Urban Outfitters (NASDAQ:URBN) Announces Quarterly Earnings Results, Beats Estimates By $0.18 EPS

Urban Outfitters (NASDAQ:URBN) announced its earnings results on Wednesday. The apparel retailer reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.18, Zacks reports. Urban Outfitters had a return on equity of 18.96% and a net margin of 7.54%.

Urban Outfitters Stock Up 4.1%

Shares of URBN traded up $2.79 during mid-day trading on Wednesday, hitting $71.67. 2,599,996 shares of the company’s stock were exchanged, compared to its average volume of 1,581,526. The firm has a fifty day moving average of $67.36 and a two-hundred day moving average of $69.91. Urban Outfitters has a twelve month low of $59.15 and a twelve month high of $84.35. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.34 and a beta of 1.23.

Insider Buying and Selling at Urban Outfitters

In related news, insider Margaret Hayne sold 9,333 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $70.50, for a total value of $657,976.50. Following the transaction, the insider directly owned 1,933,859 shares of the company’s stock, valued at approximately $136,337,059.50. This trade represents a 0.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard A. Hayne sold 10,667 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $70.50, for a total value of $752,023.50. Following the completion of the transaction, the chief executive officer directly owned 17,449,385 shares in the company, valued at $1,230,181,642.50. The trade was a 0.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 24,682 shares of company stock worth $1,738,208. 32.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in Urban Outfitters by 8.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,975,316 shares of the apparel retailer’s stock worth $299,183,000 after acquiring an additional 299,380 shares during the last quarter. Abrams Bison Investments LLC acquired a new position in shares of Urban Outfitters during the fourth quarter worth approximately $127,114,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Urban Outfitters by 9.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 791,676 shares of the apparel retailer’s stock worth $59,582,000 after buying an additional 67,777 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Urban Outfitters by 5,360.2% in the third quarter. Balyasny Asset Management L.P. now owns 618,152 shares of the apparel retailer’s stock valued at $44,155,000 after acquiring an additional 606,831 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Urban Outfitters by 16.8% in the fourth quarter. Invesco Ltd. now owns 568,906 shares of the apparel retailer’s stock worth $42,816,000 after acquiring an additional 81,804 shares during the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on URBN. Wells Fargo & Company decreased their target price on Urban Outfitters from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. JPMorgan Chase & Co. decreased their price target on shares of Urban Outfitters from $96.00 to $94.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th. Wall Street Zen lowered shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $98.00 price target on shares of Urban Outfitters in a research report on Thursday, February 26th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Urban Outfitters has a consensus rating of “Hold” and a consensus price target of $86.25.

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.