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

Urban Outfitters, Inc. (NASDAQ:URBN)’s share price rose 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 (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.09. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.48 billion. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.43%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 EPS.

Analyst Ratings Changes

URBN has been the topic of a number of recent analyst reports. Barclays lifted their price objective on Urban Outfitters from $89.00 to $98.00 and gave the company an “overweight” rating in a research report on Wednesday. Wells Fargo & Company increased their price target on shares of Urban Outfitters from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday. Zacks Research cut shares of Urban Outfitters from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. Citigroup upped their price objective on Urban Outfitters from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Urban Outfitters in a research report on Wednesday, October 8th. One investment 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.36.

Insider Transactions at Urban Outfitters

In related news, Director Mary Egan sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $70.12, for a total value of $70,120.00. Following the completion of the transaction, the director directly owned 14,250 shares of the company’s stock, valued at approximately $999,210. This represents a 6.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tricia D. Smith sold 3,400 shares of the stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $69.77, for a total value of $237,218.00. Following the transaction, the chief executive officer owned 10,077 shares of the company’s stock, valued at approximately $703,072.29. This trade represents a 25.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 44,400 shares of company stock valued at $3,118,738 over the last quarter. Corporate insiders own 31.60% of the company’s stock.

Institutional Investors Weigh In On Urban Outfitters

Several large investors have recently made changes to their positions in URBN. Root Financial Partners LLC acquired a new stake in Urban Outfitters in the 3rd quarter valued at about $25,000. Hollencrest Capital Management bought a new position in shares of Urban Outfitters during the 2nd quarter worth approximately $26,000. Global Retirement Partners LLC increased its holdings in shares of Urban Outfitters by 158.4% during the 3rd quarter. Global Retirement Partners LLC now owns 460 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 282 shares during the last quarter. Cullen Frost Bankers Inc. lifted its holdings in Urban Outfitters by 180.2% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 468 shares of the apparel retailer’s stock valued at $34,000 after purchasing an additional 301 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in 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 period. Institutional investors and hedge funds own 77.61% of the company’s stock.

Urban Outfitters Price Performance

The company has a market cap of $6.96 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 1.04 and a beta of 1.28. The firm has a 50-day moving average price of $67.38 and a 200 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.