Urban Outfitters (NASDAQ:URBN) Price Target Raised to $33.00 at Wedbush

Urban Outfitters (NASDAQ:URBN) had its price target upped by Wedbush from $20.00 to $33.00 in a research note released on Tuesday, The Fly reports. The firm currently has a neutral rating on the apparel retailer’s stock. Wedbush also issued estimates for Urban Outfitters’ Q3 2020 earnings at $0.61 EPS, Q4 2020 earnings at $0.87 EPS, FY2020 earnings at $2.39 EPS, FY2021 earnings at $2.65 EPS and FY2022 earnings at $3.41 EPS.

Several other research firms have also issued reports on URBN. Deutsche Bank reduced their price target on Urban Outfitters from $29.00 to $28.00 and set a hold rating on the stock in a research report on Friday, August 16th. Loop Capital set a $35.00 price target on Urban Outfitters and gave the stock a buy rating in a research report on Friday, September 13th. KeyCorp restated a hold rating on shares of Urban Outfitters in a research report on Wednesday, August 21st. Bank of America restated a buy rating and set a $28.00 price target (down from $33.00) on shares of Urban Outfitters in a research report on Wednesday, August 21st. Finally, B. Riley set a $23.00 price target on Urban Outfitters and gave the stock a hold rating in a research report on Wednesday, August 21st. Thirteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $30.44.

URBN traded up $0.33 during trading on Tuesday, reaching $31.06. 2,197,600 shares of the company were exchanged, compared to its average volume of 2,125,436. The company’s 50-day moving average is $28.44 and its two-hundred day moving average is $25.13. The company has a quick ratio of 0.89, a current ratio of 1.60 and a debt-to-equity ratio of 0.80. Urban Outfitters has a 12-month low of $19.63 and a 12-month high of $39.54. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 11.29, a P/E/G ratio of 1.31 and a beta of 0.77.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Tuesday, August 20th. The apparel retailer reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.03. Urban Outfitters had a return on equity of 18.10% and a net margin of 6.54%. The business had revenue of $962.30 million for the quarter, compared to analyst estimates of $981.40 million. During the same period last year, the company earned $0.84 EPS. Urban Outfitters’s revenue for the quarter was down 3.0% compared to the same quarter last year. Equities analysts forecast that Urban Outfitters will post 2.29 earnings per share for the current year.

Several hedge funds have recently modified their holdings of URBN. Massachusetts Financial Services Co. MA grew its position in shares of Urban Outfitters by 73.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,670,448 shares of the apparel retailer’s stock worth $75,013,000 after buying an additional 1,127,172 shares during the last quarter. Investment Counselors of Maryland LLC bought a new stake in shares of Urban Outfitters during the second quarter valued at approximately $20,258,000. Victory Capital Management Inc. bought a new stake in shares of Urban Outfitters during the second quarter valued at approximately $16,450,000. Morgan Stanley boosted its position in shares of Urban Outfitters by 121.7% during the second quarter. Morgan Stanley now owns 921,845 shares of the apparel retailer’s stock valued at $20,971,000 after purchasing an additional 505,998 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Urban Outfitters during the second quarter valued at approximately $10,986,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

About Urban Outfitters

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates in two segments, Retail and wholesale. 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 casual apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.

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