Urban Outfitters (NASDAQ:URBN) Upgraded by Baird R W to Strong-Buy Rating

Baird R W upgraded shares of Urban Outfitters (NASDAQ:URBN) from a hold rating to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

Several other research firms also recently weighed in on URBN. Glj Research reiterated a “sell” rating on shares of Urban Outfitters in a research note on Thursday, May 22nd. Wells Fargo & Company reiterated an “equal weight” rating on shares of Urban Outfitters in a research note on Thursday, May 22nd. Morgan Stanley lifted their target price on shares of Urban Outfitters from $62.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, May 22nd. Jefferies Financial Group upgraded shares of Urban Outfitters from an “underperform” rating to a “hold” rating and lifted their target price for the stock from $50.00 to $70.00 in a research note on Friday, June 6th. Finally, Robert W. Baird upgraded shares of Urban Outfitters from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $75.00 to $90.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.09.

Urban Outfitters Stock Performance

Shares of URBN stock opened at $69.23 on Wednesday. The firm has a market cap of $6.41 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 1.02 and a beta of 1.45. Urban Outfitters has a 52 week low of $33.86 and a 52 week high of $75.80. The firm’s 50-day simple moving average is $58.14 and its two-hundred day simple moving average is $55.25.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings data on Wednesday, May 21st. The apparel retailer reported $1.16 EPS for the quarter, topping the consensus estimate of $0.81 by $0.35. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.29 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 earnings per share. Analysts forecast that Urban Outfitters will post 3.91 earnings per share for the current year.

Insider Activity at Urban Outfitters

In other Urban Outfitters news, insider Margaret Hayne sold 80,000 shares of Urban Outfitters stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $72.59, for a total transaction of $5,807,200.00. Following the completion of the sale, the insider now directly owns 100 shares in the company, valued at $7,259. The trade was a 99.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tricia D. Smith sold 4,500 shares of Urban Outfitters stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $70.52, for a total transaction of $317,340.00. Following the sale, the chief executive officer now owns 13,477 shares of the company’s stock, valued at approximately $950,398.04. The trade was a 25.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 159,156 shares of company stock valued at $11,636,158. Corporate insiders own 31.60% of the company’s stock.

Institutional Investors Weigh In On Urban Outfitters

Several hedge funds have recently bought and sold shares of URBN. Allspring Global Investments Holdings LLC lifted its position in Urban Outfitters by 1,016.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 131,606 shares of the apparel retailer’s stock valued at $7,223,000 after purchasing an additional 119,820 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in Urban Outfitters by 38.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 1,699 shares of the apparel retailer’s stock valued at $95,000 after purchasing an additional 470 shares during the last quarter. Principal Financial Group Inc. lifted its position in Urban Outfitters by 3.7% during the fourth quarter. Principal Financial Group Inc. now owns 343,259 shares of the apparel retailer’s stock valued at $18,838,000 after purchasing an additional 12,184 shares during the last quarter. CIBC Asset Management Inc bought a new stake in Urban Outfitters during the fourth quarter valued at approximately $270,000. Finally, New York State Common Retirement Fund lifted its position in Urban Outfitters by 45.2% during the fourth quarter. New York State Common Retirement Fund now owns 28,804 shares of the apparel retailer’s stock valued at $1,581,000 after purchasing an additional 8,966 shares during the last quarter. 77.61% of the stock is currently owned by institutional investors.

Urban Outfitters Company Profile

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