Urban Outfitters (NASDAQ:URBN) Stock Price Up 7.3% on Earnings Beat

Shares of Urban Outfitters, Inc. (NASDAQ:URBN) were up 7.3% during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $66.47 and last traded at $66.7880. Approximately 1,467,023 shares changed hands during trading, a decline of 29% from the average daily volume of 2,076,150 shares. The stock had previously closed at $62.22.

The apparel retailer reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.09. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.43%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm posted $1.10 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on URBN shares. UBS Group lifted their target price on shares of Urban Outfitters from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday. Citigroup raised their price objective on shares of Urban Outfitters from $76.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday. Barclays increased their price target on shares of Urban Outfitters from $89.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday. Wall Street Zen lowered Urban Outfitters from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. increased their target price on Urban Outfitters from $89.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.36.

Insider Buying and Selling at Urban Outfitters

In related news, Director Mary Egan sold 1,000 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $70.12, for a total transaction of $70,120.00. Following the transaction, the director owned 14,250 shares of the company’s stock, valued at approximately $999,210. This represents a 6.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard A. Hayne sold 9,333 shares of Urban Outfitters stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $70.11, for a total value of $654,336.63. Following the completion of the transaction, the chief executive officer directly owned 2,430,722 shares of the company’s stock, valued at approximately $170,417,919.42. This represents a 0.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 44,400 shares of company stock worth $3,118,738 over the last three months. Insiders own 31.60% of the company’s stock.

Institutional Trading of Urban Outfitters

A number of institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. raised its position in shares of Urban Outfitters by 12.4% during the 1st quarter. Victory Capital Management Inc. now owns 16,258 shares of the apparel retailer’s stock worth $852,000 after acquiring an additional 1,796 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Urban Outfitters in the 1st quarter valued at $2,979,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Urban Outfitters by 21.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,912 shares of the apparel retailer’s stock worth $939,000 after acquiring an additional 3,191 shares in the last quarter. Picton Mahoney Asset Management lifted its position in Urban Outfitters by 22,659.4% in the first quarter. Picton Mahoney Asset Management now owns 7,283 shares of the apparel retailer’s stock valued at $382,000 after acquiring an additional 7,251 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Urban Outfitters by 17,175.0% during the first quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer’s stock worth $36,000 after purchasing an additional 687 shares during the last quarter. 77.61% of the stock is owned by hedge funds and other institutional investors.

Urban Outfitters Trading Up 13.5%

The firm has a market capitalization of $6.96 billion, a PE ratio of 15.15, a P/E/G ratio of 1.04 and a beta of 1.28. The company has a fifty day moving average price of $67.38 and a two-hundred day moving average price of $70.13.

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.