Zacks Research Upgrades Urban Outfitters (NASDAQ:URBN) to Strong-Buy

Urban Outfitters (NASDAQ:URBN) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other equities analysts have also recently commented on the company. Bank of America increased their target price on Urban Outfitters from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Jefferies Financial Group restated a “hold” rating and issued a $72.00 price target on shares of Urban Outfitters in a research note on Thursday, May 21st. Barclays cut their price target on shares of Urban Outfitters from $102.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, May 22nd. Morgan Stanley reissued an “overweight” rating and set a $89.00 price objective on shares of Urban Outfitters in a report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Urban Outfitters from $94.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

Urban Outfitters Price Performance

Shares of Urban Outfitters stock opened at $68.02 on Tuesday. The business has a 50-day moving average of $71.85 and a 200-day moving average of $70.53. The company has a market capitalization of $5.83 billion, a PE ratio of 13.06, a P/E/G ratio of 1.26 and a beta of 1.22. Urban Outfitters has a 1-year low of $59.53 and a 1-year high of $84.35.

Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.18. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company earned $1.16 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities analysts expect that Urban Outfitters will post 6.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Azeez Hayne sold 8,733 shares of Urban Outfitters stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $73.18, for a total value of $639,080.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Melanie Marein-Efron sold 5,036 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $73.42, for a total transaction of $369,743.12. Following the sale, the chief financial officer directly owned 17,023 shares of the company’s stock, valued at approximately $1,249,828.66. This represents a 22.83% decrease in their position. The SEC filing for this sale provides additional information. 32.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Urban Outfitters

Large investors have recently bought and sold shares of the business. Eurizon Capital SGR S.p.A. acquired a new position in Urban Outfitters in the fourth quarter valued at approximately $27,000. Brown Brothers Harriman & Co. raised its position in shares of Urban Outfitters by 815.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer’s stock worth $28,000 after purchasing an additional 326 shares during the period. Salomon & Ludwin LLC lifted its holdings in shares of Urban Outfitters by 58.4% in the 4th quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 149 shares during the last quarter. Spire Wealth Management lifted its holdings in shares of Urban Outfitters by 83.3% in the 4th quarter. Spire Wealth Management now owns 440 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 200 shares during the last quarter. Finally, Richardson Financial Services Inc. boosted its position in Urban Outfitters by 90.3% during the 4th quarter. Richardson Financial Services Inc. now owns 432 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 205 shares during the period. Institutional investors own 77.61% of the company’s stock.

About Urban Outfitters

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city’s historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.