Urban Outfitters (NASDAQ:URBN) Stock Lifted to Moderate Buy by Needham & Company LLC

Needham & Company LLC upgraded shares of Urban Outfitters (NASDAQ:URBN) to a moderate buy rating in a research note released on Friday morning,Zacks reports.

Other research analysts have also issued research reports about the company. Barclays upped their price target on Urban Outfitters from $100.00 to $102.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. UBS Group lifted their price objective on Urban Outfitters from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, August 27th. Weiss Ratings raised Urban Outfitters from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 22nd. BMO Capital Markets began coverage on Urban Outfitters in a report on Tuesday, September 8th. They set a “market perform” rating and a $80.00 target price for the company. Finally, Wall Street Zen lowered Urban Outfitters from a “buy” rating to a “hold” rating in a research note on Monday, August 31st. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.54.

Urban Outfitters Stock Down 0.9%

Shares of NASDAQ:URBN traded down $0.83 during midday trading on Friday, hitting $86.57. 1,286,225 shares of the stock traded hands, compared to its average volume of 1,110,594. The stock has a market capitalization of $7.42 billion, a PE ratio of 13.51, a P/E/G ratio of 1.37 and a beta of 1.24. The business’s 50 day moving average is $78.46 and its two-hundred day moving average is $74.01. Urban Outfitters has a one year low of $59.53 and a one year high of $90.59.

Urban Outfitters (NASDAQ:URBN) last posted its earnings results on Thursday, August 27th. The apparel retailer reported $1.72 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.72. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. Urban Outfitters had a net margin of 8.79% and a return on equity of 18.64%. Urban Outfitters’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 earnings per share. As a group, sell-side analysts forecast that Urban Outfitters will post 6.20 earnings per share for the current year.

Insider Activity

In related news, Director Harry S. Cherken, Jr. sold 5,000 shares of Urban Outfitters stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $87.06, for a total transaction of $435,300.00. Following the sale, the director directly owned 494,315 shares in the company, valued at $43,035,063.90. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tricia Smith sold 3,500 shares of Urban Outfitters stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $75.95, for a total value of $265,825.00. Following the sale, the chief executive officer owned 30,112 shares in the company, valued at $2,287,006.40. This represents a 10.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,200 shares of company stock worth $1,161,400 in the last quarter. 32.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Urban Outfitters

Institutional investors and hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its position in Urban Outfitters by 574.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 90,151 shares of the apparel retailer’s stock valued at $6,886,000 after buying an additional 76,780 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Urban Outfitters by 14.4% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 366,298 shares of the apparel retailer’s stock worth $27,978,000 after buying an additional 46,118 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Urban Outfitters by 10.4% in the third quarter. GAMMA Investing LLC now owns 2,262 shares of the apparel retailer’s stock worth $173,000 after buying an additional 213 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Urban Outfitters by 39.6% during the third quarter. Farther Finance Advisors LLC now owns 1,167 shares of the apparel retailer’s stock valued at $89,000 after buying an additional 331 shares during the last quarter. Finally, Central Pacific Bank Trust Division grew its holdings in shares of Urban Outfitters by 15.3% during the third quarter. Central Pacific Bank Trust Division now owns 2,410 shares of the apparel retailer’s stock valued at $184,000 after buying an additional 320 shares during the last quarter. Institutional investors own 77.61% of the company’s stock.

Urban Outfitters Company Profile

Urban Outfitters, Inc is a lifestyle retail company that offers apparel, accessories, beauty products, home furnishings, and other lifestyle merchandise through stores and digital channels. Its brands target a range of customer groups and aesthetic preferences, from contemporary fashion and eclectic home goods to activewear and rental apparel.

The company’s portfolio includes Urban Outfitters, Anthropologie, Free People, FP Movement, Terrain, and Nuuly. Urban Outfitters focuses on fashion-forward apparel, accessories, and home products; Anthropologie offers women’s clothing, accessories, beauty products, and home furnishings; and Free People and FP Movement specialize in women’s apparel and activewear.