Urban Outfitters (NASDAQ:URBN) Hits New 52-Week High - Time to Buy?

Key Points

• Urban Outfitters shares reached a new 52-week high, trading as high as $85.48 and up 3.4% from the previous close. The stock remains above its 50-day and 200-day moving averages.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $89.75. Eight analysts rate the stock a Buy, while seven rate it a Hold.
• The company reported solid quarterly results, matching estimates at $1.72 EPS and exceeding revenue expectations with $1.66 billion, up 10.4% year over year. However, the CEO and CFO recently sold shares, while insiders collectively own 32.1% of the stock.

Urban Outfitters, Inc. (NASDAQ:URBN - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $85.48 and last traded at $85.5190, with a volume of 306,447 shares trading hands. The stock had previously closed at $82.69.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on URBN shares. Weiss Ratings raised shares of Urban Outfitters from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, September 22nd. Morgan Stanley reiterated an "overweight" rating and issued a $90.00 price objective on shares of Urban Outfitters in a research report on Thursday, August 27th. Wells Fargo & Company boosted their target price on shares of Urban Outfitters from $75.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, August 27th. Zacks Research lowered shares of Urban Outfitters from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 14th. Finally, Citigroup restated a "neutral" rating on shares of Urban Outfitters in a research report on Friday, August 28th. Eight investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $89.75.

Urban Outfitters Stock Up 3.4%

The company has a 50 day moving average of $77.82 and a two-hundred day moving average of $73.42. The firm has a market cap of $7.33 billion, a P/E ratio of 13.30, a PEG ratio of 1.28 and a beta of 1.24.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its earnings results on Thursday, August 27th. The apparel retailer reported $1.72 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.72. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. Urban Outfitters had a return on equity of 18.64% and a net margin of 8.79%. Urban Outfitters's revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.58 earnings per share. Research analysts expect that Urban Outfitters, Inc. will post 6.20 earnings per share for the current fiscal year.

Insider Activity at Urban Outfitters

In related news, CEO Tricia Smith sold 3,500 shares of the firm's stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $75.95, for a total transaction of $265,825.00. Following the completion of the sale, the chief executive officer directly owned 30,112 shares in the company, valued at approximately $2,287,006.40. This trade represents a 10.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Melanie Marein-Efron sold 5,700 shares of Urban Outfitters stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $80.75, for a total transaction of $460,275.00. Following the completion of the transaction, the chief financial officer owned 11,323 shares in the company, valued at approximately $914,332.25. This trade represents a 33.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 32.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Urban Outfitters

Several large investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in Urban Outfitters by 10.1% during the 2nd quarter. GAMMA Investing LLC now owns 2,049 shares of the apparel retailer's stock valued at $145,000 after acquiring an additional 188 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Urban Outfitters by 87.0% in the 2nd quarter. NewEdge Advisors LLC now owns 531 shares of the apparel retailer's stock valued at $38,000 after purchasing an additional 247 shares during the period. Concurrent Investment Advisors LLC lifted its position in shares of Urban Outfitters by 2.8% in the second quarter. Concurrent Investment Advisors LLC now owns 9,584 shares of the apparel retailer's stock worth $679,000 after purchasing an additional 263 shares in the last quarter. Allworth Financial LP lifted its position in shares of Urban Outfitters by 186.9% in the second quarter. Allworth Financial LP now owns 439 shares of the apparel retailer's stock worth $31,000 after purchasing an additional 286 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Urban Outfitters by 0.7% in the first quarter. Bessemer Group Inc. now owns 41,147 shares of the apparel retailer's stock worth $2,607,000 after purchasing an additional 296 shares in the last quarter. 77.61% of the stock is owned by institutional investors.

About Urban Outfitters

Urban Outfitters, Inc is a lifestyle retail company that offers apparel, accessories, beauty products, home furnishings, and other lifestyle merchandise through stores and digital channels. Its brands target a range of customer groups and aesthetic preferences, from contemporary fashion and eclectic home goods to activewear and rental apparel.

The company's portfolio includes Urban Outfitters, Anthropologie, Free People, FP Movement, Terrain, and Nuuly. Urban Outfitters focuses on fashion-forward apparel, accessories, and home products; Anthropologie offers women's clothing, accessories, beauty products, and home furnishings; and Free People and FP Movement specialize in women's apparel and activewear.

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