Royal Bank Of Canada Boosts Urban Outfitters (URBN) Price Target to $30.00

Urban Outfitters (NASDAQ:URBN) had its price target raised by Royal Bank Of Canada from $21.00 to $30.00 in a report released on Tuesday, November 21st, Marketbeat.com reports. Royal Bank Of Canada currently has a sector perform rating on the apparel retailer’s stock.

Other analysts have also recently issued research reports about the company. J P Morgan Chase & Co raised Urban Outfitters from a neutral rating to an overweight rating in a report on Tuesday, November 21st. Wolfe Research raised Urban Outfitters from a peer perform rating to an outperform rating and set a $30.00 price objective for the company in a report on Wednesday, November 15th. Deutsche Bank cut Urban Outfitters from a hold rating to a sell rating and dropped their price objective for the stock from $23.00 to $19.00 in a research note on Tuesday, October 3rd. Telsey Advisory Group increased their price objective on Urban Outfitters from $20.00 to $22.00 and gave the company a market perform rating in a report on Wednesday, August 16th. Finally, BMO Capital Markets set a $20.00 target price on Urban Outfitters and gave the company a hold rating in a research report on Monday, September 11th. Three research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $24.20.

Shares of Urban Outfitters (NASDAQ URBN) traded up $0.33 during trading hours on Tuesday, reaching $32.64. 3,428,619 shares of the company traded hands, compared to its average volume of 3,449,151. The company has a market cap of $3,570.00, a P/E ratio of 21.00, a PEG ratio of 1.80 and a beta of 0.73. Urban Outfitters has a 12-month low of $16.19 and a 12-month high of $35.55.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings data on Monday, November 20th. The apparel retailer reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.08. Urban Outfitters had a net margin of 4.81% and a return on equity of 13.34%. The business had revenue of $892.77 million during the quarter, compared to analysts’ expectations of $860.64 million. During the same period in the previous year, the company earned $0.40 earnings per share. Urban Outfitters’s revenue for the quarter was up 3.5% on a year-over-year basis. sell-side analysts expect that Urban Outfitters will post 1.55 EPS for the current fiscal year.

Urban Outfitters announced that its board has approved a stock buyback plan on Thursday, August 24th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the apparel retailer to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Several hedge funds have recently modified their holdings of URBN. Sun Life Financial INC purchased a new position in Urban Outfitters during the second quarter worth about $151,000. LS Investment Advisors LLC grew its position in shares of Urban Outfitters by 12.5% in the second quarter. LS Investment Advisors LLC now owns 9,488 shares of the apparel retailer’s stock valued at $176,000 after purchasing an additional 1,052 shares during the last quarter. Pacad Investment Ltd. acquired a new stake in shares of Urban Outfitters in the second quarter valued at approximately $191,000. BT Investment Management Ltd purchased a new position in shares of Urban Outfitters during the second quarter valued at approximately $196,000. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Urban Outfitters by 0.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 10,691 shares of the apparel retailer’s stock valued at $198,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 86.54% of the company’s stock.

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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.

Analyst Recommendations for Urban Outfitters (NASDAQ:URBN)

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