Urban Outfitters (NASDAQ:URBN) Shares Gap Up After Strong Earnings

Urban Outfitters, Inc. (NASDAQ:URBN) gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $52.92, but opened at $55.75. Urban Outfitters shares last traded at $55.85, with a volume of 536,396 shares traded.

The apparel retailer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.15. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on URBN. UBS Group increased their price target on shares of Urban Outfitters from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Robert W. Baird increased their price objective on Urban Outfitters from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday. StockNews.com downgraded Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Barclays upped their price target on Urban Outfitters from $51.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Telsey Advisory Group raised their price objective on Urban Outfitters from $56.00 to $59.00 and gave the stock a “market perform” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Urban Outfitters presently has an average rating of “Hold” and an average target price of $55.55.

Insider Activity at Urban Outfitters

In other news, Director Harry S. Cherken, Jr. sold 15,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $50.50, for a total transaction of $757,500.00. Following the sale, the director now owns 495,296 shares of the company’s stock, valued at approximately $25,012,448. This represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in URBN. Jones Financial Companies Lllp lifted its holdings in Urban Outfitters by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 525 shares of the apparel retailer’s stock worth $29,000 after buying an additional 200 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Urban Outfitters by 36.3% during the fourth quarter. GAMMA Investing LLC now owns 759 shares of the apparel retailer’s stock worth $42,000 after acquiring an additional 202 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of Urban Outfitters by 10.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,664 shares of the apparel retailer’s stock valued at $146,000 after acquiring an additional 250 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Urban Outfitters by 1.7% in the fourth quarter. Natixis Advisors LLC now owns 15,434 shares of the apparel retailer’s stock valued at $847,000 after purchasing an additional 252 shares during the period. Finally, Quarry LP grew its stake in Urban Outfitters by 32.3% during the 3rd quarter. Quarry LP now owns 1,222 shares of the apparel retailer’s stock worth $47,000 after purchasing an additional 298 shares in the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.

Urban Outfitters Trading Up 8.2 %

The company has a market cap of $5.28 billion, a PE ratio of 16.40, a P/E/G ratio of 1.02 and a beta of 1.54. The company has a fifty day simple moving average of $55.85 and a two-hundred day simple moving average of $45.42.

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.