Urban Outfitters (NASDAQ:URBN) Reaches New 52-Week High After Analyst Upgrade

Shares of Urban Outfitters, Inc. (NASDAQ:URBN) reached a new 52-week high on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $46.00 to $54.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Urban Outfitters traded as high as $59.05 and last traded at $56.69, with a volume of 1527924 shares traded. The stock had previously closed at $58.44.

Several other research firms also recently weighed in on URBN. Morgan Stanley boosted their target price on shares of Urban Outfitters from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. StockNews.com upgraded Urban Outfitters from a “hold” rating to a “buy” rating in a report on Thursday, January 2nd. Bank of America lifted their price objective on shares of Urban Outfitters from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Citigroup raised shares of Urban Outfitters from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $42.00 to $59.00 in a research report on Wednesday, November 27th. Finally, Barclays increased their price target on Urban Outfitters from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Urban Outfitters has a consensus rating of “Hold” and an average price target of $47.18.

Institutional Investors Weigh In On Urban Outfitters

Several large investors have recently modified their holdings of URBN. State Street Corp grew 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 grew its stake in Urban Outfitters by 116.3% during 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 in the last quarter. Fisher Asset Management LLC increased its holdings 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 purchasing an additional 62,019 shares during the period. American Century Companies Inc. lifted its position in shares of Urban Outfitters by 20.5% in the second 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 boosted its holdings in shares of Urban Outfitters by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer’s stock worth $56,765,000 after purchasing an additional 18,249 shares during the period. 77.61% of the stock is owned by institutional investors.

Urban Outfitters Stock Up 0.7 %

The stock has a market capitalization of $5.27 billion, a PE ratio of 16.36, a P/E/G ratio of 1.10 and a beta of 1.55. The stock’s 50-day moving average is $47.86 and its 200 day moving average is $42.56.

Urban Outfitters (NASDAQ:URBN) last issued its earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.25. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that Urban Outfitters, Inc. will post 3.88 EPS for the current year.

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.