Morgan Stanley cut their price target on Urban Outfitters (NASDAQ:URBN) to $38.00

Urban Outfitters (NASDAQ:URBN – Get a Free Report) Its price objective was decreased by stock analysts at Morgan Stanley from $40.00 to $38.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the apparel retailer’s stock. Morgan Stanley’s target price would indicate a potential downside of 8.39% from the company’s current price.

Several other research analysts have also recently commented on the stock. UBS Group raised their target price on shares of Urban Outfitters from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Jefferies Financial Group raised their target price on shares of Urban Outfitters from $32.00 to $35.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 22nd. StockNews.com downgraded shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Telsey Advisory Group downgraded shares of Urban Outfitters from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $49.00 to $44.00 in a research report from Thursday. Finally, Robert W. Baird upped their target price on shares of Urban Outfitters from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.90, according to MarketBeat.com.

Check out our latest report on URBN

Urban Outfitters stock performance

Shares of URBN stock opened at $41.48 on Thursday. The company has a market cap of $3.87 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 1.00 and a beta of 1.51. Urban Outfitters has a one year low of $30.05 and a one year high of $48.90. The company’s 50-day moving average price is $43.59, and its two-hundred-day moving average price is $42.19.

Urban Outfitters (NASDAQ:URBN – Get Free Report ) last posted its quarterly earnings results on Wednesday, August 21st. The apparel retailer reported $1.24 EPS for the quarter, topping the consensus estimate of $0.98 by $0.26. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. Urban Outfitters had a net margin of 5.66% and a return on equity of 15.36%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted earnings of $1.10 per share. On average, research analysts anticipate that Urban Outfitters will post 3.57 EPS for the current year.

Insiders place their bets

In other Urban Outfitters news, insider Azeez Hayne sold 13,967 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.78, for a total transaction of $583,541.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. In other Urban Outfitters news, insider Azeez Hayne sold 13,967 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.78, for a total transaction of $583,541.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Also, Director Harry S. Cherken, Jr. sold 5,000 shares of Urban Outfitters stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $48.30, for a total value of $241,500.00. Following the transaction, the director now directly owns 565,296 shares in the company, valued at $27,303,796.80. The disclosure for this sale can be found here. Insiders own 31.80% of the company’s shares.

Institutional inputs and outputs

Large investors have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its position in shares of Urban Outfitters by 89.7% in the 4th quarter. Parallel Advisors LLC now owns 882 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 417 shares during the last quarter. Quarry LP boosted its holdings in Urban Outfitters by 1,825.0% in the second quarter. Quarry LP now owns 924 shares of the apparel retailer’s stock worth $38,000 after buying an additional 876 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Urban Outfitters in the second quarter valued at about $42,000. Spire Wealth Management raised its holdings in Urban Outfitters by 3,700.0% in the 4th quarter. Spire Wealth Management now owns 1,140 shares of the apparel retailer’s stock worth $41,000 after acquiring an additional 1,110 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Urban Outfitters in the second quarter valued at approximately $48,000. 77.61% of the shares are held by hedge funds and other institutional investors.

About Urban Outfitters

(Get a free report)

Urban Outfitters, Inc. engages in the retail and wholesale of consumer products. The company operates through three segments: Retail, Wholesale and Nuuly. Offers Urban Outfitters stores that offer women’s and men’s fashion, activewear, intimates, footwear, accessories, home goods, electronics and beauty products for young adults ages 18-28; 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 ages 28-45.

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