Urban Outfitters (NASDAQ:URBN) Trading Up 5.2% – Here’s What Happened

Urban Outfitters, Inc. (NASDAQ:URBN)’s share price traded up 5.2% during trading on Thursday . The stock traded as high as $76.37 and last traded at $76.7650. Approximately 139,667 shares changed hands during trading, a decline of 91% from the average daily volume of 1,476,285 shares. The stock had previously closed at $72.95.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on URBN. Weiss Ratings raised shares of Urban Outfitters from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 26th. JPMorgan Chase & Co. raised their price objective on shares of Urban Outfitters from $94.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Wall Street Zen upgraded Urban Outfitters from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Bank of America upped their target price on Urban Outfitters from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Finally, Barclays lowered their price target on Urban Outfitters from $102.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $87.00.

Urban Outfitters Trading Up 3.9%

The company’s 50-day moving average price is $71.86 and its two-hundred day moving average price is $70.22. The company has a market cap of $6.49 billion, a P/E ratio of 14.66, a price-to-earnings-growth ratio of 1.30 and a beta of 1.22.

Urban Outfitters (NASDAQ:URBN) last released its earnings results on Thursday, May 21st. The apparel retailer reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.18. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm earned $1.16 EPS. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Equities analysts forecast that Urban Outfitters, Inc. will post 6.13 earnings per share for the current year.

Insider Activity at Urban Outfitters

In other news, insider Azeez Hayne sold 8,733 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $73.18, for a total transaction of $639,080.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Melanie Marein-Efron sold 5,036 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $73.42, for a total value of $369,743.12. Following the sale, the chief financial officer directly owned 17,023 shares of the company’s stock, valued at approximately $1,249,828.66. This represents a 22.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 32.10% of the company’s stock.

Institutional Investors Weigh In On Urban Outfitters

A number of institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Urban Outfitters by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,728 shares of the apparel retailer’s stock worth $1,977,000 after buying an additional 1,653 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Urban Outfitters by 10.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,668 shares of the apparel retailer’s stock worth $7,476,000 after purchasing an additional 13,554 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Urban Outfitters by 343.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,435 shares of the apparel retailer’s stock valued at $177,000 after purchasing an additional 1,886 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Urban Outfitters by 125.1% in the second quarter. EverSource Wealth Advisors LLC now owns 493 shares of the apparel retailer’s stock valued at $36,000 after purchasing an additional 274 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Urban Outfitters by 14.0% in the second quarter. First Trust Advisors LP now owns 182,547 shares of the apparel retailer’s stock valued at $13,242,000 after purchasing an additional 22,393 shares in the last quarter. 77.61% of the stock is owned by institutional investors and hedge funds.

Urban Outfitters Company Profile

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city’s historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.