Urban Outfitters (NASDAQ:URBN) Shares Gap Down to $38.02

Urban Outfitters, Inc. (NASDAQ:URBN - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $38.02, but opened at $36.66. Urban Outfitters shares last traded at $36.89, with a volume of 546,871 shares traded.

Wall Street Analyst Weigh In

URBN has been the topic of several recent analyst reports. StockNews.com lowered Urban Outfitters from a "buy" rating to a "hold" rating in a report on Friday, March 1st. BMO Capital Markets upped their price target on Urban Outfitters from $38.00 to $42.00 and gave the company a "market perform" rating in a report on Thursday, February 29th. JPMorgan Chase & Co. cut their price objective on shares of Urban Outfitters from $46.00 to $44.00 and set a "neutral" rating on the stock in a report on Wednesday, February 28th. Telsey Advisory Group upped their target price on shares of Urban Outfitters from $44.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, February 28th. Finally, UBS Group boosted their price target on shares of Urban Outfitters from $41.00 to $42.00 and gave the company a "neutral" rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Urban Outfitters presently has an average rating of "Hold" and a consensus price target of $39.67.

Urban Outfitters Stock Down 2.5 %

The stock has a fifty day moving average price of $42.13 and a 200-day moving average price of $38.06. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 0.60 and a beta of 1.53.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The apparel retailer reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.04). The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. Urban Outfitters had a net margin of 5.58% and a return on equity of 15.32%. The business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 earnings per share. As a group, research analysts expect that Urban Outfitters, Inc. will post 3.53 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Azeez Hayne sold 2,878 shares of the company's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $40.75, for a total transaction of $117,278.50. Following the transaction, the insider now directly owns 2,878 shares of the company's stock, valued at approximately $117,278.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Azeez Hayne sold 2,878 shares of the company's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $40.75, for a total value of $117,278.50. Following the sale, the insider now owns 2,878 shares in the company, valued at approximately $117,278.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Melanie Marein-Efron sold 3,345 shares of the firm's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $42.23, for a total value of $141,259.35. Following the completion of the transaction, the chief financial officer now owns 6,908 shares of the company's stock, valued at approximately $291,724.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,473 shares of company stock worth $757,483. 31.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its position in Urban Outfitters by 0.7% during the second quarter. The Manufacturers Life Insurance Company now owns 42,714 shares of the apparel retailer's stock worth $1,415,000 after acquiring an additional 277 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of Urban Outfitters by 6.7% in the second quarter. Ameritas Investment Partners Inc. now owns 5,274 shares of the apparel retailer's stock valued at $175,000 after purchasing an additional 329 shares during the period. Commonwealth Equity Services LLC increased its stake in Urban Outfitters by 3.7% in the second quarter. Commonwealth Equity Services LLC now owns 10,314 shares of the apparel retailer's stock valued at $342,000 after purchasing an additional 367 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Urban Outfitters by 20.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,374 shares of the apparel retailer's stock worth $57,000 after buying an additional 400 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Urban Outfitters by 89.7% during the 4th quarter. Parallel Advisors LLC now owns 882 shares of the apparel retailer's stock worth $31,000 after acquiring an additional 417 shares during the period. Institutional investors and hedge funds own 77.61% of the company's stock.

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 Nully. 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.