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

Urban Outfitters, Inc. (NASDAQ:URBN)’s share price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. 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 trading hands.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Barclays raised their price objective on Urban Outfitters from $63.00 to $68.00 and gave the company an “overweight” rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on Urban Outfitters from $46.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Wells Fargo & Company raised their price objective on Urban Outfitters from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday. Telsey Advisory Group raised their price objective on Urban Outfitters from $56.00 to $59.00 and gave the company a “market perform” rating in a report on Thursday. Finally, Robert W. Baird lifted their price target on Urban Outfitters from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $56.00.

Insider Activity at Urban Outfitters

In related news, Director Harry S. Cherken, Jr. sold 15,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $50.50, for a total value of $757,500.00. Following the sale, the director now directly owns 495,296 shares in the company, valued at approximately $25,012,448. The trade was a 2.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 31.80% of the stock is owned by insiders.

Institutional Trading of Urban Outfitters

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in Urban Outfitters by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer’s stock valued at $56,765,000 after buying an additional 18,249 shares during the period. Algert Global LLC raised its holdings in Urban Outfitters by 36.0% in the 3rd quarter. Algert Global LLC now owns 53,715 shares of the apparel retailer’s stock valued at $2,058,000 after buying an additional 14,220 shares during the period. Petrus Trust Company LTA purchased a new stake in Urban Outfitters in the 3rd quarter valued at about $642,000. Friedenthal Financial purchased a new stake in Urban Outfitters in the 4th quarter valued at about $765,000. Finally, Fisher Asset Management LLC raised its holdings in Urban Outfitters by 3.1% in the 3rd quarter. Fisher Asset Management LLC now owns 2,073,416 shares of the apparel retailer’s stock valued at $79,433,000 after buying an additional 62,019 shares during the period. 77.61% of the stock is currently owned by hedge funds and other institutional investors.

Urban Outfitters Trading Up 1.6 %

The stock has a market capitalization of $5.37 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 1.02 and a beta of 1.54. The firm’s fifty day moving average is $55.91 and its 200-day moving average is $45.54.

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.