Urban Outfitters (NASDAQ:URBN) Issues Earnings Results

Key Points

• Urban Outfitters reported quarterly earnings of $1.72 per share, matching analysts’ consensus estimate. The company posted a 7.48% net margin and 18.92% return on equity.
• Shares rose 9.5% to $82.95 in Wednesday trading, near the stock’s 52-week high of $84.35, with trading volume well above average.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $89.73. Institutional investors own 77.61% of the company’s outstanding shares.

Urban Outfitters (NASDAQ:URBN - Get Free Report) posted its quarterly earnings data on Wednesday. The apparel retailer reported $1.72 earnings per share for the quarter, hitting analysts' consensus estimates of $1.72, Zacks reports. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%.

Urban Outfitters Trading Up 9.5%

NASDAQ URBN traded up $7.17 on Wednesday, reaching $82.95. 3,567,389 shares of the company were exchanged, compared to its average volume of 1,414,301. The business's fifty day moving average price is $73.69 and its 200 day moving average price is $70.64. The stock has a market capitalization of $7.10 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23. Urban Outfitters has a fifty-two week low of $59.53 and a fifty-two week high of $84.35.

Analyst Upgrades and Downgrades

URBN has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Urban Outfitters from a "hold" rating to a "buy" rating in a research report on Sunday. Barclays decreased their target price on Urban Outfitters from $102.00 to $100.00 and set an "overweight" rating on the stock in a research report on Friday, May 22nd. JPMorgan Chase & Co. raised their price objective on Urban Outfitters from $97.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, August 18th. Weiss Ratings raised shares of Urban Outfitters from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $89.00 target price on shares of Urban Outfitters in a research report on Monday, July 6th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $89.73.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Marex Group plc purchased a new position in shares of Urban Outfitters during the 4th quarter worth approximately $212,000. O Shaughnessy Asset Management LLC purchased a new stake in Urban Outfitters in the fourth quarter valued at approximately $232,000. Virtus Advisers LLC raised its position in Urban Outfitters by 262.9% in the third quarter. Virtus Advisers LLC now owns 3,168 shares of the apparel retailer's stock valued at $226,000 after purchasing an additional 2,295 shares during the period. Prelude Capital Management LLC acquired a new position in Urban Outfitters during the third quarter worth $202,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Urban Outfitters during the third quarter worth $228,000. Institutional investors and hedge funds own 77.61% of the company's stock.

Urban Outfitters Company Profile

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.

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