Urban Outfitters (NASDAQ:URBN) Reaches New 1-Year High – Here’s What Happened

Urban Outfitters, Inc. (NASDAQ:URBN)’s share price reached a new 52-week high on Tuesday. The stock traded as high as $85.48 and last traded at $85.5190, with a volume of 306,447 shares trading hands. The stock had previously closed at $82.69.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on URBN. JPMorgan Chase & Co. increased their target price on shares of Urban Outfitters from $97.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 18th. Citigroup restated a “neutral” rating on shares of Urban Outfitters in a report on Friday, August 28th. Weiss Ratings upgraded shares of Urban Outfitters from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 22nd. Wall Street Zen downgraded shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research note on Monday, August 31st. Finally, Wells Fargo & Company upped their price target on shares of Urban Outfitters from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 27th. Eight research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Urban Outfitters currently has an average rating of “Moderate Buy” and an average price target of $89.75.

Urban Outfitters Stock Performance

The firm’s 50 day moving average is $77.82 and its 200-day moving average is $73.42. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 1.28 and a beta of 1.24.

Urban Outfitters (NASDAQ:URBN) last posted its earnings results on Thursday, August 27th. The apparel retailer reported $1.72 EPS for the quarter, hitting the consensus estimate of $1.72. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. Urban Outfitters had a net margin of 8.79% and a return on equity of 18.64%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 earnings per share. As a group, research analysts predict that Urban Outfitters, Inc. will post 6.20 EPS for the current year.

Insider Transactions at Urban Outfitters

In other news, CEO Tricia Smith sold 3,500 shares of the company’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $75.95, for a total transaction of $265,825.00. Following the completion of the sale, the chief executive officer owned 30,112 shares in the company, valued at approximately $2,287,006.40. This represents a 10.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Melanie Marein-Efron sold 5,700 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $80.75, for a total value of $460,275.00. Following the sale, the chief financial officer owned 11,323 shares of the company’s stock, valued at approximately $914,332.25. This trade represents a 33.48% decrease in their position. The SEC filing for this sale provides additional information. 32.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Urban Outfitters

A number of large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP acquired a new position in Urban Outfitters during the second quarter valued at approximately $31,000. Kilter Group LLC bought a new position in shares of Urban Outfitters in the second quarter valued at approximately $35,000. NewEdge Advisors LLC lifted its stake in shares of Urban Outfitters by 87.0% in the second quarter. NewEdge Advisors LLC now owns 531 shares of the apparel retailer’s stock worth $38,000 after buying an additional 247 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Urban Outfitters in the fourth quarter worth $47,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Urban Outfitters by 39.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,167 shares of the apparel retailer’s stock worth $89,000 after buying an additional 331 shares during the period. Institutional investors own 77.61% of the company’s stock.

About Urban Outfitters

Urban Outfitters, Inc is a lifestyle retail company that offers apparel, accessories, beauty products, home furnishings, and other lifestyle merchandise through stores and digital channels. Its brands target a range of customer groups and aesthetic preferences, from contemporary fashion and eclectic home goods to activewear and rental apparel.

The company’s portfolio includes Urban Outfitters, Anthropologie, Free People, FP Movement, Terrain, and Nuuly. Urban Outfitters focuses on fashion-forward apparel, accessories, and home products; Anthropologie offers women’s clothing, accessories, beauty products, and home furnishings; and Free People and FP Movement specialize in women’s apparel and activewear.