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

Urban Outfitters, Inc. (NASDAQ:URBN)’s share price 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. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%.

Analyst Ratings Changes

URBN has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on Urban Outfitters from $46.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Robert W. Baird boosted 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. Wells Fargo & Company boosted their price objective on Urban Outfitters from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday. Morgan Stanley raised Urban Outfitters from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $41.00 to $63.00 in a research report on Tuesday, January 21st. Finally, Telsey Advisory Group boosted 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 investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $56.00.

Insider Buying and Selling

In related news, Director Harry S. Cherken, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $50.50, for a total transaction of $757,500.00. Following the completion of the sale, the director now owns 495,296 shares in the company, valued at $25,012,448. The trade was a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 31.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Urban Outfitters

Several institutional investors have recently added to or reduced their stakes in URBN. State Street Corp lifted its stake in Urban Outfitters by 1.1% in the third quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer’s stock valued at $107,244,000 after buying an additional 31,100 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Urban Outfitters by 5.6% in the fourth quarter. Fisher Asset Management LLC now owns 2,188,806 shares of the apparel retailer’s stock valued at $120,122,000 after buying an additional 115,390 shares during the last quarter. American Century Companies Inc. lifted its stake in Urban Outfitters by 9.0% in the fourth quarter. American Century Companies Inc. now owns 2,089,155 shares of the apparel retailer’s stock valued at $114,653,000 after buying an additional 173,082 shares during the last quarter. Junto Capital Management LP lifted its stake in Urban Outfitters by 0.9% in the fourth quarter. Junto Capital Management LP now owns 1,483,646 shares of the apparel retailer’s stock valued at $81,422,000 after buying an additional 13,820 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Urban Outfitters by 1.2% in the third 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 last quarter. Hedge funds and other institutional investors own 77.61% of the company’s stock.

Urban Outfitters Price Performance

The stock has a 50 day simple moving average of $55.91 and a two-hundred day simple moving average of $45.54. The company has a market cap of $5.37 billion, a PE ratio of 16.67, a PEG ratio of 1.02 and a beta of 1.54.

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.