Urban Outfitters (NASDAQ:URBN) Hits New 12-Month High – Time to Buy?

Urban Outfitters, Inc. (NASDAQ:URBN) hit a new 52-week high on Thursday . The company traded as high as $56.48 and last traded at $56.35, with a volume of 270694 shares traded. The stock had previously closed at $54.88.

Wall Street Analyst Weigh In

URBN has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on Urban Outfitters from $40.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Barclays boosted their price objective on shares of Urban Outfitters from $43.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Citigroup upgraded shares of Urban Outfitters from a “neutral” rating to a “buy” rating and raised their target price for the company from $42.00 to $59.00 in a research note on Wednesday, November 27th. Telsey Advisory Group upped their price target on Urban Outfitters from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Finally, StockNews.com raised Urban Outfitters from a “hold” rating to a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Urban Outfitters presently has an average rating of “Hold” and a consensus price target of $46.27.

Urban Outfitters Stock Up 1.2 %

The firm has a market capitalization of $5.31 billion, a PE ratio of 16.49, a PEG ratio of 1.10 and a beta of 1.60. The stock has a 50-day moving average price of $46.19 and a 200 day moving average price of $42.22.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings data on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.25. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the business posted $0.88 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities analysts predict that Urban Outfitters, Inc. will post 3.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in URBN. State Street Corp lifted its stake in Urban Outfitters by 1.1% in the 3rd quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer’s stock worth $107,244,000 after purchasing an additional 31,100 shares in the last quarter. Marshall Wace LLP lifted its position in Urban Outfitters by 116.3% during the second quarter. Marshall Wace LLP now owns 2,288,817 shares of the apparel retailer’s stock worth $93,956,000 after buying an additional 1,230,771 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Urban Outfitters by 3.1% during the third quarter. Fisher Asset Management LLC now owns 2,073,416 shares of the apparel retailer’s stock worth $79,433,000 after buying an additional 62,019 shares during the last quarter. American Century Companies Inc. grew its holdings in Urban Outfitters by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 1,555,067 shares of the apparel retailer’s stock valued at $63,836,000 after buying an additional 264,708 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Urban Outfitters by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer’s stock worth $56,765,000 after acquiring an additional 18,249 shares during the last quarter. Hedge funds and other institutional investors own 77.61% of the company’s stock.

About Urban Outfitters

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.