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

Shares of Urban Outfitters, Inc. (NASDAQ:URBN) gapped up prior to trading 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 traded.

The apparel retailer reported $1.04 earnings per share for the quarter, topping 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

A number of equities research analysts have recently commented on the company. Morgan Stanley raised Urban Outfitters from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $41.00 to $63.00 in a research report on Tuesday, January 21st. Citigroup raised Urban Outfitters from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $42.00 to $59.00 in a research report on Wednesday, November 27th. JPMorgan Chase & Co. lifted their price objective on Urban Outfitters from $46.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Bank of America lifted their price objective on Urban Outfitters from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Barclays lifted their price objective on Urban Outfitters from $51.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $55.55.

Insiders Place Their Bets

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 stock was sold at an average price of $50.50, for a total value of $757,500.00. Following the transaction, the director now owns 495,296 shares in the company, valued at approximately $25,012,448. The trade was a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 31.80% of the stock is currently owned by insiders.

Institutional Trading of Urban Outfitters

Several institutional investors and hedge funds have recently bought and sold shares of URBN. Blue Trust Inc. raised its stake in Urban Outfitters by 138.8% during the third quarter. Blue Trust Inc. now owns 609 shares of the apparel retailer’s stock valued at $25,000 after buying an additional 354 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Urban Outfitters by 80.9% during the third quarter. Assenagon Asset Management S.A. now owns 139,361 shares of the apparel retailer’s stock valued at $5,339,000 after purchasing an additional 62,343 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Urban Outfitters by 26.9% during the third quarter. Farther Finance Advisors LLC now owns 3,707 shares of the apparel retailer’s stock valued at $142,000 after purchasing an additional 785 shares during the last quarter. James Investment Research Inc. grew its holdings in shares of Urban Outfitters by 33.2% during the third quarter. James Investment Research Inc. now owns 10,521 shares of the apparel retailer’s stock valued at $403,000 after purchasing an additional 2,620 shares during the last quarter. Finally, Ground Swell Capital LLC bought a new position in shares of Urban Outfitters during the third quarter valued at approximately $223,000. Institutional investors and hedge funds own 77.61% of the company’s stock.

Urban Outfitters Price Performance

The company has a market capitalization of $5.17 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 1.02 and a beta of 1.54. The company has a fifty day moving average price of $55.78 and a 200 day moving average price of $45.34.

Urban Outfitters Company Profile

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.