Urban Outfitters (NASDAQ:URBN) Shares Gap Up - Time to Buy?

Urban Outfitters, Inc. (NASDAQ:URBN - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $55.01, but opened at $57.45. Urban Outfitters shares last traded at $58.87, with a volume of 238,946 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on URBN. Wells Fargo & Company raised their price objective on Urban Outfitters from $48.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Friday, January 10th. StockNews.com upgraded Urban Outfitters from a "hold" rating to a "buy" rating in a research note on Saturday. 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. JPMorgan Chase & Co. boosted their price target on Urban Outfitters from $46.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, January 8th. Finally, UBS Group upped their target price on Urban Outfitters from $45.00 to $60.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $53.64.

Urban Outfitters Trading Up 9.9 %

The business has a 50 day moving average of $50.86 and a 200-day moving average of $43.28. The stock has a market cap of $5.58 billion, a PE ratio of 17.32, a P/E/G ratio of 1.14 and a beta of 1.55.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.25. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 EPS. Research analysts expect that Urban Outfitters, Inc. will post 3.9 EPS for the current fiscal year.

Insider Buying and Selling at Urban Outfitters

In other news, Director Harry S. Cherken, Jr. sold 55,000 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $57.31, for a total value of $3,152,050.00. Following the completion of the sale, the director now directly owns 510,296 shares of the company's stock, valued at $29,245,063.76. This trade represents a 9.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 31.80% of the company's stock.

Hedge Funds Weigh In On Urban Outfitters

Several hedge funds and other institutional investors have recently bought and sold shares of URBN. Marshall Wace LLP increased 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. Cerity Partners LLC purchased a new stake in shares of Urban Outfitters in the third quarter valued at $8,340,000. Empowered Funds LLC purchased a new stake in shares of Urban Outfitters in the third quarter valued at $7,789,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Urban Outfitters in the second quarter valued at $7,238,000. Finally, Maverick Capital Ltd. purchased a new stake in shares of Urban Outfitters in the second quarter valued at $4,710,000. 77.61% of the stock is owned by institutional investors and hedge funds.

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.