Urban Outfitters (NASDAQ:URBN) Upgraded to "Buy" at Citigroup

Citigroup upgraded shares of Urban Outfitters (NASDAQ:URBN - Free Report) from a neutral rating to a buy rating in a report issued on Wednesday, MarketBeat.com reports. Citigroup currently has $59.00 price target on the apparel retailer's stock, up from their prior price target of $42.00.

A number of other research firms also recently issued reports on URBN. Wells Fargo & Company dropped their target price on shares of Urban Outfitters from $48.00 to $40.00 and set an "equal weight" rating for the company in a research report on Thursday, August 22nd. Jefferies Financial Group reduced their price objective on Urban Outfitters from $35.00 to $34.00 and set an "underperform" rating on the stock in a research note on Thursday, August 22nd. Morgan Stanley reduced their target price on shares of Urban Outfitters from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 22nd. Barclays cut their price target on Urban Outfitters from $52.00 to $43.00 and set an "overweight" rating on the stock in a research note on Thursday, August 22nd. Finally, Bank of America dropped their price target on Urban Outfitters from $52.00 to $46.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $46.27.

Urban Outfitters Stock Up 18.9 %

Shares of URBN stock traded up $7.57 during mid-day trading on Wednesday, hitting $47.71. 6,454,552 shares of the company's stock were exchanged, compared to its average volume of 1,701,405. Urban Outfitters has a fifty-two week low of $33.17 and a fifty-two week high of $48.90. The stock has a 50-day simple moving average of $37.24 and a two-hundred day simple moving average of $40.06. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 0.95 and a beta of 1.50.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 EPS for the quarter, topping the consensus estimate of $0.82 by $0.28. Urban Outfitters had a net margin of 5.83% and a return on equity of 15.49%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the business posted $0.88 earnings per share. Urban Outfitters's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, analysts anticipate that Urban Outfitters will post 3.65 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Tricia D. Smith sold 11,730 shares of the business's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $35.29, for a total transaction of $413,951.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 31.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Urban Outfitters

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its holdings in Urban Outfitters by 287.4% in the second quarter. Harbor Capital Advisors Inc. now owns 46,300 shares of the apparel retailer's stock worth $1,901,000 after purchasing an additional 34,350 shares in the last quarter. Wesbanco Bank Inc. acquired a new stake in Urban Outfitters in the 2nd quarter valued at approximately $582,000. Nisa Investment Advisors LLC increased its position in Urban Outfitters by 5.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 10,026 shares of the apparel retailer's stock worth $412,000 after buying an additional 531 shares during the period. Aigen Investment Management LP bought a new stake in shares of Urban Outfitters in the third quarter valued at approximately $2,143,000. Finally, Fisher Asset Management LLC grew its stake in shares of Urban Outfitters by 3.1% in the third quarter. Fisher Asset Management LLC now owns 2,073,416 shares of the apparel retailer's stock worth $79,433,000 after acquiring an additional 62,019 shares during the last quarter. 77.61% of the stock is owned by hedge funds and other institutional investors.

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.