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

Shares of Urban Outfitters, Inc. (NASDAQ:URBN) gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $40.14, but opened at $45.57. Urban Outfitters shares last traded at $45.52, with a volume of 1,374,887 shares traded.

The apparel retailer reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.28. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. Urban Outfitters had a return on equity of 15.49% and a net margin of 5.83%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 earnings per share.

Wall Street Analysts Forecast Growth

URBN has been the subject of a number of recent research reports. Telsey Advisory Group boosted their price objective on shares of Urban Outfitters from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday. Barclays lifted their price objective on Urban Outfitters from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of Urban Outfitters from $40.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday. Citigroup raised Urban Outfitters from a “neutral” rating to a “buy” rating and raised their price objective for the company from $42.00 to $59.00 in a research report on Wednesday. Finally, Morgan Stanley boosted their price target on Urban Outfitters from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $46.27.

Insider Buying and Selling at Urban Outfitters

In related news, CEO Tricia D. Smith sold 11,730 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $35.29, for a total transaction of $413,951.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.80% of the stock is owned by corporate insiders.

Institutional Trading of Urban Outfitters

Institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. grew its holdings in shares of Urban Outfitters by 7.6% in the third quarter. Franklin Resources Inc. now owns 35,686 shares of the apparel retailer’s stock valued at $1,315,000 after purchasing an additional 2,527 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Urban Outfitters by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer’s stock worth $56,765,000 after purchasing an additional 18,249 shares during the last quarter. XTX Topco Ltd boosted its position in Urban Outfitters by 367.0% in the 3rd quarter. XTX Topco Ltd now owns 25,427 shares of the apparel retailer’s stock valued at $974,000 after buying an additional 19,982 shares during the period. Zacks Investment Management boosted its holdings in shares of Urban Outfitters by 10.4% in the third quarter. Zacks Investment Management now owns 43,607 shares of the apparel retailer’s stock valued at $1,671,000 after purchasing an additional 4,092 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in shares of Urban Outfitters in the 3rd quarter worth $3,894,000. Hedge funds and other institutional investors own 77.61% of the company’s stock.

Urban Outfitters Stock Up 18.3 %

The stock’s 50 day moving average is $37.24 and its two-hundred day moving average is $40.06. The company has a market capitalization of $4.38 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 0.95 and a beta of 1.50.

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.