Urban Outfitters (NASDAQ:URBN) Shares Break Above 200 Day Moving Average - Here's Why

Key Points

• Urban Outfitters shares moved above their 200-day moving average, reaching $76.89 and last trading at $76.38, compared with a 200-day average of $72.45.
• The company reported quarterly revenue of $1.66 billion, up 10.4% year over year, while earnings of $1.72 per share matched analyst estimates.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $89.75, although company executives recently sold shares.

Urban Outfitters, Inc. (NASDAQ:URBN - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $72.45 and traded as high as $76.89. Urban Outfitters shares last traded at $76.38, with a volume of 1,199,355 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently commented on URBN. Barclays upped their target price on Urban Outfitters from $100.00 to $102.00 and gave the company an "overweight" rating in a report on Thursday, August 27th. Citigroup reiterated a "neutral" rating on shares of Urban Outfitters in a report on Friday, August 28th. Wells Fargo & Company boosted their price objective on shares of Urban Outfitters from $75.00 to $80.00 and gave the company an "equal weight" rating in a research report on Thursday, August 27th. Zacks Research lowered shares of Urban Outfitters from a "strong-buy" rating to a "hold" rating in a report on Friday, August 14th. Finally, BMO Capital Markets started coverage on shares of Urban Outfitters in a research report on Tuesday, September 8th. They issued a "market perform" rating and a $80.00 target price for the company. Eight equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $89.75.

Urban Outfitters Stock Performance

The stock has a market cap of $6.54 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 1.18 and a beta of 1.26. The firm has a 50-day moving average price of $76.68 and a 200-day moving average price of $72.45.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its earnings results on Thursday, August 27th. The apparel retailer reported $1.72 EPS for the quarter, meeting analysts' consensus estimates of $1.72. Urban Outfitters had a return on equity of 18.64% and a net margin of 8.79%.The company had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter last year, the business posted $1.58 EPS. The firm's revenue for the quarter was up 10.4% compared to the same quarter last year. On average, research analysts predict that Urban Outfitters, Inc. will post 6.2 earnings per share for the current year.

Insider Buying and Selling at Urban Outfitters

In other Urban Outfitters news, CEO Tricia Smith sold 3,500 shares of the firm's stock in a transaction on Friday, September 18th. The stock was sold at an average price of $75.95, for a total transaction of $265,825.00. Following the completion of the transaction, the chief executive officer owned 30,112 shares of the company's stock, 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 can be accessed through this link. Also, CFO Melanie Marein-Efron sold 5,700 shares of the business's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $80.75, for a total transaction of $460,275.00. Following the sale, 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. The disclosure for this sale is available in the SEC filing. Company insiders own 32.10% of the company's stock.

Institutional Investors Weigh In On Urban Outfitters

Several hedge funds have recently bought and sold shares of URBN. QRG Capital Management Inc. increased its stake in shares of Urban Outfitters by 25.9% during the second quarter. QRG Capital Management Inc. now owns 13,796 shares of the apparel retailer's stock valued at $978,000 after purchasing an additional 2,839 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in shares of Urban Outfitters by 211.4% during the second quarter. Engineers Gate Manager LP now owns 428,227 shares of the apparel retailer's stock valued at $30,344,000 after purchasing an additional 290,698 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Urban Outfitters by 87.0% during the second 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 last quarter. Allworth Financial LP boosted its position in shares of Urban Outfitters by 186.9% in the 2nd 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, Nykredit A S bought a new stake in shares of Urban Outfitters in the 2nd quarter worth approximately $118,000. Institutional investors own 77.61% of the company's stock.

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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