Urban Outfitters (NASDAQ:URBN) Shares Gap Down to $38.02

Urban Outfitters, Inc. (NASDAQ:URBN)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $38.02, but opened at $36.66. Urban Outfitters shares last traded at $36.89, with a volume of 546,871 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have weighed in on URBN. Telsey Advisory Group raised their target price on shares of Urban Outfitters from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. UBS Group upped their target price on Urban Outfitters from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. lowered their price target on Urban Outfitters from $46.00 to $44.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. StockNews.com downgraded shares of Urban Outfitters from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, BMO Capital Markets lifted their target price on shares of Urban Outfitters from $38.00 to $42.00 and gave the stock a “market perform” rating in a research note on Thursday, February 29th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Urban Outfitters currently has a consensus rating of “Hold” and an average price target of $39.58.

Urban Outfitters Stock Down 2.9 %

The stock has a market cap of $3.44 billion, a PE ratio of 12.51, a P/E/G ratio of 0.60 and a beta of 1.53. The business’s fifty day moving average is $42.13 and its 200 day moving average is $38.06.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings data on Tuesday, February 27th. The apparel retailer reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.04). Urban Outfitters had a return on equity of 15.32% and a net margin of 5.58%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts predict that Urban Outfitters, Inc. will post 3.53 EPS for the current year.

Insider Activity

In other Urban Outfitters news, insider Azeez Hayne sold 2,878 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $40.75, for a total value of $117,278.50. Following the completion of the transaction, the insider now directly owns 2,878 shares in the company, valued at approximately $117,278.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Azeez Hayne sold 2,878 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $40.75, for a total transaction of $117,278.50. Following the transaction, the insider now directly owns 2,878 shares in the company, valued at approximately $117,278.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Tricia D. Smith sold 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $40.74, for a total transaction of $254,625.00. Following the transaction, the chief executive officer now directly owns 6,353 shares of the company’s stock, valued at approximately $258,821.22. The disclosure for this sale can be found here. Insiders sold a total of 18,473 shares of company stock valued at $757,483 over the last 90 days. Insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of URBN. The Manufacturers Life Insurance Company lifted its holdings in shares of Urban Outfitters by 0.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,714 shares of the apparel retailer’s stock valued at $1,415,000 after acquiring an additional 277 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in Urban Outfitters by 6.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,274 shares of the apparel retailer’s stock worth $175,000 after acquiring an additional 329 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Urban Outfitters by 3.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 10,314 shares of the apparel retailer’s stock worth $342,000 after acquiring an additional 367 shares during the period. Steward Partners Investment Advisory LLC grew its position in Urban Outfitters by 20.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,374 shares of the apparel retailer’s stock valued at $57,000 after acquiring an additional 400 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Urban Outfitters by 89.7% during the fourth quarter. Parallel Advisors LLC now owns 882 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 417 shares during the period. 77.61% of the stock is owned by institutional investors and hedge funds.

About Urban Outfitters

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nully. 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.