Urban Outfitters (NASDAQ:URBN) Given New $48.00 Price Target at Wells Fargo & Company

Urban Outfitters (NASDAQ:URBN) had its target price increased by Wells Fargo & Company from $40.00 to $48.00 in a report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the apparel retailer’s stock.

URBN has been the subject of a number of other research reports. Telsey Advisory Group increased their price target on shares of Urban Outfitters from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday. Barclays increased their target price on shares of Urban Outfitters from $43.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday. Morgan Stanley boosted their price target on Urban Outfitters from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Wednesday. Jefferies Financial Group decreased their price objective on Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating for the company in a research report on Thursday, August 22nd. Finally, Robert W. Baird lifted their target price on Urban Outfitters from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $46.27.

Urban Outfitters Price Performance

NASDAQ URBN opened at $47.49 on Wednesday. The company has a fifty day moving average of $37.24 and a two-hundred day moving average of $40.06. Urban Outfitters has a 1 year low of $33.17 and a 1 year high of $48.90. The company has a market capitalization of $4.38 billion, a PE ratio of 14.52, a P/E/G ratio of 0.95 and a beta of 1.50.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.28. Urban Outfitters had a return on equity of 15.49% and a net margin of 5.83%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the business posted $0.88 EPS. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, research analysts expect that Urban Outfitters will post 3.65 earnings per share for the current year.

Insider Transactions at Urban Outfitters

In related news, CEO Tricia D. Smith sold 11,730 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $35.29, for a total value of $413,951.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 31.80% of the company’s stock.

Institutional Trading of Urban Outfitters

Several large investors have recently bought and sold shares of the company. Marshall Wace LLP boosted its position 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 worth $93,956,000 after buying an additional 1,230,771 shares in the last quarter. American Century Companies Inc. lifted its holdings 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 valued at $63,836,000 after purchasing an additional 264,708 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Urban Outfitters in the third quarter valued at about $8,340,000. Empowered Funds LLC purchased a new position in shares of Urban Outfitters during the 3rd quarter worth approximately $7,789,000. Finally, Hennessy Advisors Inc. purchased a new position in shares of Urban Outfitters during the 2nd quarter worth approximately $7,685,000. 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.