Urban Outfitters (NASDAQ:URBN) Shares Up 3.4% – Here’s Why

Urban Outfitters, Inc. (NASDAQ:URBN)’s share price was up 3.4% during mid-day trading on Friday . The company traded as high as $43.65 and last traded at $46.76. Approximately 813,910 shares traded hands during trading, a decline of 55% from the average daily volume of 1,803,525 shares. The stock had previously closed at $45.24.

Analysts Set New Price Targets

Several brokerages have commented on URBN. Telsey Advisory Group upped their price objective on shares of Urban Outfitters from $56.00 to $59.00 and gave the stock a “market perform” rating in a report on Thursday, February 27th. StockNews.com upgraded shares of Urban Outfitters from a “hold” rating to a “buy” rating in a report on Saturday, March 1st. Robert W. Baird lifted their price objective on Urban Outfitters from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Barclays increased their target price on Urban Outfitters from $63.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company raised their target price on Urban Outfitters from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.00.

Urban Outfitters Price Performance

The stock has a 50 day simple moving average of $54.04 and a 200-day simple moving average of $48.01. The firm has a market cap of $4.41 billion, a PE ratio of 13.67, a PEG ratio of 1.02 and a beta of 1.37.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Wednesday, February 26th. The apparel retailer reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.15. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. As a group, equities analysts predict that Urban Outfitters, Inc. will post 3.91 EPS for the current fiscal year.

Insider Transactions at Urban Outfitters

In related news, insider Azeez Hayne sold 11,676 shares of Urban Outfitters stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $54.75, for a total value of $639,261.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harry S. Cherken, Jr. sold 15,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $50.50, for a total transaction of $757,500.00. Following the transaction, the director now owns 495,296 shares in the company, valued at $25,012,448. This represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,976 shares of company stock worth $5,573,263. Corporate insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Centiva Capital LP raised its stake in Urban Outfitters by 100.7% during the 3rd quarter. Centiva Capital LP now owns 28,683 shares of the apparel retailer’s stock valued at $1,099,000 after buying an additional 14,393 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new stake in Urban Outfitters during the third quarter valued at $1,609,000. Point72 DIFC Ltd bought a new position in Urban Outfitters in the third quarter valued at about $106,000. Petrus Trust Company LTA purchased a new position in Urban Outfitters in the third quarter worth about $642,000. Finally, Quarry LP boosted its position in Urban Outfitters by 32.3% in the third quarter. Quarry LP now owns 1,222 shares of the apparel retailer’s stock worth $47,000 after purchasing an additional 298 shares during the last quarter. 77.61% of the stock is owned by hedge funds and other institutional investors.

Urban Outfitters Company Profile

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nuuly. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.