Urban Outfitters, Inc. (NASDAQ:URBN) - Investment analysts at Jefferies Financial Group boosted their FY2022 earnings estimates for Urban Outfitters in a research note issued on Tuesday, November 23rd. Jefferies Financial Group analyst J. Stichter now forecasts that the apparel retailer will post earnings per share of $3.51 for the year, up from their prior estimate of $3.29. Jefferies Financial Group has a "Buy" rating and a $49.00 price objective on the stock. Jefferies Financial Group also issued estimates for Urban Outfitters' Q4 2022 earnings at $0.80 EPS. Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Monday, November 22nd. The apparel retailer reported $0.89 EPS for the quarter, beating the Zacks' consensus estimate of $0.84 by $0.05. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Urban Outfitters had a return on equity of 18.77% and a net margin of 6.91%. Urban Outfitters's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share.
Several other research firms have also recently weighed in on URBN. Zacks Investment Research cut Urban Outfitters from a "strong-buy" rating to a "sell" rating and set a $33.00 price target on the stock. in a report on Tuesday, October 26th. B. Riley upgraded Urban Outfitters from a "neutral" rating to a "buy" rating and upped their target price for the company from $36.00 to $45.00 in a report on Tuesday, November 16th. MKM Partners upped their target price on Urban Outfitters from $41.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, August 25th. BMO Capital Markets upped their target price on Urban Outfitters from $35.00 to $37.00 and gave the company a "market perform" rating in a report on Wednesday, August 25th. Finally, Wells Fargo & Company reduced their target price on Urban Outfitters from $40.00 to $36.00 and set an "equal weight" rating on the stock in a report on Friday, October 15th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Urban Outfitters currently has a consensus rating of "Hold" and a consensus target price of $39.82.
NASDAQ:URBN opened at $33.04 on Wednesday. The stock has a market cap of $3.25 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 0.59 and a beta of 1.57. The stock's 50-day moving average is $32.54 and its 200-day moving average is $35.49. Urban Outfitters has a 1-year low of $24.40 and a 1-year high of $42.10.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank raised its position in Urban Outfitters by 80.0% in the 3rd quarter. Comerica Bank now owns 69,375 shares of the apparel retailer's stock valued at $2,358,000 after buying an additional 30,823 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Urban Outfitters by 8.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,254,785 shares of the apparel retailer's stock valued at $37,255,000 after purchasing an additional 93,523 shares during the last quarter. Gyon Technologies Capital Management LP increased its position in shares of Urban Outfitters by 87.9% during the 3rd quarter. Gyon Technologies Capital Management LP now owns 12,809 shares of the apparel retailer's stock valued at $380,000 after purchasing an additional 5,993 shares during the last quarter. Easterly Investment Partners LLC purchased a new stake in shares of Urban Outfitters during the 3rd quarter valued at $5,426,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Urban Outfitters during the 3rd quarter valued at $205,000. 68.64% of the stock is owned by institutional investors and hedge funds.
In other news, CAO Azeez Hayne sold 1,100 shares of the company's stock in a transaction that occurred on Wednesday, November 3rd. The stock was sold at an average price of $35.00, for a total transaction of $38,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 27.50% of the stock is owned by corporate insiders.
About Urban Outfitters
Urban Outfitters, Inc engages in the operation of a general consumer product retail and wholesale business selling to customers through various channels including retail locations, websites, catalogs and mobile applications. It operates through the following segments: Retail, Wholesale and Subscription.
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