Urban Outfitters (NASDAQ:URBN) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Urban Outfitters (NASDAQ:URBN) from a hold rating to a buy rating in a research note released on Sunday morning.

URBN has been the subject of several other research reports. The Goldman Sachs Group raised shares of Urban Outfitters from a “neutral” rating to a “buy” rating and increased their price target for the company from $76.00 to $93.00 in a research note on Monday, July 20th. JPMorgan Chase & Co. lifted their price target on shares of Urban Outfitters from $97.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, August 18th. Bank of America upped their price objective on Urban Outfitters from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Jefferies Financial Group increased their price objective on Urban Outfitters from $72.00 to $79.00 and gave the stock a “hold” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings cut Urban Outfitters from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.73.

Urban Outfitters Stock Performance

Urban Outfitters stock opened at $74.24 on Friday. The company has a 50-day moving average price of $73.72 and a 200 day moving average price of $70.61. Urban Outfitters has a 12-month low of $59.53 and a 12-month high of $84.35. The stock has a market cap of $6.36 billion, a P/E ratio of 14.25, a PEG ratio of 1.37 and a beta of 1.23.

Institutional Trading of Urban Outfitters

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Urban Outfitters in the 2nd quarter valued at approximately $615,160,000. Dimensional Fund Advisors LP lifted its position in shares of Urban Outfitters by 8.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,313,938 shares of the apparel retailer’s stock worth $273,274,000 after purchasing an additional 338,622 shares during the last quarter. Abrams Bison Investments LLC purchased a new stake in Urban Outfitters during the 4th quarter worth about $127,114,000. Geode Capital Management LLC boosted its holdings in Urban Outfitters by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 1,507,027 shares of the apparel retailer’s stock valued at $113,434,000 after purchasing an additional 35,244 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its holdings in shares of Urban Outfitters by 33.8% in the 4th quarter. Jupiter Asset Management Ltd. now owns 1,297,452 shares of the apparel retailer’s stock valued at $97,646,000 after buying an additional 327,453 shares in the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.

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.