Urban Outfitters (NASDAQ:URBN) Hits New 52-Week High – Here’s What Happened

Urban Outfitters, Inc. (NASDAQ:URBN)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $56.04 and last traded at $55.83, with a volume of 448683 shares trading hands. The stock had previously closed at $54.55.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on URBN shares. Barclays boosted their target price on Urban Outfitters from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Telsey Advisory Group boosted their price objective on Urban Outfitters from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Bank of America raised their target price on Urban Outfitters from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Wells Fargo & Company boosted their price target on shares of Urban Outfitters from $40.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Finally, Citigroup upgraded shares of Urban Outfitters from a “neutral” rating to a “buy” rating and raised their price objective for the company from $42.00 to $59.00 in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $46.27.

Urban Outfitters Price Performance

The stock’s fifty day moving average price is $43.44 and its 200-day moving average price is $41.60. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 1.10 and a beta of 1.60.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in URBN. Blue Trust Inc. grew its holdings in shares of Urban Outfitters by 138.8% during the 3rd quarter. Blue Trust Inc. now owns 609 shares of the apparel retailer’s stock valued at $25,000 after acquiring an additional 354 shares in the last quarter. Quarry LP boosted its position in Urban Outfitters by 1,825.0% during the second quarter. Quarry LP now owns 924 shares of the apparel retailer’s stock valued at $38,000 after purchasing an additional 876 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Urban Outfitters in the second quarter valued at about $42,000. Asset Management One Co. Ltd. acquired a new position in Urban Outfitters in the 3rd quarter worth about $47,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Urban Outfitters during the 2nd quarter worth about $48,000. Institutional investors and hedge funds own 77.61% of the company’s stock.

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.