Urban Outfitters, Inc. (URBN) Short Interest Up 14.0% in August
Urban Outfitters, Inc. (NASDAQ:URBN) was the target of a large growth in short interest in August. As of August 15th, there was short interest totalling 19,205,088 shares, a growth of 14.0% from the July 31st total of 16,853,674 shares. Based on an average daily trading volume, of 4,215,724 shares, the short-interest ratio is presently 4.6 days. Approximately 24.3% of the shares of the stock are sold short.
Shares of Urban Outfitters (NASDAQ:URBN) opened at 21.19 on Tuesday. The stock’s 50 day moving average is $18.64 and its 200 day moving average is $21.32. The company has a market cap of $2.36 billion, a P/E ratio of 14.18 and a beta of 0.66. Urban Outfitters has a 1-year low of $16.19 and a 1-year high of $40.80.
Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings data on Tuesday, August 15th. The apparel retailer reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.07. Urban Outfitters had a net margin of 4.92% and a return on equity of 13.61%. The company had revenue of $873 million during the quarter, compared to the consensus estimate of $860.80 million. During the same period in the previous year, the firm earned $0.66 earnings per share. Urban Outfitters’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, analysts predict that Urban Outfitters will post $1.42 earnings per share for the current year.
Urban Outfitters announced that its board has initiated a stock repurchase program on Thursday, August 24th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the apparel retailer to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
A number of brokerages have issued reports on URBN. BidaskClub upgraded Urban Outfitters from a “sell” rating to a “hold” rating in a research note on Saturday. SunTrust Banks, Inc. reiterated a “buy” rating on shares of Urban Outfitters in a research note on Wednesday, August 16th. Morgan Stanley increased their price target on Urban Outfitters from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 16th. MKM Partners set a $16.00 price target on Urban Outfitters and gave the stock a “sell” rating in a research note on Wednesday, August 16th. Finally, Bank of America Corporation set a $24.00 price target on Urban Outfitters and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Three research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $23.03.
A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Urban Outfitters by 9,872.9% in the first quarter. BlackRock Inc. now owns 13,405,864 shares of the apparel retailer’s stock valued at $318,523,000 after buying an additional 13,271,441 shares in the last quarter. Shapiro Capital Management LLC increased its stake in Urban Outfitters by 586.5% in the second quarter. Shapiro Capital Management LLC now owns 8,827,740 shares of the apparel retailer’s stock valued at $163,666,000 after buying an additional 7,541,840 shares in the last quarter. FMR LLC increased its stake in Urban Outfitters by 2.4% in the second quarter. FMR LLC now owns 5,986,454 shares of the apparel retailer’s stock valued at $110,988,000 after buying an additional 139,356 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Urban Outfitters by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 3,926,812 shares of the apparel retailer’s stock valued at $72,803,000 after buying an additional 10,249 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Urban Outfitters by 84.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,199,015 shares of the apparel retailer’s stock valued at $59,310,000 after buying an additional 1,462,130 shares in the last quarter. Institutional investors own 87.67% of the company’s stock.
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About Urban Outfitters
Urban Outfitters, Inc is a lifestyle specialty retail company. The Company operates through two segments: Retail and Wholesale. The Company’s Retail segment consists of its Urban Outfitters, Anthropologie, Free People, Terrain and Bhldn brands, whose merchandise is sold to its customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
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