Urban Outfitters (NASDAQ:URBN) Sets New 52-Week High – Here’s What Happened

Shares of Urban Outfitters, Inc. (NASDAQ:URBN) hit a new 52-week high on Tuesday. The stock traded as high as $85.48 and last traded at $85.5190, with a volume of 306,447 shares. The stock had previously closed at $82.69.

Analyst Ratings Changes

URBN has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research note on Monday, August 31st. Zacks Research cut Urban Outfitters from a “strong-buy” rating to a “hold” rating in a report on Friday, August 14th. Wells Fargo & Company boosted their price target on Urban Outfitters from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, August 27th. Citigroup restated a “neutral” rating on shares of Urban Outfitters in a report on Friday, August 28th. Finally, Weiss Ratings raised Urban Outfitters from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 22nd. Eight investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.75.

Urban Outfitters Stock Up 3.8%

The firm has a market cap of $7.53 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 1.33 and a beta of 1.24. The business’s 50 day moving average is $78.07 and its 200-day moving average is $73.74.

Urban Outfitters (NASDAQ:URBN) last released its earnings results on Thursday, August 27th. The apparel retailer reported $1.72 EPS for the quarter, hitting analysts’ consensus estimates of $1.72. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. Urban Outfitters had a return on equity of 18.64% and a net margin of 8.79%. Urban Outfitters’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.58 EPS. As a group, equities analysts predict that Urban Outfitters, Inc. will post 6.20 earnings per share for the current year.

Insider Buying and Selling at Urban Outfitters

In other news, CEO Tricia D. Smith sold 3,500 shares of Urban Outfitters stock in a transaction on Friday, September 18th. The stock was sold at an average price of $75.95, for a total transaction of $265,825.00. Following the transaction, the chief executive officer directly owned 30,112 shares in the company, valued at approximately $2,287,006.40. This trade represents a 10.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Melanie Marein-Efron sold 5,700 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $80.75, for a total value of $460,275.00. Following the sale, the chief financial officer directly owned 11,323 shares of the company’s stock, valued at approximately $914,332.25. This represents a 33.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 32.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of URBN. Assenagon Asset Management S.A. increased its holdings in Urban Outfitters by 574.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 90,151 shares of the apparel retailer’s stock worth $6,886,000 after acquiring an additional 76,780 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its stake in Urban Outfitters by 14.4% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 366,298 shares of the apparel retailer’s stock worth $27,978,000 after purchasing an additional 46,118 shares in the last quarter. GAMMA Investing LLC lifted its stake in Urban Outfitters by 10.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,262 shares of the apparel retailer’s stock worth $173,000 after purchasing an additional 213 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Urban Outfitters by 39.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,167 shares of the apparel retailer’s stock valued at $89,000 after purchasing an additional 331 shares during the period. Finally, Central Pacific Bank Trust Division boosted its holdings in Urban Outfitters by 15.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 2,410 shares of the apparel retailer’s stock valued at $184,000 after purchasing an additional 320 shares during the period. Institutional investors own 77.61% of the company’s stock.

Urban Outfitters Company Profile

Urban Outfitters, Inc is a lifestyle retail company that offers apparel, accessories, beauty products, home furnishings, and other lifestyle merchandise through stores and digital channels. Its brands target a range of customer groups and aesthetic preferences, from contemporary fashion and eclectic home goods to activewear and rental apparel.

The company’s portfolio includes Urban Outfitters, Anthropologie, Free People, FP Movement, Terrain, and Nuuly. Urban Outfitters focuses on fashion-forward apparel, accessories, and home products; Anthropologie offers women’s clothing, accessories, beauty products, and home furnishings; and Free People and FP Movement specialize in women’s apparel and activewear.