Urban Outfitters (URBN) Shares Gap Up After Analyst Upgrade

Urban Outfitters (NASDAQ:URBN) shares gapped up prior to trading on Wednesday after Citigroup raised their price target on the stock from $41.00 to $48.00. The stock had previously closed at $47.88, but opened at $47.94. Citigroup currently has a neutral rating on the stock. Urban Outfitters shares last traded at $46.96, with a volume of 65493 shares changing hands.

Several other research analysts have also recently issued reports on URBN. Telsey Advisory Group upped their price target on Urban Outfitters from $42.00 to $53.00 and gave the company a “market perform” rating in a report on Tuesday. Nomura upped their price target on Urban Outfitters from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday. Bank of America upped their price target on Urban Outfitters from $48.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday. BidaskClub raised Urban Outfitters from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 7th. Finally, B. Riley upped their price target on Urban Outfitters from $37.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, May 24th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $40.83.

In other Urban Outfitters news, CEO Trish Donnelly sold 10,311 shares of the firm’s stock in a transaction that occurred on Tuesday, April 10th. The shares were sold at an average price of $38.62, for a total value of $398,210.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Margaret Hayne sold 41,100 shares of the firm’s stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $36.65, for a total transaction of $1,506,315.00. Following the completion of the transaction, the chief executive officer now directly owns 1,066,184 shares in the company, valued at $39,075,643.60. The disclosure for this sale can be found here. Insiders have sold 389,530 shares of company stock worth $15,240,008 over the last three months. 25.90% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its stake in Urban Outfitters by 6.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 357,895 shares of the apparel retailer’s stock valued at $12,548,000 after buying an additional 21,781 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Urban Outfitters by 42.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,094 shares of the apparel retailer’s stock valued at $179,000 after acquiring an additional 1,522 shares during the period. Aperio Group LLC grew its position in shares of Urban Outfitters by 14.8% in the 4th quarter. Aperio Group LLC now owns 32,425 shares of the apparel retailer’s stock valued at $1,137,000 after acquiring an additional 4,185 shares during the period. ING Groep NV boosted its holdings in shares of Urban Outfitters by 21.4% during the 4th quarter. ING Groep NV now owns 12,087 shares of the apparel retailer’s stock worth $424,000 after buying an additional 2,133 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in shares of Urban Outfitters during the 4th quarter worth about $942,000. Institutional investors and hedge funds own 71.32% of the company’s stock.

The firm has a market cap of $5.10 billion, a PE ratio of 27.54, a PEG ratio of 1.59 and a beta of 0.52.

Urban Outfitters (NASDAQ:URBN) last issued its earnings results on Tuesday, May 22nd. The apparel retailer reported $0.38 EPS for the quarter, beating the consensus estimate of $0.30 by $0.08. The company had revenue of $855.70 million during the quarter, compared to analysts’ expectations of $837.79 million. Urban Outfitters had a net margin of 3.71% and a return on equity of 16.13%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 EPS. equities analysts predict that Urban Outfitters will post 2.46 EPS for the current year.

About Urban Outfitters

Urban Outfitters, Inc, a lifestyle products and services company, engages in the retail and wholesale of general consumer products. The company retails women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28 under the Urban Outfitters brand; and women's casual apparel and accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty products for women aged 28 to 45 under the Anthropologie brand.

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