Urban Outfitters (NASDAQ:URBN) Shares Gap Down After Earnings Miss

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Urban Outfitters, Inc. (NASDAQ:URBN) shares gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $31.04, but opened at $30.16. Urban Outfitters shares last traded at $28.79, with a volume of 8,285,600 shares changing hands.

The apparel retailer reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Urban Outfitters had a net margin of 6.54% and a return on equity of 18.10%. The firm had revenue of $987.47 million during the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the business earned $0.70 EPS. The business’s revenue was up 1.4% on a year-over-year basis.

URBN has been the subject of several recent analyst reports. Wells Fargo & Co upgraded shares of Urban Outfitters from a “market perform” rating to an “outperform” rating and raised their target price for the company from $25.00 to $30.00 in a research note on Monday, September 30th. Deutsche Bank lowered their price target on Urban Outfitters from $29.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, August 16th. Jefferies Financial Group dropped their price objective on Urban Outfitters from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday. MKM Partners cut their price objective on Urban Outfitters to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, August 21st. Finally, William Blair reaffirmed a “hold” rating on shares of Urban Outfitters in a research report on Wednesday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $29.72.

Institutional investors have recently bought and sold shares of the company. Northwestern Mutual Investment Management Company LLC lifted its holdings in Urban Outfitters by 2.8% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 20,112 shares of the apparel retailer’s stock worth $565,000 after purchasing an additional 554 shares during the last quarter. Great Lakes Advisors LLC lifted its holdings in shares of Urban Outfitters by 31.2% during the third quarter. Great Lakes Advisors LLC now owns 155,579 shares of the apparel retailer’s stock worth $4,370,000 after buying an additional 37,013 shares in the last quarter. Systematic Financial Management LP lifted its holdings in shares of Urban Outfitters by 3.3% during the third quarter. Systematic Financial Management LP now owns 672,636 shares of the apparel retailer’s stock worth $18,894,000 after buying an additional 21,730 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Urban Outfitters by 73.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,670,448 shares of the apparel retailer’s stock valued at $75,013,000 after acquiring an additional 1,127,172 shares during the period. Finally, Mason Street Advisors LLC boosted its position in shares of Urban Outfitters by 1.2% in the third quarter. Mason Street Advisors LLC now owns 36,990 shares of the apparel retailer’s stock valued at $1,039,000 after acquiring an additional 438 shares during the period. 74.38% of the stock is currently owned by institutional investors.

The company has a quick ratio of 0.89, a current ratio of 1.60 and a debt-to-equity ratio of 0.80. The company’s 50 day moving average is $28.72 and its 200 day moving average is $25.12. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 8.88, a P/E/G ratio of 1.32 and a beta of 0.77.

Urban Outfitters Company Profile (NASDAQ:URBN)

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates in two segments, Retail and wholesale. 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 casual apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.

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