Urban Outfitters (NASDAQ:URBN) Stock Jumps 4.3% – Here’s Why

Urban Outfitters, Inc. (NASDAQ:URBN) traded up 4.3% during trading on Monday. The stock traded as high as $88.56 and last traded at $90.29. Approximately 25,814 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 1,341,675 shares. The stock had previously closed at $86.55.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Needham & Company LLC initiated coverage on shares of Urban Outfitters in a research note on Friday, October 16th. They set a “buy” rating and a $100.00 price target for the company. UBS Group increased their target price on shares of Urban Outfitters from $80.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, August 27th. Zacks Research downgraded shares of Urban Outfitters from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 14th. Wolfe Research started coverage on shares of Urban Outfitters in a research report on Wednesday. They set a “peer perform” rating on the stock. Finally, Wall Street Zen downgraded Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Monday, August 31st. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.54.

Urban Outfitters Stock Performance

The firm has a market cap of $7.80 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.35 and a beta of 1.24. The firm’s fifty day moving average is $79.37 and its 200 day moving average is $74.90.

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

Insider Activity

In related news, Director Harry S. Cherken, Jr. sold 5,000 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $87.06, for a total transaction of $435,300.00. Following the sale, the director owned 494,315 shares of the company’s stock, valued at $43,035,063.90. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Melanie Marein-Efron sold 5,700 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $80.75, for a total value of $460,275.00. Following the completion of the transaction, the chief financial officer directly 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. Over the last 90 days, insiders sold 14,200 shares of company stock valued at $1,161,400. 32.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in shares of Urban Outfitters during the 2nd quarter worth $31,000. Kilter Group LLC acquired a new position in Urban Outfitters during the 2nd quarter worth approximately $35,000. Root Financial Partners LLC acquired a new position in shares of Urban Outfitters during the third quarter worth $38,000. NewEdge Advisors LLC lifted its stake in shares of Urban Outfitters by 87.0% in the 2nd quarter. NewEdge Advisors LLC now owns 531 shares of the apparel retailer’s stock valued at $38,000 after acquiring an additional 247 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Urban Outfitters by 39.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,167 shares of the apparel retailer’s stock valued at $89,000 after acquiring an additional 331 shares during the last quarter. 77.61% of the stock is owned by institutional investors.

About Urban Outfitters

Urban Outfitters, Inc is a lifestyle retail company that operates a portfolio of consumer brands focused on apparel, accessories, home furnishings, beauty products and related merchandise. Its principal brands include Urban Outfitters, Anthropologie, Free People, Terrain and Nuuly. The company serves customers through retail stores, brand websites, mobile applications and other digital channels.

Urban Outfitters offers fashion-oriented products for women and men, while Anthropologie emphasizes women’s apparel, accessories, home goods and lifestyle merchandise.