Urban Outfitters (NASDAQ:URBN) Issues Earnings Results

Urban Outfitters (NASDAQ:URBN) issued its quarterly earnings results on Tuesday. The apparel retailer reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.09, RTT News reports. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.48 billion. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.43%. The company’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 earned $1.10 earnings per share.

Urban Outfitters Trading Up 13.5%

Shares of URBN stock opened at $77.56 on Thursday. Urban Outfitters has a 12-month low of $41.89 and a 12-month high of $80.71. The stock’s 50-day moving average price is $67.38 and its 200-day moving average price is $70.13. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 1.04 and a beta of 1.28.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wall Street Zen downgraded shares of Urban Outfitters from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Morgan Stanley increased their price target on Urban Outfitters from $85.00 to $91.00 and gave the stock an “overweight” rating in a research note on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of Urban Outfitters in a research report on Wednesday, October 8th. Barclays upped their price objective on Urban Outfitters from $89.00 to $98.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Telsey Advisory Group lifted their target price on Urban Outfitters from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Urban Outfitters presently has an average rating of “Moderate Buy” and an average price target of $85.36.

Insider Activity at Urban Outfitters

In other news, CEO Richard A. Hayne sold 10,667 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $70.46, for a total transaction of $751,596.82. Following the sale, the chief executive officer directly owned 18,027,939 shares of the company’s stock, valued at $1,270,248,581.94. This represents a 0.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Egan sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the director owned 14,250 shares of the company’s stock, valued at $999,210. This represents a 6.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 44,400 shares of company stock valued at $3,118,738. Insiders own 31.60% of the company’s stock.

Institutional Investors Weigh In On Urban Outfitters

A number of hedge funds have recently bought and sold shares of the business. CIBC Bancorp USA Inc. bought a new position in Urban Outfitters during the third quarter valued at $466,000. Danske Bank A S bought a new stake in shares of Urban Outfitters in the 3rd quarter worth about $4,032,000. Oberweis Asset Management Inc. raised its position in shares of Urban Outfitters by 10.5% during the 3rd quarter. Oberweis Asset Management Inc. now owns 234,300 shares of the apparel retailer’s stock valued at $16,736,000 after buying an additional 22,200 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Urban Outfitters by 8.9% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 66,591 shares of the apparel retailer’s stock valued at $4,809,000 after buying an additional 5,467 shares in the last quarter. Finally, Williamson Legacy Group LLC bought a new position in shares of Urban Outfitters in the 3rd quarter valued at about $495,000. Hedge funds and other institutional investors own 77.61% of the company’s stock.

About Urban Outfitters

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.