Bayforest Capital Ltd Invests $442,000 in Urban Outfitters, Inc. $URBN

Key Points

• Bayforest Capital Ltd has invested approximately $442,000 in Urban Outfitters, acquiring 8,431 shares during the first quarter.
• Urban Outfitters reported a quarterly earnings per share (EPS) of $1.58, exceeding analyst expectations of $1.44 and marking an 11.3% revenue increase year-over-year.
• As of now, Urban Outfitters has a market capitalization of $6.46 billion, with institutional investors owning 77.61% of the company's stock.

Bayforest Capital Ltd purchased a new stake in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,431 shares of the apparel retailer's stock, valued at approximately $442,000.

A number of other institutional investors have also added to or reduced their stakes in URBN. SG Americas Securities LLC grew its position in Urban Outfitters by 313.4% during the 1st quarter. SG Americas Securities LLC now owns 23,342 shares of the apparel retailer's stock worth $1,223,000 after acquiring an additional 17,696 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in Urban Outfitters during the 1st quarter worth about $52,000. HighTower Advisors LLC bought a new stake in Urban Outfitters in the first quarter worth approximately $241,000. Public Employees Retirement System of Ohio boosted its stake in Urban Outfitters by 1,778.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 34,588 shares of the apparel retailer's stock worth $1,898,000 after acquiring an additional 32,747 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of Urban Outfitters during the 1st quarter worth about $1,094,000. 77.61% of the stock is currently owned by institutional investors and hedge funds.

Urban Outfitters Trading Down 1.3%

Shares of NASDAQ URBN opened at $72.09 on Wednesday. The firm has a fifty day simple moving average of $74.11 and a two-hundred day simple moving average of $63.63. The firm has a market capitalization of $6.46 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 1.17 and a beta of 1.29. Urban Outfitters, Inc. has a 12 month low of $33.86 and a 12 month high of $80.71.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The apparel retailer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.14. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.43%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the business earned $1.24 EPS. Urban Outfitters's quarterly revenue was up 11.3% compared to the same quarter last year. On average, sell-side analysts predict that Urban Outfitters, Inc. will post 3.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

URBN has been the subject of several analyst reports. Jefferies Financial Group upgraded shares of Urban Outfitters from an "underperform" rating to a "hold" rating and increased their target price for the company from $50.00 to $70.00 in a report on Friday, June 6th. Citigroup restated a "neutral" rating and issued a $76.00 price objective (up previously from $75.00) on shares of Urban Outfitters in a research note on Wednesday, August 20th. JPMorgan Chase & Co. raised their price objective on shares of Urban Outfitters from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. BMO Capital Markets set a $76.00 price objective on Urban Outfitters and gave the company a "market perform" rating in a research note on Thursday, May 22nd. Finally, Bank of America raised their target price on Urban Outfitters from $90.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Urban Outfitters presently has a consensus rating of "Hold" and a consensus target price of $81.91.

About Urban Outfitters

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.

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