Urban Outfitters, Inc. (NASDAQ:URBN) – KeyCorp lifted their FY2019 earnings per share estimates for shares of Urban Outfitters in a research report issued on Tuesday, Zacks Investment Research reports. KeyCorp analyst E. Yruma now forecasts that the apparel retailer will earn $2.28 per share for the year, up from their prior estimate of $1.97. KeyCorp currently has a “Positive” rating and a $45.00 target price on the stock. KeyCorp also issued estimates for Urban Outfitters’ FY2020 earnings at $2.45 EPS.
Urban Outfitters (NASDAQ:URBN) last posted its earnings results on Tuesday, March 6th. The apparel retailer reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.06. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. Urban Outfitters had a return on equity of 14.19% and a net margin of 2.99%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share.
Several other research firms have also weighed in on URBN. Morgan Stanley reiterated an “equal weight” rating and set a $33.00 target price (up from $28.00) on shares of Urban Outfitters in a report on Wednesday, March 7th. B. Riley lifted their target price on Urban Outfitters from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. SunTrust Banks set a $42.00 target price on Urban Outfitters and gave the stock a “buy” rating in a report on Wednesday, March 7th. Royal Bank of Canada set a $40.00 target price on Urban Outfitters and gave the stock a “hold” rating in a report on Tuesday, March 6th. Finally, BMO Capital Markets set a $37.00 target price on Urban Outfitters and gave the stock a “hold” rating in a report on Tuesday, March 6th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.04.
URBN stock traded down $0.05 during midday trading on Friday, hitting $36.91. 2,474,248 shares of the company’s stock were exchanged, compared to its average volume of 2,428,133. The firm has a market cap of $4,000.87, a PE ratio of 22.10, a P/E/G ratio of 1.37 and a beta of 0.54. Urban Outfitters has a one year low of $16.19 and a one year high of $38.28.
In related news, CEO Margaret Hayne sold 41,100 shares of Urban Outfitters stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $36.65, for a total value of $1,506,315.00. Following the sale, the chief executive officer now owns 1,066,184 shares of the company’s stock, valued at $39,075,643.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott A. Belair sold 30,000 shares of Urban Outfitters stock in a transaction dated Wednesday, March 28th. The shares were sold at an average price of $36.56, for a total value of $1,096,800.00. Following the completion of the sale, the director now directly owns 2,470,000 shares in the company, valued at approximately $90,303,200. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,865 shares of company stock worth $6,907,509. 26.30% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc grew its holdings in Urban Outfitters by 6.3% during the third quarter. Legal & General Group Plc now owns 119,189 shares of the apparel retailer’s stock worth $2,849,000 after purchasing an additional 7,046 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Urban Outfitters by 42.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,094 shares of the apparel retailer’s stock worth $179,000 after purchasing an additional 1,522 shares during the period. Contravisory Investment Management Inc. bought a new position in Urban Outfitters during the fourth quarter worth about $414,000. Emerald Advisers Inc. PA bought a new position in Urban Outfitters during the fourth quarter worth about $297,000. Finally, Royce & Associates LP grew its holdings in Urban Outfitters by 11.8% during the third quarter. Royce & Associates LP now owns 95,000 shares of the apparel retailer’s stock worth $2,271,000 after purchasing an additional 10,000 shares during the period. Institutional investors and hedge funds own 76.74% of the company’s stock.
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About Urban Outfitters
Urban Outfitters, Inc is a lifestyle specialty retail company. The Company operates through two segments: Retail and Wholesale. The Company’s Retail segment consists of its Urban Outfitters, Anthropologie, Free People, Terrain and Bhldn brands, whose merchandise is sold to its customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
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