Urban Outfitters (NASDAQ:URBN) Price Target Raised to $60.00

Urban Outfitters (NASDAQ:URBN - Free Report) had its target price hoisted by Wells Fargo & Company from $48.00 to $60.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the apparel retailer's stock.

Several other analysts have also weighed in on URBN. StockNews.com lowered Urban Outfitters from a "buy" rating to a "hold" rating in a research note on Friday. Citigroup raised shares of Urban Outfitters from a "neutral" rating to a "buy" rating and lifted their price target for the company from $42.00 to $59.00 in a report on Wednesday, November 27th. JPMorgan Chase & Co. increased their price objective on shares of Urban Outfitters from $46.00 to $54.00 and gave the company a "neutral" rating in a research note on Wednesday. Robert W. Baird boosted their target price on shares of Urban Outfitters from $47.00 to $49.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 27th. Finally, Morgan Stanley raised their price objective on Urban Outfitters from $38.00 to $41.00 and gave the company an "equal weight" rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Urban Outfitters has a consensus rating of "Hold" and a consensus price target of $49.64.

Urban Outfitters Trading Down 0.2 %

Shares of NASDAQ:URBN traded down $0.14 on Friday, reaching $56.96. 2,667,541 shares of the company's stock were exchanged, compared to its average volume of 1,891,469. Urban Outfitters has a twelve month low of $33.86 and a twelve month high of $59.05. The company has a fifty day moving average of $47.86 and a 200-day moving average of $42.56. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 1.10 and a beta of 1.55.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last issued its quarterly 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 business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 earnings per share. As a group, equities research analysts forecast that Urban Outfitters will post 3.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Urban Outfitters

Several institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Urban Outfitters by 1.1% during the third quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer's stock valued at $107,244,000 after purchasing an additional 31,100 shares during the period. Marshall Wace LLP increased its holdings in shares of Urban Outfitters by 116.3% during the second 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 in the last quarter. Fisher Asset Management LLC raised its position in shares of Urban Outfitters by 3.1% during the third quarter. Fisher Asset Management LLC now owns 2,073,416 shares of the apparel retailer's stock worth $79,433,000 after purchasing an additional 62,019 shares during the period. American Century Companies Inc. lifted its holdings in shares of 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 worth $63,836,000 after purchasing an additional 264,708 shares in the last quarter. Finally, Geode Capital Management LLC grew its position 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 during the period. Institutional investors own 77.61% of the company's stock.

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.