Chase Investment Counsel Corp Makes New Investment in Urban Outfitters, Inc. $URBN

Chase Investment Counsel Corp acquired a new stake in Urban Outfitters, Inc. (NASDAQ:URBN) during the second quarter, Holdings Channel.com reports. The fund acquired 67,313 shares of the apparel retailer’s stock, valued at approximately $4,769,000.

A number of other hedge funds have also recently made changes to their positions in the business. Eurizon Capital SGR S.p.A. bought a new stake in shares of Urban Outfitters during the fourth quarter worth about $27,000. Brown Brothers Harriman & Co. lifted its position in Urban Outfitters by 815.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer’s stock valued at $28,000 after acquiring an additional 326 shares in the last quarter. Salomon & Ludwin LLC lifted its position in Urban Outfitters by 58.4% in the 4th quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 149 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Urban Outfitters during the 4th quarter valued at about $33,000. Finally, Transamerica Financial Advisors LLC increased its holdings in Urban Outfitters by 566.7% during the 4th quarter. Transamerica Financial Advisors LLC now owns 440 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 374 shares in the last quarter. 77.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Urban Outfitters

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Jefferies Financial Group increased their price objective on Urban Outfitters from $72.00 to $79.00 and gave the stock a “hold” rating in a research note on Wednesday. The Goldman Sachs Group upgraded shares of Urban Outfitters from a “neutral” rating to a “buy” rating and upped their target price for the stock from $76.00 to $93.00 in a research note on Monday, July 20th. Morgan Stanley restated an “overweight” rating and set a $89.00 price target on shares of Urban Outfitters in a report on Monday, July 6th. Weiss Ratings downgraded shares of Urban Outfitters from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. increased 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. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Urban Outfitters has a consensus rating of “Moderate Buy” and an average price target of $88.55.

Urban Outfitters Price Performance

NASDAQ URBN opened at $77.81 on Monday. The business’s fifty day moving average is $73.72 and its 200-day moving average is $70.47. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.44 and a beta of 1.23. Urban Outfitters, Inc. has a one year low of $59.53 and a one year high of $84.35.

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

About Urban Outfitters

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.