Urban Outfitters (NASDAQ:URBN) Sets New 1-Year High – Here’s What Happened

Urban Outfitters, Inc. (NASDAQ:URBN)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $60.57 and last traded at $60.44, with a volume of 3273683 shares changing hands. The stock had previously closed at $55.01.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Citigroup upgraded Urban Outfitters from a “neutral” rating to a “buy” rating and increased their target price for the company from $42.00 to $59.00 in a research note on Wednesday, November 27th. Morgan Stanley upgraded Urban Outfitters from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $41.00 to $63.00 in a research note on Tuesday. StockNews.com upgraded Urban Outfitters from a “hold” rating to a “buy” rating in a research report on Saturday. Wells Fargo & Company raised their price objective on Urban Outfitters from $48.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Friday, January 10th. Finally, Barclays raised their price objective on Urban Outfitters from $51.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. One equities 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 stock presently has a consensus rating of “Hold” and a consensus target price of $53.64.

Urban Outfitters Stock Performance

The firm has a market cap of $5.58 billion, a P/E ratio of 17.32, a P/E/G ratio of 1.14 and a beta of 1.55. The company has a 50-day moving average of $50.86 and a 200 day moving average of $43.28.

Urban Outfitters (NASDAQ:URBN) last posted its earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 EPS for the quarter, topping the consensus estimate of $0.85 by $0.25. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company earned $0.88 EPS. Urban Outfitters’s revenue was up 6.3% on a year-over-year basis. Sell-side analysts anticipate that Urban Outfitters, Inc. will post 3.9 EPS for the current fiscal year.

Insider Activity at Urban Outfitters

In related news, Director Harry S. Cherken, Jr. sold 55,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $57.31, for a total transaction of $3,152,050.00. Following the completion of the sale, the director now directly owns 510,296 shares of the company’s stock, valued at $29,245,063.76. This trade represents a 9.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On Urban Outfitters

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp increased its stake in shares of Urban Outfitters by 1.1% in the 3rd quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer’s stock valued at $107,244,000 after buying an additional 31,100 shares during the period. Marshall Wace LLP increased 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 buying an additional 1,230,771 shares during the period. Fisher Asset Management LLC increased its stake in shares of Urban Outfitters by 3.1% in 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 buying an additional 62,019 shares during the period. Geode Capital Management LLC increased its stake in shares of 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 buying an additional 18,249 shares during the period. Finally, Systematic Financial Management LP increased its stake in shares of Urban Outfitters by 5.5% in the 3rd quarter. Systematic Financial Management LP now owns 721,732 shares of the apparel retailer’s stock valued at $27,650,000 after buying an additional 37,599 shares during the period. 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.