Urban Outfitters' (URBN) "Neutral" Rating Reaffirmed at Citigroup

Key Points

• Citigroup has restated Urban Outfitters' stock rating to "neutral" with a price target of $76.00, suggesting a potential upside of 0.89% from its previous close.
• Urban Outfitters reported quarterly earnings of $1.16 per share, exceeding estimates by $0.35, alongside a 10.7% year-over-year revenue increase to $1.33 billion.
• Insider trading activity included CEO Tricia D. Smith selling 4,500 shares at an average price of $70.52, resulting in a 25.03% decrease in her position.

Citigroup reissued their neutral rating on shares of Urban Outfitters (NASDAQ:URBN - Free Report) in a research note released on Wednesday, MarketBeat reports. They currently have a $76.00 target price on the apparel retailer's stock, up from their previous target price of $75.00.

A number of other research analysts have also recently weighed in on URBN. Morgan Stanley raised their price objective on shares of Urban Outfitters from $62.00 to $77.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Robert W. Baird raised Urban Outfitters from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $75.00 to $90.00 in a research report on Wednesday, June 11th. Barclays upped their price objective on Urban Outfitters from $59.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. lifted their price objective on Urban Outfitters from $78.00 to $88.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Finally, Wells Fargo & Company reissued an "equal weight" rating on shares of Urban Outfitters in a research note on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $77.27.

Urban Outfitters Stock Performance

Urban Outfitters stock traded up $3.09 during mid-day trading on Wednesday, reaching $76.98. 1,486,021 shares of the company were exchanged, compared to its average volume of 1,609,439. The firm's 50-day simple moving average is $73.71 and its two-hundred day simple moving average is $62.31. Urban Outfitters has a twelve month low of $33.86 and a twelve month high of $80.71. The firm has a market cap of $6.90 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.44.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 EPS for the quarter, topping the consensus estimate of $0.81 by $0.35. The business had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.29 billion. Urban Outfitters had a return on equity of 17.98% and a net margin of 7.91%.The company's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 earnings per share. As a group, equities research analysts anticipate that Urban Outfitters will post 3.91 EPS for the current year.

Insider Transactions at Urban Outfitters

In other news, CFO Melanie Marein-Efron sold 20,000 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $73.36, for a total transaction of $1,467,200.00. Following the completion of the sale, the chief financial officer directly owned 5,036 shares in the company, valued at $369,440.96. This represents a 79.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Harry S. Cherken, Jr. sold 35,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $74.15, for a total transaction of $2,595,250.00. Following the completion of the transaction, the director owned 480,296 shares in the company, valued at $35,613,948.40. The trade was a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,156 shares of company stock worth $11,636,158 in the last quarter. 31.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Urban Outfitters

Hedge funds have recently made changes to their positions in the company. American Century Companies Inc. boosted its stake in shares of Urban Outfitters by 0.7% in the second quarter. American Century Companies Inc. now owns 2,338,215 shares of the apparel retailer's stock valued at $169,614,000 after purchasing an additional 15,689 shares during the period. Junto Capital Management LP lifted its holdings in Urban Outfitters by 16.5% in the 1st quarter. Junto Capital Management LP now owns 1,728,447 shares of the apparel retailer's stock worth $90,571,000 after buying an additional 244,801 shares in the last quarter. Geode Capital Management LLC boosted its position in Urban Outfitters by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,525,150 shares of the apparel retailer's stock valued at $110,646,000 after buying an additional 12,965 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of Urban Outfitters by 27.6% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,397,175 shares of the apparel retailer's stock valued at $73,212,000 after acquiring an additional 302,444 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in shares of Urban Outfitters by 59.1% in the second quarter. Qube Research & Technologies Ltd now owns 1,287,096 shares of the apparel retailer's stock worth $93,366,000 after acquiring an additional 477,909 shares in the last quarter. Hedge funds and other institutional investors own 77.61% of the company's stock.

Urban Outfitters Company Profile

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.