Urban Outfitters (NASDAQ:URBN) Trading 3.6% Higher

Urban Outfitters, Inc. (NASDAQ:URBN) shot up 3.6% during trading on Wednesday . The company traded as high as $37.45 and last traded at $37.29. 263,718 shares traded hands during trading, a decline of 85% from the average session volume of 1,723,732 shares. The stock had previously closed at $35.98.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Bank of America cut their target price on shares of Urban Outfitters from $52.00 to $46.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Jefferies Financial Group cut their price objective on shares of Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday, August 22nd. UBS Group increased their target price on shares of Urban Outfitters from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Wells Fargo & Company cut their price target on Urban Outfitters from $48.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Finally, BMO Capital Markets reduced their price target on Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating for the company in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $42.30.

Urban Outfitters Stock Performance

The company has a 50 day simple moving average of $41.94 and a 200 day simple moving average of $41.82. The company has a market capitalization of $3.38 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 0.88 and a beta of 1.50.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings results on Wednesday, August 21st. The apparel retailer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.00 by $0.24. Urban Outfitters had a return on equity of 15.49% and a net margin of 5.83%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the business earned $1.10 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts anticipate that Urban Outfitters, Inc. will post 3.63 EPS for the current year.

Insider Transactions at Urban Outfitters

In other news, Director Harry S. Cherken, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $48.30, for a total value of $241,500.00. Following the transaction, the director now directly owns 565,296 shares of the company’s stock, valued at $27,303,796.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On Urban Outfitters

Several hedge funds and other institutional investors have recently made changes to their positions in URBN. QRG Capital Management Inc. boosted its stake in Urban Outfitters by 2.4% during the second quarter. QRG Capital Management Inc. now owns 9,327 shares of the apparel retailer’s stock worth $383,000 after buying an additional 221 shares during the last quarter. Evergreen Capital Management LLC boosted its position in shares of Urban Outfitters by 2.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 9,361 shares of the apparel retailer’s stock valued at $384,000 after acquiring an additional 258 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Urban Outfitters by 15.5% in the second quarter. Signaturefd LLC now owns 2,230 shares of the apparel retailer’s stock valued at $92,000 after purchasing an additional 299 shares during the period. Arizona State Retirement System increased its position in Urban Outfitters by 2.4% during the second quarter. Arizona State Retirement System now owns 16,976 shares of the apparel retailer’s stock worth $697,000 after purchasing an additional 401 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in Urban Outfitters by 89.7% during the fourth quarter. Parallel Advisors LLC now owns 882 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 417 shares during the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.

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.