Urban Outfitters (NASDAQ:URBN) Price Target Raised to $40.00 at Morgan Stanley

Urban Outfitters (NASDAQ:URBN) had its price target upped by research analysts at Morgan Stanley from $39.00 to $40.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the apparel retailer’s stock. Morgan Stanley’s price objective would suggest a potential upside of 1.11% from the stock’s previous close.

A number of other research firms have also recently issued reports on URBN. Barclays raised their price target on shares of Urban Outfitters from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday. Robert W. Baird raised their price target on shares of Urban Outfitters from $48.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday. Telsey Advisory Group raised their price target on shares of Urban Outfitters from $48.00 to $49.00 and gave the stock an “outperform” rating in a report on Wednesday. StockNews.com raised shares of Urban Outfitters from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Jefferies Financial Group raised their price target on shares of Urban Outfitters from $32.00 to $35.00 and gave the stock an “underperform” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Urban Outfitters has an average rating of “Hold” and a consensus price target of $41.67.

Urban Outfitters Stock Performance

NASDAQ:URBN traded up $0.14 during midday trading on Thursday, reaching $39.56. 754,597 shares of the stock traded hands, compared to its average volume of 1,733,365. Urban Outfitters has a 12-month low of $29.77 and a 12-month high of $47.29. The business has a 50-day moving average of $40.79 and a two-hundred day moving average of $39.26. The stock has a market capitalization of $3.69 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 0.94 and a beta of 1.55.

Urban Outfitters (NASDAQ:URBN) last posted its earnings results on Tuesday, May 21st. The apparel retailer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.20. Urban Outfitters had a net margin of 5.66% and a return on equity of 15.59%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the company posted $0.56 earnings per share. Urban Outfitters’s revenue for the quarter was up 8.1% compared to the same quarter last year. Research analysts anticipate that Urban Outfitters will post 3.53 earnings per share for the current year.

Insider Transactions at Urban Outfitters

In other news, CFO Melanie Marein-Efron sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $40.72, for a total value of $244,320.00. Following the transaction, the chief financial officer now directly owns 908 shares of the company’s stock, valued at $36,973.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Urban Outfitters news, insider Azeez Hayne sold 2,878 shares of Urban Outfitters stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $40.75, for a total transaction of $117,278.50. Following the transaction, the insider now directly owns 2,878 shares of the company’s stock, valued at $117,278.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Melanie Marein-Efron sold 6,000 shares of Urban Outfitters stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $40.72, for a total transaction of $244,320.00. Following the transaction, the chief financial officer now directly owns 908 shares in the company, valued at $36,973.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,473 shares of company stock valued at $757,483. Corporate insiders own 31.80% of the company’s stock.

Hedge Funds Weigh In On Urban Outfitters

A number of institutional investors have recently bought and sold shares of URBN. Parallel Advisors LLC raised its stake in shares of Urban Outfitters by 89.7% in the 4th quarter. Parallel Advisors LLC now owns 882 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 417 shares during the period. Oliver Luxxe Assets LLC grew its holdings in Urban Outfitters by 3.3% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 15,900 shares of the apparel retailer’s stock worth $520,000 after acquiring an additional 514 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Urban Outfitters by 1.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 32,863 shares of the apparel retailer’s stock worth $1,427,000 after acquiring an additional 603 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Urban Outfitters by 5.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 11,713 shares of the apparel retailer’s stock worth $418,000 after buying an additional 621 shares during the last quarter. Finally, Texas Permanent School Fund Corp lifted its position in shares of Urban Outfitters by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 49,534 shares of the apparel retailer’s stock worth $2,151,000 after buying an additional 646 shares during the last quarter. 77.61% of the stock is owned by hedge funds and other institutional investors.

Urban Outfitters Company Profile

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.