Urban Outfitters (NASDAQ:URBN) Price Target Raised to $60.00

Urban Outfitters (NASDAQ:URBN) had its price target boosted by equities research analysts at Wells Fargo & Company from $48.00 to $60.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the apparel retailer’s stock. Wells Fargo & Company‘s target price points to a potential upside of 5.08% from the company’s previous close.

Several other analysts have also recently commented on URBN. JPMorgan Chase & Co. boosted their price target on shares of Urban Outfitters from $46.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday. Citigroup upgraded Urban Outfitters from a “neutral” rating to a “buy” rating and boosted their target price for the company from $42.00 to $59.00 in a research report on Wednesday, November 27th. Telsey Advisory Group boosted their price target on Urban Outfitters from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Morgan Stanley raised their price objective on Urban Outfitters from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Finally, Barclays upped their price objective on shares of Urban Outfitters from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Urban Outfitters currently has an average rating of “Hold” and a consensus target price of $48.27.

Urban Outfitters Stock Up 0.7 %

NASDAQ:URBN opened at $57.10 on Friday. The stock has a market cap 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 business’s 50-day simple moving average is $47.86 and its two-hundred day simple moving average is $42.56. Urban Outfitters has a 52 week low of $33.86 and a 52 week high of $59.05.

Urban Outfitters (NASDAQ:URBN) last issued its earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.25. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The company 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 company earned $0.88 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. Sell-side analysts anticipate that Urban Outfitters will post 3.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Urban Outfitters

Several hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. raised its holdings in Urban Outfitters by 138.8% in 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 during the last quarter. Quarry LP grew its position in shares of Urban Outfitters by 1,825.0% in 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 in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Urban Outfitters in the second quarter valued at approximately $42,000. GAMMA Investing LLC lifted its position in Urban Outfitters by 36.3% during the fourth quarter. GAMMA Investing LLC now owns 759 shares of the apparel retailer’s stock worth $42,000 after buying an additional 202 shares in the last quarter. Finally, Asset Management One Co. Ltd. purchased a new position in Urban Outfitters during the third quarter worth approximately $47,000. 77.61% of the stock is owned by hedge funds and other institutional investors.

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.