Urban Outfitters (NASDAQ:URBN) Shares Gap Up Following Strong Earnings

Urban Outfitters, Inc. (NASDAQ:URBN - Get Free Report)'s share price gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $52.92, but opened at $55.75. Urban Outfitters shares last traded at $55.85, with a volume of 536,396 shares trading hands.

The apparel retailer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.15. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on URBN. StockNews.com upgraded shares of Urban Outfitters from a "hold" rating to a "buy" rating in a research note on Saturday. Bank of America upped their target price on Urban Outfitters from $46.00 to $53.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. UBS Group lifted their price target on Urban Outfitters from $45.00 to $60.00 and gave the stock a "neutral" rating in a research report on Friday, January 10th. Citigroup upgraded Urban Outfitters from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $42.00 to $59.00 in a research note on Wednesday, November 27th. Finally, Telsey Advisory Group upped their target price on Urban Outfitters from $56.00 to $59.00 and gave the company a "market perform" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Urban Outfitters currently has a consensus rating of "Hold" and a consensus price target of $56.00.

Remove Ads

Insider Activity at Urban Outfitters

In other Urban Outfitters news, Director Harry S. Cherken, Jr. sold 15,000 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $50.50, for a total value of $757,500.00. Following the completion of the sale, the director now directly owns 495,296 shares in the company, valued at $25,012,448. This represents a 2.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 31.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Urban Outfitters

A number of hedge funds have recently modified their holdings of URBN. Mackenzie Financial Corp acquired a new position in Urban Outfitters in the 4th quarter valued at about $216,000. Public Employees Retirement System of Ohio lifted its holdings in Urban Outfitters by 1,778.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 34,588 shares of the apparel retailer's stock valued at $1,898,000 after acquiring an additional 32,747 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Urban Outfitters by 17.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 129,114 shares of the apparel retailer's stock worth $7,086,000 after acquiring an additional 19,551 shares during the period. Voloridge Investment Management LLC purchased a new stake in Urban Outfitters in the fourth quarter valued at $18,513,000. Finally, Two Sigma Investments LP lifted its stake in shares of Urban Outfitters by 50.3% in the 4th quarter. Two Sigma Investments LP now owns 21,302 shares of the apparel retailer's stock valued at $1,169,000 after purchasing an additional 7,133 shares during the last quarter. Hedge funds and other institutional investors own 77.61% of the company's stock.

Urban Outfitters Trading Up 1.2 %

The business has a fifty day moving average price of $55.91 and a two-hundred day moving average price of $45.62. The firm has a market capitalization of $5.43 billion, a PE ratio of 16.87, a PEG ratio of 1.02 and a beta of 1.54.

Urban Outfitters Company Profile

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.