Zacks Investment Research upgraded shares of Urban Outfitters (NASDAQ:URBN) from a hold rating to a buy rating in a report issued on Friday morning. The firm currently has $36.00 target price on the apparel retailer’s stock.

According to Zacks, “Shares of Urban Outfitters, which have outperformed the industry in the past three months is likely to continue the bull run. We are upbeat on the company’s performance based on rise in sales during the holiday season. Its comparable retail segment net sales, including the comparable direct-to-consumer channel, gained 2%. Moreover, the company’s all three brands reported rise in comps for the November and December period. Further, new store openings, increase in direct penetration, growing wholesale operations and merchandising improvements bode well for the long term. Management is also making all possible efforts to enhance the performance of brands through store refurbishment and by bringing in more compelling assortments. However, management’s remark over gross margin, which is anticipated to decline year over year in the fourth quarter is a concern.”

Several other brokerages have also recently commented on URBN. Jefferies Group restated a buy rating and set a $40.00 target price on shares of Urban Outfitters in a report on Monday, December 18th. KeyCorp increased their target price on Urban Outfitters to $3.00 and gave the stock an overweight rating in a report on Tuesday, November 21st. BidaskClub cut Urban Outfitters from a strong-buy rating to a buy rating in a report on Saturday, January 6th. BMO Capital Markets increased their target price on Urban Outfitters from $20.00 to $28.00 and gave the stock a market perform rating in a report on Tuesday, November 21st. Finally, Robert W. Baird set a $39.00 price target on Urban Outfitters and gave the company a buy rating in a report on Friday, December 22nd. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating and twelve have given a buy rating to the company’s stock. Urban Outfitters has a consensus rating of Hold and a consensus target price of $26.10.

Shares of Urban Outfitters (NASDAQ URBN) opened at $34.64 on Friday. Urban Outfitters has a 1 year low of $16.19 and a 1 year high of $36.10. The firm has a market capitalization of $3,750.00, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 1.85 and a beta of 0.73.

Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Monday, November 20th. The apparel retailer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.33 by $0.08. The company had revenue of $892.77 million for the quarter, compared to analysts’ expectations of $860.64 million. Urban Outfitters had a return on equity of 13.34% and a net margin of 4.81%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. equities analysts expect that Urban Outfitters will post 1.56 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in URBN. California Public Employees Retirement System raised its position in shares of Urban Outfitters by 6.5% during the third quarter. California Public Employees Retirement System now owns 372,301 shares of the apparel retailer’s stock worth $8,898,000 after purchasing an additional 22,601 shares during the period. Vident Investment Advisory LLC raised its position in shares of Urban Outfitters by 78.5% during the third quarter. Vident Investment Advisory LLC now owns 137,358 shares of the apparel retailer’s stock worth $3,283,000 after purchasing an additional 60,392 shares during the period. Magnetar Financial LLC acquired a new stake in shares of Urban Outfitters during the third quarter worth about $373,000. Royce & Associates LP raised its position in shares of Urban Outfitters by 11.8% during the third quarter. Royce & Associates LP now owns 95,000 shares of the apparel retailer’s stock worth $2,271,000 after purchasing an additional 10,000 shares during the period. Finally, Senvest Management LLC acquired a new stake in shares of Urban Outfitters during the third quarter worth about $36,629,000. 86.24% of the stock is currently owned by hedge funds and other institutional investors.

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About Urban Outfitters

Urban Outfitters, Inc is a lifestyle specialty retail company. The Company operates through two segments: Retail and Wholesale. The Company’s Retail segment consists of its Urban Outfitters, Anthropologie, Free People, Terrain and Bhldn brands, whose merchandise is sold to its customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.

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