Morgan Stanley Boosts Urban Outfitters (URBN) Price Target to $40.00

Urban Outfitters (NASDAQ:URBN) had its price objective increased by equities researchers at Morgan Stanley from $33.00 to $40.00 in a research note issued to investors on Thursday. The brokerage currently has an “equal weight” rating on the apparel retailer’s stock. Morgan Stanley’s target price suggests a potential downside of 5.19% from the company’s previous close.

URBN has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their price objective on Urban Outfitters from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, April 10th. Telsey Advisory Group boosted their price objective on Urban Outfitters from $39.00 to $42.00 and gave the company a “market perform” rating in a research note on Wednesday. Loop Capital assumed coverage on Urban Outfitters in a research note on Thursday, March 8th. They set a “buy” rating and a $46.00 price objective for the company. SunTrust Banks reiterated a “buy” rating and set a $40.00 price objective on shares of Urban Outfitters in a research note on Friday, February 2nd. Finally, Buckingham Research set a $50.00 price objective on Urban Outfitters and gave the company a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $35.96.

Shares of Urban Outfitters opened at $42.19 on Thursday, Marketbeat Ratings reports. The company has a market cap of $4.43 billion, a P/E ratio of 25.26, a P/E/G ratio of 1.43 and a beta of 0.52. Urban Outfitters has a 12-month low of $16.19 and a 12-month high of $43.58.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings data on Tuesday, May 22nd. The apparel retailer reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.08. The company had revenue of $855.70 million during the quarter, compared to the consensus estimate of $837.79 million. Urban Outfitters had a return on equity of 16.13% and a net margin of 3.71%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 EPS. research analysts predict that Urban Outfitters will post 2.38 earnings per share for the current year.

In other news, COO Calvin Hollinger sold 17,397 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $35.25, for a total transaction of $613,244.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Azeez Hayne sold 800 shares of the company’s stock in a transaction that occurred on Monday, April 9th. The stock was sold at an average price of $39.01, for a total value of $31,208.00. The disclosure for this sale can be found here. Insiders have sold a total of 390,295 shares of company stock worth $14,551,402 over the last ninety days. Insiders own 25.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Allianz Asset Management GmbH purchased a new stake in shares of Urban Outfitters during the 1st quarter worth approximately $265,000. Xact Kapitalforvaltning AB raised its holdings in shares of Urban Outfitters by 49.0% during the 1st quarter. Xact Kapitalforvaltning AB now owns 11,553 shares of the apparel retailer’s stock worth $427,000 after acquiring an additional 3,800 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its holdings in shares of Urban Outfitters by 183.4% during the 1st quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 59,800 shares of the apparel retailer’s stock worth $2,210,000 after acquiring an additional 38,700 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Urban Outfitters by 113.9% during the 1st quarter. Millennium Management LLC now owns 1,042,420 shares of the apparel retailer’s stock worth $38,528,000 after acquiring an additional 555,116 shares in the last quarter. Finally, Scopus Asset Management L.P. purchased a new stake in Urban Outfitters during the 1st quarter valued at $15,481,000. 71.19% of the stock is currently owned by institutional investors and hedge funds.

Urban Outfitters Company Profile

Urban Outfitters, Inc, a lifestyle products and services company, engages in the retail and wholesale of general consumer products. The company retails women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28 under the Urban Outfitters brand; and women's casual apparel and accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty products for women aged 28 to 45 under the Anthropologie brand.

Analyst Recommendations for Urban Outfitters (NASDAQ:URBN)

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