Urban Outfitters (NASDAQ:URBN) Announces Earnings Results

Urban Outfitters (NASDAQ:URBN) issued its quarterly earnings results on Wednesday. The apparel retailer reported $1.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.72, Zacks reports. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%.

Urban Outfitters Price Performance

Shares of URBN traded up $7.17 during midday trading on Wednesday, reaching $82.95. The stock had a trading volume of 3,567,389 shares, compared to its average volume of 1,414,301. Urban Outfitters has a 1-year low of $59.53 and a 1-year high of $84.35. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 1.41 and a beta of 1.23. The company’s fifty day simple moving average is $73.69 and its two-hundred day simple moving average is $70.64.

Hedge Funds Weigh In On Urban Outfitters

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Abrams Bison Investments LLC purchased a new position in shares of Urban Outfitters in the 4th quarter worth $127,114,000. Balyasny Asset Management L.P. grew its stake in Urban Outfitters by 5,360.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 618,152 shares of the apparel retailer’s stock valued at $44,155,000 after purchasing an additional 606,831 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Urban Outfitters by 8.1% during the 4th 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 last quarter. Invesco Ltd. raised its stake in shares of Urban Outfitters by 106.2% in the 3rd quarter. Invesco Ltd. now owns 487,102 shares of the apparel retailer’s stock valued at $34,794,000 after purchasing an additional 250,927 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Urban Outfitters in the second quarter worth about $17,279,000. 77.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on URBN shares. The Goldman Sachs Group raised shares of Urban Outfitters from a “neutral” rating to a “buy” rating and upped their target price for the stock from $76.00 to $93.00 in a research note on Monday, July 20th. Morgan Stanley restated an “overweight” rating and issued a $89.00 price target on shares of Urban Outfitters in a research note on Monday, July 6th. Weiss Ratings upgraded Urban Outfitters from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Barclays decreased their target price on Urban Outfitters from $102.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, May 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Urban Outfitters from $97.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 18th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Urban Outfitters presently has a consensus rating of “Moderate Buy” and an average price target of $89.73.

About Urban Outfitters

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.