,765,000 after purchasing an additional 18,249 shares in the last quarter. 77.61% of the stock is owned by institutional investors and hedge funds.

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.