Urban Outfitters (NASDAQ:URBN) Reaches New 52-Week High After Earnings Beat

Urban Outfitters, Inc. (NASDAQ:URBN - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $73.68 and last traded at $72.27, with a volume of 3207571 shares. The stock had previously closed at $59.60.

The apparel retailer reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.35. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.29 billion. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS.

Analyst Ratings Changes

A number of analysts recently commented on URBN shares. JPMorgan Chase & Co. raised shares of Urban Outfitters from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $63.00 to $78.00 in a research note on Thursday. Telsey Advisory Group lifted their price objective on Urban Outfitters from $59.00 to $72.00 and gave the company a "market perform" rating in a research note on Thursday. Citigroup cut their price target on shares of Urban Outfitters from $65.00 to $54.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley increased their price objective on shares of Urban Outfitters from $62.00 to $77.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Wells Fargo & Company raised their price objective on Urban Outfitters from $55.00 to $70.00 and gave the company an "equal weight" rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $65.00.

Insider Buying and Selling

In other news, Director Wesley S. Mcdonald sold 8,300 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $58.44, for a total transaction of $485,052.00. Following the completion of the transaction, the director now owns 15,450 shares in the company, valued at approximately $902,898. This represents a 34.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tricia D. Smith sold 10,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $53.94, for a total transaction of $539,400.00. Following the completion of the sale, the chief executive officer now directly owns 12,601 shares in the company, valued at approximately $679,697.94. This trade represents a 44.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,976 shares of company stock worth $1,663,713 over the last ninety days. 31.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Urban Outfitters

A number of hedge funds have recently made changes to their positions in URBN. Whipplewood Advisors LLC grew its stake in shares of Urban Outfitters by 2,893.8% in the first quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer's stock worth $25,000 after purchasing an additional 463 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Urban Outfitters by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 525 shares of the apparel retailer's stock worth $29,000 after purchasing an additional 200 shares during the period. Federated Hermes Inc. grew its position in Urban Outfitters by 17,175.0% in the 1st quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer's stock valued at $36,000 after buying an additional 687 shares in the last quarter. Virtus Advisers LLC acquired a new position in Urban Outfitters during the 1st quarter valued at about $46,000. Finally, Exchange Traded Concepts LLC acquired a new position in Urban Outfitters during the 1st quarter valued at about $52,000. Institutional investors own 77.61% of the company's stock.

Urban Outfitters Price Performance

The company has a fifty day moving average price of $51.88 and a two-hundred day moving average price of $51.75. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 1.02 and a beta of 1.33.

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 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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