Urban Outfitters (NASDAQ:URBN) Shares Gap Up - Here's What Happened

Urban Outfitters, Inc. (NASDAQ:URBN - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $69.23, but opened at $71.75. Urban Outfitters shares last traded at $70.14, with a volume of 310,727 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on URBN shares. Citigroup decreased their price objective on Urban Outfitters from $65.00 to $54.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. UBS Group raised their price target on shares of Urban Outfitters from $54.00 to $75.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Baird R W upgraded shares of Urban Outfitters from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Telsey Advisory Group reiterated a "market perform" rating and issued a $72.00 price objective on shares of Urban Outfitters in a report on Wednesday. Finally, Wells Fargo & Company reissued an "equal weight" rating on shares of Urban Outfitters in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $74.09.

Urban Outfitters Price Performance

The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 1.02 and a beta of 1.45. The business has a fifty day moving average of $58.14 and a 200 day moving average of $55.25.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 EPS for the quarter, beating the consensus estimate of $0.81 by $0.35. The business 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 company's quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 EPS. On average, equities research analysts expect that Urban Outfitters, Inc. will post 3.91 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Tricia D. Smith sold 4,500 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $70.52, for a total transaction of $317,340.00. Following the sale, the chief executive officer now owns 13,477 shares of the company's stock, valued at approximately $950,398.04. This represents a 25.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Melanie Marein-Efron sold 20,000 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 5,036 shares in the company, valued at approximately $369,440.96. The trade was a 79.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,156 shares of company stock valued at $11,636,158 over the last 90 days. 31.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Urban Outfitters

Several large investors have recently bought and sold shares of URBN. Fuller & Thaler Asset Management Inc. grew its position in shares of Urban Outfitters by 183,272.0% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,094,731 shares of the apparel retailer's stock worth $60,079,000 after buying an additional 1,094,134 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of Urban Outfitters by 5,565.6% in the 4th quarter. Proficio Capital Partners LLC now owns 875,336 shares of the apparel retailer's stock valued at $48,038,000 after purchasing an additional 859,886 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Urban Outfitters in the 1st quarter valued at $43,769,000. Wedge Capital Management L L P NC purchased a new stake in shares of Urban Outfitters during the 1st quarter worth $40,544,000. Finally, Norges Bank acquired a new position in shares of Urban Outfitters during the fourth quarter worth $31,605,000. 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.