Urban Outfitters Inc. (URBN) Short Interest Update
Urban Outfitters Inc. (NASDAQ:URBN) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 10,112,365 shares, a drop of 11.2% from the September 15th total of 11,383,300 shares. Approximately 12.2% of the shares of the company are short sold. Based on an average daily volume of 1,923,592 shares, the days-to-cover ratio is presently 5.3 days.
Urban Outfitters (NASDAQ:URBN) opened at 35.54 on Friday. The company has a 50-day moving average price of $35.77 and a 200 day moving average price of $31.15. Urban Outfitters has a 1-year low of $19.26 and a 1-year high of $37.82. The stock has a market capitalization of $4.17 billion, a P/E ratio of 18.30 and a beta of 0.91.
Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings data on Tuesday, August 16th. The apparel retailer reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.10. The firm earned $890.57 million during the quarter, compared to analyst estimates of $886.39 million. Urban Outfitters had a return on equity of 19.57% and a net margin of 6.63%. Urban Outfitters’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 earnings per share. On average, equities analysts predict that Urban Outfitters will post $2.06 EPS for the current year.
Several research analysts have recently issued reports on URBN shares. Wells Fargo & Co. restated a “hold” rating and issued a $33.00 price objective (up from $29.00) on shares of Urban Outfitters in a research note on Wednesday, September 28th. Vetr cut Urban Outfitters from a “buy” rating to a “hold” rating and set a $37.50 price target for the company. in a research report on Tuesday, September 6th. Goldman Sachs Group Inc. cut Urban Outfitters from a “buy” rating to a “neutral” rating and lifted their price target for the company from $33.00 to $35.00 in a research report on Monday, August 22nd. Royal Bank Of Canada lifted their price target on Urban Outfitters from $29.00 to $34.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 17th. Finally, Evercore ISI upgraded Urban Outfitters from a “hold” rating to a “buy” rating and lifted their price target for the company from $38.00 to $40.00 in a research report on Wednesday, August 17th. Twenty-two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Urban Outfitters has a consensus rating of “Hold” and an average price target of $35.78.
In other news, CFO Frank Conforti sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $37.42, for a total value of $149,680.00. Following the completion of the transaction, the chief financial officer now directly owns 4,000 shares in the company, valued at $149,680. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 24.30% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its position in shares of Urban Outfitters by 9.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,065,645 shares of the apparel retailer’s stock worth $441,804,000 after buying an additional 1,388,672 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Urban Outfitters by 5.4% in the second quarter. Vanguard Group Inc. now owns 8,084,293 shares of the apparel retailer’s stock worth $222,318,000 after buying an additional 412,250 shares during the last quarter. FMR LLC increased its position in shares of Urban Outfitters by 12.6% in the second quarter. FMR LLC now owns 5,023,957 shares of the apparel retailer’s stock worth $138,159,000 after buying an additional 563,409 shares during the last quarter. State Street Corp increased its position in shares of Urban Outfitters by 0.7% in the second quarter. State Street Corp now owns 3,682,523 shares of the apparel retailer’s stock worth $101,278,000 after buying an additional 25,135 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Urban Outfitters by 78.5% in the second quarter. AQR Capital Management LLC now owns 2,924,749 shares of the apparel retailer’s stock worth $80,430,000 after buying an additional 1,286,540 shares during the last quarter. Institutional investors own 72.05% of the company’s stock.
About Urban Outfitters
Urban Outfitters, Inc (Urban Outfitters) is a lifestyle retail company. The Company operates through two business segments: Retail and Wholesale. The Retail segment consists of the Company’s Urban Outfitters, Anthropologie Group, Free People and Terrain brands, whose merchandise is sold directly to the Company’s customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
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