Urban Outfitters (NASDAQ:URBN) Shares Gap Up – What’s Next?

Shares of Urban Outfitters, Inc. (NASDAQ:URBN) gapped up before the market opened on Monday . The stock had previously closed at $72.98, but opened at $76.00. Urban Outfitters shares last traded at $75.3110, with a volume of 127,475 shares.

Analysts Set New Price Targets

Several brokerages recently weighed in on URBN. Wall Street Zen upgraded shares of Urban Outfitters from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. JPMorgan Chase & Co. increased their price target on shares of Urban Outfitters from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Bank of America raised their price objective on Urban Outfitters from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Zacks Research raised shares of Urban Outfitters from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Finally, Morgan Stanley restated an “overweight” rating and issued a $89.00 price target on shares of Urban Outfitters in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.91.

Urban Outfitters Stock Performance

The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 1.38 and a beta of 1.22. The company has a 50-day simple moving average of $72.26 and a two-hundred day simple moving average of $70.17.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings data on Thursday, May 21st. The apparel retailer reported $1.30 EPS for the quarter, beating the consensus estimate of $1.12 by $0.18. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm posted $1.16 EPS. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, sell-side analysts predict that Urban Outfitters, Inc. will post 6.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Urban Outfitters

In other Urban Outfitters news, insider Azeez Hayne sold 8,733 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Melanie Marein-Efron sold 5,036 shares of Urban Outfitters stock in a transaction dated Friday, May 22nd. The shares were 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 directly owned 17,023 shares of the company’s stock, valued at approximately $1,249,828.66. This trade represents a 22.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 32.10% of the company’s stock.

Hedge Funds Weigh In On Urban Outfitters

Institutional investors have recently bought and sold shares of the business. Jupiter Asset Management Ltd. boosted its position in Urban Outfitters by 33.8% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,297,452 shares of the apparel retailer’s stock worth $97,646,000 after purchasing an additional 327,453 shares during the period. HighTower Advisors LLC raised its position in shares of Urban Outfitters by 883.4% in the fourth quarter. HighTower Advisors LLC now owns 43,081 shares of the apparel retailer’s stock valued at $3,242,000 after purchasing an additional 38,700 shares during the period. Virtus Wealth Solutions LLC bought a new position in shares of Urban Outfitters in the fourth quarter valued at about $1,310,000. UBS Group AG lifted its stake in shares of Urban Outfitters by 339.3% during the 4th quarter. UBS Group AG now owns 641,454 shares of the apparel retailer’s stock worth $48,276,000 after buying an additional 495,441 shares during the last quarter. Finally, Braun Stacey Associates Inc. bought a new stake in shares of Urban Outfitters during the 4th quarter worth about $19,366,000. Institutional investors and hedge funds own 77.61% of the company’s stock.

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.