Urban Outfitters (NASDAQ:URBN) Trading 5.2% Higher – What’s Next?

Urban Outfitters, Inc. (NASDAQ:URBN) rose 5.2% during mid-day trading on Thursday . The company traded as high as $76.37 and last traded at $76.7650. Approximately 139,667 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 1,476,285 shares. The stock had previously closed at $72.95.

Wall Street Analyst Weigh In

URBN has been the topic of a number of analyst reports. Wall Street Zen raised shares of Urban Outfitters from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Morgan Stanley reissued an “overweight” rating and set a $89.00 target price on shares of Urban Outfitters in a research report on Monday, July 6th. Jefferies Financial Group reissued a “hold” rating and issued a $72.00 price objective on shares of Urban Outfitters in a research note on Thursday, May 21st. Zacks Research upgraded Urban Outfitters from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Finally, Bank of America upped their price objective on shares of Urban Outfitters from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Urban Outfitters has a consensus rating of “Moderate Buy” and an average target price of $87.00.

Urban Outfitters Stock Performance

The business has a 50 day simple moving average of $71.99 and a two-hundred day simple moving average of $70.22. The firm has a market capitalization of $6.25 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22.

Urban Outfitters (NASDAQ:URBN) last released its earnings results on Thursday, May 21st. The apparel retailer reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.18. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the firm earned $1.16 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. On average, equities analysts anticipate that Urban Outfitters, Inc. will post 6.13 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Melanie Marein-Efron sold 5,036 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $73.42, for a total transaction of $369,743.12. Following the completion of the transaction, the chief financial officer owned 17,023 shares of the company’s stock, valued at $1,249,828.66. This trade represents a 22.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Azeez Hayne sold 8,733 shares of Urban Outfitters stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $73.18, for a total value of $639,080.94. The disclosure for this sale is available in the SEC filing. 32.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Urban Outfitters

Several institutional investors and hedge funds have recently modified their holdings of the stock. Eurizon Capital SGR S.p.A. purchased a new stake in Urban Outfitters during the 4th quarter valued at about $27,000. Brown Brothers Harriman & Co. grew its holdings in shares of Urban Outfitters by 815.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer’s stock valued at $28,000 after buying an additional 326 shares during the last quarter. Salomon & Ludwin LLC increased its position in shares of Urban Outfitters by 58.4% during the fourth quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 149 shares in the last quarter. Spire Wealth Management raised its holdings in Urban Outfitters by 83.3% in the 4th quarter. Spire Wealth Management now owns 440 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 200 shares during the last quarter. Finally, Richardson Financial Services Inc. lifted its position in Urban Outfitters by 90.3% in the 4th quarter. Richardson Financial Services Inc. now owns 432 shares of the apparel retailer’s stock valued at $33,000 after acquiring an additional 205 shares in the last quarter. 77.61% of the stock is currently owned by institutional investors.

Urban Outfitters Company Profile

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.