Urban Outfitters (NASDAQ:URBN) Issues Earnings Results

Urban Outfitters (NASDAQ:URBN) released its earnings results on Wednesday. The apparel retailer reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.18, Zacks reports. Urban Outfitters had a net margin of 7.54% and a return on equity of 18.96%.

Urban Outfitters Trading Up 4.1%

NASDAQ URBN traded up $2.79 during mid-day trading on Wednesday, hitting $71.67. The company’s stock had a trading volume of 2,589,757 shares, compared to its average volume of 1,581,101. The company’s 50 day simple moving average is $67.36 and its 200 day simple moving average is $69.91. Urban Outfitters has a twelve month low of $59.15 and a twelve month high of $84.35. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.34 and a beta of 1.23.

Insider Buying and Selling at Urban Outfitters

In related news, CEO Richard A. Hayne sold 10,667 shares of Urban Outfitters stock in a transaction on Friday, February 20th. The shares were sold at an average price of $70.50, for a total value of $752,023.50. Following the completion of the sale, the chief executive officer owned 17,449,385 shares of the company’s stock, valued at approximately $1,230,181,642.50. This trade represents a 0.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Margaret Hayne sold 9,333 shares of Urban Outfitters stock in a transaction on Friday, February 20th. The stock was sold at an average price of $70.50, for a total transaction of $657,976.50. Following the transaction, the insider directly owned 1,933,859 shares in the company, valued at $136,337,059.50. This represents a 0.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 24,682 shares of company stock valued at $1,738,208. 32.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Urban Outfitters

Hedge funds have recently bought and sold shares of the company. Brown Brothers Harriman & Co. boosted its holdings in Urban Outfitters by 815.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer’s stock worth $28,000 after acquiring an additional 326 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Urban Outfitters during the 4th quarter worth $33,000. Transamerica Financial Advisors LLC boosted its holdings in Urban Outfitters by 566.7% during the 4th quarter. Transamerica Financial Advisors LLC now owns 440 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 374 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Urban Outfitters by 125.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 493 shares of the apparel retailer’s stock worth $36,000 after acquiring an additional 274 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Urban Outfitters by 282.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 600 shares of the apparel retailer’s stock worth $44,000 after acquiring an additional 443 shares during the last quarter. 77.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on URBN. Wells Fargo & Company reduced their price objective on shares of Urban Outfitters from $80.00 to $75.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. JPMorgan Chase & Co. reduced their price objective on shares of Urban Outfitters from $96.00 to $94.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. Wall Street Zen downgraded shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $98.00 price objective on shares of Urban Outfitters in a research report on Thursday, February 26th. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $86.25.

Urban Outfitters Company Profile

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city’s historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.