Urban Outfitters, Inc. $URBN Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers sold 5,943 shares of Urban Outfitters in the first quarter, reducing its stake by 3.4% to approximately 0.18% of the company.
• According to analysts, Urban Outfitters has a consensus target price of $81.91 with several upgrades, including a boost from $90.00 to $93.00 by Bank of America.
• Urban Outfitters reported a strong quarterly performance with an earnings per share of $1.58, exceeding expectations, and revenue of $1.50 billion, an increase of 11.3% year-over-year.

Rhumbline Advisers decreased its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 169,647 shares of the apparel retailer's stock after selling 5,943 shares during the quarter. Rhumbline Advisers owned about 0.18% of Urban Outfitters worth $8,889,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of URBN. BNP Paribas Financial Markets boosted its holdings in shares of Urban Outfitters by 24.6% during the fourth quarter. BNP Paribas Financial Markets now owns 91,627 shares of the apparel retailer's stock valued at $5,028,000 after acquiring an additional 18,074 shares during the period. Cetera Investment Advisers raised its stake in shares of Urban Outfitters by 15.0% during the fourth quarter. Cetera Investment Advisers now owns 15,435 shares of the apparel retailer's stock valued at $847,000 after purchasing an additional 2,009 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Urban Outfitters during the fourth quarter valued at about $240,000. Deutsche Bank AG raised its stake in shares of Urban Outfitters by 280.6% during the fourth quarter. Deutsche Bank AG now owns 140,466 shares of the apparel retailer's stock valued at $7,709,000 after purchasing an additional 103,564 shares in the last quarter. Finally, Focus Partners Wealth bought a new stake in shares of Urban Outfitters during the fourth quarter valued at about $227,000. Institutional investors and hedge funds own 77.61% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Bank of America boosted their price target on shares of Urban Outfitters from $90.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. BMO Capital Markets set a $76.00 price target on shares of Urban Outfitters and gave the stock a "market perform" rating in a research report on Thursday, May 22nd. Citigroup restated a "neutral" rating and set a $76.00 price objective (up previously from $75.00) on shares of Urban Outfitters in a report on Wednesday, August 20th. Wells Fargo & Company boosted their price objective on Urban Outfitters from $70.00 to $75.00 and gave the stock an "equal weight" rating in a report on Thursday, August 28th. Finally, JPMorgan Chase & Co. boosted their price objective on Urban Outfitters from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Urban Outfitters presently has an average rating of "Hold" and a consensus target price of $81.91.

Urban Outfitters Price Performance

NASDAQ:URBN opened at $70.54 on Thursday. Urban Outfitters, Inc. has a fifty-two week low of $33.86 and a fifty-two week high of $80.71. The stock's 50-day moving average is $74.05 and its two-hundred day moving average is $63.68. The stock has a market cap of $6.32 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.16 and a beta of 1.29.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 27th. The apparel retailer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.44 by $0.14. The business had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.48 billion. Urban Outfitters had a return on equity of 18.43% and a net margin of 8.15%.The firm's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 EPS. On average, equities research analysts anticipate that Urban Outfitters, Inc. will post 3.91 earnings per share for the current year.

Urban Outfitters 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.

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