Urban Outfitters (URBN) Reaches New 1-Year High and Low Following Analyst Upgrade

Urban Outfitters, Inc. (NASDAQ:URBN) shares reached a new 52-week high and low during trading on Tuesday after JPMorgan Chase raised their price target on the stock from $43.00 to $46.00. JPMorgan Chase currently has an overweight rating on the stock. Urban Outfitters traded as low as $39.96 and last traded at $39.45, with a volume of 660724 shares. The stock had previously closed at $39.61.

Several other analysts also recently weighed in on URBN. ValuEngine upgraded shares of Urban Outfitters from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Buckingham Research set a $42.00 price objective on shares of Urban Outfitters and gave the stock a “buy” rating in a research report on Thursday, March 8th. Loop Capital began coverage on shares of Urban Outfitters in a research report on Thursday, March 8th. They set a “buy” rating and a $46.00 price objective for the company. SunTrust Banks set a $42.00 price objective on shares of Urban Outfitters and gave the stock a “buy” rating in a research report on Tuesday, April 3rd. Finally, Telsey Advisory Group restated a “market perform” rating and set a $39.00 price objective (up previously from $38.00) on shares of Urban Outfitters in a research report on Wednesday, March 7th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $32.00.

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In related news, COO Calvin Hollinger sold 17,397 shares of the company’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $35.25, for a total value of $613,244.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Trish Donnelly sold 10,311 shares of the company’s stock in a transaction on Tuesday, April 10th. The shares were sold at an average price of $38.62, for a total transaction of $398,210.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 390,295 shares of company stock valued at $14,551,402. 25.90% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in URBN. Dimensional Fund Advisors LP increased its stake in Urban Outfitters by 32.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,252,727 shares of the apparel retailer’s stock valued at $101,640,000 after buying an additional 1,053,712 shares during the period. Two Sigma Investments LP increased its stake in Urban Outfitters by 338.9% in the 4th quarter. Two Sigma Investments LP now owns 1,357,287 shares of the apparel retailer’s stock valued at $47,586,000 after buying an additional 1,048,052 shares during the period. Two Sigma Advisers LP increased its stake in Urban Outfitters by 263.7% in the 4th quarter. Two Sigma Advisers LP now owns 1,137,687 shares of the apparel retailer’s stock valued at $39,887,000 after buying an additional 824,876 shares during the period. Millennium Management LLC acquired a new position in Urban Outfitters in the 4th quarter valued at $17,085,000. Finally, Shellback Capital LP acquired a new position in Urban Outfitters in the 4th quarter valued at $14,024,000. 76.50% of the stock is currently owned by institutional investors.

The company has a market capitalization of $4,226.16, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 1.43 and a beta of 0.54.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Tuesday, March 6th. The apparel retailer reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.06. Urban Outfitters had a net margin of 2.99% and a return on equity of 14.19%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the company posted $0.55 EPS. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. sell-side analysts forecast that Urban Outfitters, Inc. will post 2.27 EPS for the current fiscal year.

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About Urban Outfitters

Urban Outfitters, Inc is a lifestyle specialty retail company. The Company operates through two segments: Retail and Wholesale. The Company’s Retail segment consists of its Urban Outfitters, Anthropologie, Free People, Terrain and Bhldn brands, whose merchandise is sold to its customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.

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