Zacks Research Upgrades Urban Outfitters (NASDAQ:URBN) to Strong-Buy

Urban Outfitters (NASDAQ:URBN) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Weiss Ratings raised shares of Urban Outfitters from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 26th. Morgan Stanley reissued an “overweight” rating and set a $89.00 target price on shares of Urban Outfitters in a research report on Monday. Jefferies Financial Group restated a “hold” rating and set a $72.00 target price on shares of Urban Outfitters in a report on Thursday, May 21st. Bank of America boosted their price target on Urban Outfitters from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Finally, JPMorgan Chase & Co. upped their price target on Urban Outfitters from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $87.00.

Urban Outfitters Price Performance

NASDAQ URBN opened at $68.02 on Tuesday. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 1.26 and a beta of 1.22. The company has a 50 day simple moving average of $71.85 and a 200-day simple moving average of $70.53. Urban Outfitters has a 52-week low of $59.53 and a 52-week high of $84.35.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings data on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.18. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 earnings per share. On average, analysts predict that Urban Outfitters will post 6.13 EPS for the current year.

Insiders Place Their Bets

In other news, insider Azeez Hayne sold 8,733 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $73.18, for a total transaction of $639,080.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Melanie Marein-Efron sold 5,036 shares of Urban Outfitters stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $73.42, for a total transaction of $369,743.12. Following the sale, the chief financial officer owned 17,023 shares in the company, valued at $1,249,828.66. This represents a 22.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 32.10% of the stock is owned by insiders.

Institutional Trading of Urban Outfitters

Several institutional investors have recently made changes to their positions in URBN. GAMMA Investing LLC raised its position in Urban Outfitters by 10.1% in the second quarter. GAMMA Investing LLC now owns 2,049 shares of the apparel retailer’s stock worth $145,000 after purchasing an additional 188 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Urban Outfitters during the second quarter worth about $148,000. Edgestream Partners L.P. boosted its holdings in Urban Outfitters by 31.3% during the first quarter. Edgestream Partners L.P. now owns 56,134 shares of the apparel retailer’s stock valued at $3,556,000 after purchasing an additional 13,383 shares in the last quarter. Kentucky Retirement Systems acquired a new stake in Urban Outfitters during the first quarter valued at approximately $570,000. Finally, South Dakota Investment Council bought a new stake in shares of Urban Outfitters in the 1st quarter valued at approximately $298,000. 77.61% of the stock is currently owned by institutional investors and hedge funds.

Urban Outfitters Company Profile

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.