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

Urban Outfitters, Inc. (NASDAQ:URBN) gapped down prior to trading 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 changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently commented on URBN shares. BMO Capital Markets increased their target price on shares of Urban Outfitters from $38.00 to $42.00 and gave the company a “market perform” rating in a research report on Thursday, February 29th. Jefferies Financial Group downgraded shares of Urban Outfitters from a “hold” rating to an “underperform” rating and dropped their target price for the company from $42.00 to $32.00 in a research report on Wednesday. UBS Group increased their target price on shares of 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 objective on shares of Urban Outfitters from $46.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Finally, StockNews.com downgraded shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $39.67.

Urban Outfitters Stock Down 0.1 %

The firm has a market cap of $3.45 billion, a PE ratio of 12.18, a P/E/G ratio of 0.58 and a beta of 1.53. The company’s fifty day moving average price is $41.95 and its two-hundred day moving average price is $38.05.

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

Insider Activity at Urban Outfitters

In related news, insider Azeez Hayne sold 2,878 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $40.75, for a total value of $117,278.50. Following the completion of the sale, the insider now owns 2,878 shares in the company, valued at $117,278.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Urban Outfitters news, CFO Melanie Marein-Efron sold 3,345 shares of Urban Outfitters stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $42.23, for a total transaction of $141,259.35. Following the completion of the transaction, the chief financial officer now owns 6,908 shares in the company, valued at $291,724.84. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Azeez Hayne sold 2,878 shares of Urban Outfitters stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $40.75, for a total transaction of $117,278.50. Following the transaction, the insider now owns 2,878 shares of the company’s stock, valued at approximately $117,278.50. The disclosure for this sale can be found here. Insiders sold 18,473 shares of company stock worth $757,483 over the last 90 days. Company insiders own 31.80% of the company’s stock.

Hedge Funds Weigh In On Urban Outfitters

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in URBN. JPMorgan Chase & Co. raised its position in Urban Outfitters by 10.2% during the first quarter. JPMorgan Chase & Co. now owns 334,511 shares of the apparel retailer’s stock worth $8,400,000 after acquiring an additional 30,879 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Urban Outfitters by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 19,483 shares of the apparel retailer’s stock valued at $490,000 after buying an additional 625 shares during the last quarter. Natixis Advisors L.P. acquired a new position in shares of Urban Outfitters in the first quarter valued at approximately $254,000. MetLife Investment Management LLC raised its position in shares of Urban Outfitters by 40.6% in the first quarter. MetLife Investment Management LLC now owns 78,323 shares of the apparel retailer’s stock valued at $1,967,000 after buying an additional 22,600 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Urban Outfitters by 3.2% in the first quarter. Rhumbline Advisers now owns 192,880 shares of the apparel retailer’s stock valued at $4,843,000 after buying an additional 5,917 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 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.