Brokerages Set Urban Outfitters, Inc. (NASDAQ:URBN) Target Price at $90.64

Urban Outfitters, Inc. (NASDAQ:URBN) has been given an average recommendation of “Moderate Buy” by the fifteen research firms that are covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $89.75.

Several equities analysts have recently weighed in on the company. Jefferies Financial Group increased their price target on Urban Outfitters from $72.00 to $79.00 and gave the company a “hold” rating in a report on Wednesday, August 12th. Wall Street Zen lowered Urban Outfitters from a “buy” rating to a “hold” rating in a report on Monday, August 31st. BMO Capital Markets set a $80.00 price objective on Urban Outfitters in a research report on Tuesday. Morgan Stanley reissued an “overweight” rating and issued a $90.00 target price on shares of Urban Outfitters in a report on Thursday, August 27th. Finally, Barclays increased their target price on Urban Outfitters from $100.00 to $102.00 and gave the company an “overweight” rating in a report on Thursday, August 27th.

Urban Outfitters Stock Down 1.9%

URBN opened at $79.43 on Friday. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.27 and a beta of 1.26. The firm has a 50 day moving average price of $75.19 and a 200-day moving average price of $71.33. Urban Outfitters has a twelve month low of $59.53 and a twelve month high of $85.43.

Urban Outfitters (NASDAQ:URBN) last issued its earnings results on Wednesday, August 26th. The apparel retailer reported $1.72 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.72. Urban Outfitters had a net margin of 8.79% and a return on equity of 18.64%. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the company posted $1.58 earnings per share. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, analysts expect that Urban Outfitters will post 6.16 earnings per share for the current year.

Insider Activity at Urban Outfitters

In other news, CFO Melanie Marein-Efron sold 5,700 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $80.75, for a total value of $460,275.00. Following the transaction, the chief financial officer owned 11,323 shares in the company, valued at $914,332.25. This represents a 33.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 32.10% of the stock is owned by insiders.

Institutional Trading of Urban Outfitters

Several large investors have recently added to or reduced their stakes in URBN. BlackRock Inc. purchased a new position in Urban Outfitters during the second quarter valued at $615,160,000. California State Teachers Retirement System increased its position in Urban Outfitters by 6,498.9% in the second quarter. California State Teachers Retirement System now owns 4,540,851 shares of the apparel retailer’s stock worth $321,765,000 after buying an additional 4,472,039 shares in the last quarter. Abrams Bison Investments LLC bought a new position in shares of Urban Outfitters in the fourth quarter worth about $127,114,000. Balyasny Asset Management L.P. raised its stake in shares of Urban Outfitters by 5,360.2% in the third quarter. Balyasny Asset Management L.P. now owns 618,152 shares of the apparel retailer’s stock worth $44,155,000 after buying an additional 606,831 shares during the period. Finally, Norges Bank purchased a new position in shares of Urban Outfitters during the 4th quarter valued at about $44,191,000. 77.61% of the stock is currently owned by institutional investors.

About Urban Outfitters

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city’s historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.