Urban Outfitters (NASDAQ:URBN) Posts Earnings Results, Beats Expectations By $0.18 EPS

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

Urban Outfitters Stock Up 4.1%

URBN traded up $2.79 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. The firm has a market cap of $6.13 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 1.34 and a beta of 1.23. Urban Outfitters has a 12 month low of $59.15 and a 12 month high of $84.35.

Analyst Ratings Changes

URBN has been the topic of a number of recent analyst reports. Telsey Advisory Group reiterated an “outperform” rating and set a $98.00 target price on shares of Urban Outfitters in a research note on Thursday, February 26th. JPMorgan Chase & Co. lowered their target price on Urban Outfitters from $96.00 to $94.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th. Wells Fargo & Company lowered their target price on Urban Outfitters from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 26th. Finally, Wall Street Zen cut Urban Outfitters from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $86.25.

Insider Buying and Selling at Urban Outfitters

In other news, insider Margaret Hayne sold 9,333 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $70.50, for a total value of $657,976.50. Following the completion of the transaction, the insider directly owned 1,933,859 shares of the company’s stock, valued at $136,337,059.50. This trade represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 24,682 shares of company stock worth $1,738,208. Company insiders own 32.10% of the company’s stock.

Institutional Investors Weigh In On Urban Outfitters

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of Urban Outfitters by 8.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,975,316 shares of the apparel retailer’s stock valued at $299,183,000 after buying an additional 299,380 shares during the period. Abrams Bison Investments LLC bought a new stake in shares of Urban Outfitters during the fourth quarter valued at about $127,114,000. Arrowstreet Capital Limited Partnership increased its position in shares of Urban Outfitters by 9.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 791,676 shares of the apparel retailer’s stock valued at $59,582,000 after buying an additional 67,777 shares during the period. Balyasny Asset Management L.P. grew its holdings in shares of Urban Outfitters by 5,360.2% during the third quarter. Balyasny Asset Management L.P. now owns 618,152 shares of the apparel retailer’s stock worth $44,155,000 after purchasing an additional 606,831 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Urban Outfitters by 16.8% during the fourth quarter. Invesco Ltd. now owns 568,906 shares of the apparel retailer’s stock worth $42,816,000 after purchasing an additional 81,804 shares in the last quarter. 77.61% of the stock is currently owned by institutional investors.

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.