Urban Outfitters (NASDAQ:URBN) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Urban Outfitters passed above its 200-day moving average (200‑day MA $69.74), trading as high as $74.38 and last at $73.64 on volume of 855,611, signaling a potential technical breakout.
• The company beat quarterly estimates with EPS $1.43 versus $1.24 and revenue $1.80B (up 10.1% YoY); analysts are mixed with a consensus "Hold" rating and an average price target of $86.25.
• Insiders sold stock recently (CEO Richard Hayne sold 10,667 shares and Margaret Hayne sold 9,333), with insiders selling 133,517 shares (~$9.48M) in the last three months despite insiders owning 32.10% and institutions owning 77.61% of the company.

Urban Outfitters, Inc. (NASDAQ:URBN - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $69.74 and traded as high as $74.38. Urban Outfitters shares last traded at $73.64, with a volume of 855,611 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have commented on URBN shares. Wells Fargo & Company dropped their target price on Urban Outfitters from $80.00 to $75.00 and set an "equal weight" rating for the company in a research report on Thursday, February 26th. UBS Group reiterated a "neutral" rating on shares of Urban Outfitters in a research report on Tuesday, January 13th. Weiss Ratings reiterated a "buy (b)" rating on shares of Urban Outfitters in a research report on Monday, December 29th. JPMorgan Chase & Co. dropped their target price on Urban Outfitters from $96.00 to $94.00 and set an "overweight" rating for the company in a research report on Tuesday, January 20th. Finally, Barclays increased their target price on Urban Outfitters from $98.00 to $102.00 and gave the company an "overweight" rating in a research report on Friday, January 16th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Urban Outfitters presently has a consensus rating of "Hold" and an average price target of $86.25.

Urban Outfitters Stock Down 0.3%

The company has a market cap of $6.30 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.42 and a beta of 1.20. The firm has a 50 day moving average price of $66.68 and a two-hundred day moving average price of $69.74.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The apparel retailer reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.19. The company had revenue of $1.80 billion during the quarter, compared to analysts' expectations of $1.79 billion. Urban Outfitters had a return on equity of 18.96% and a net margin of 7.54%.The business's quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.04 earnings per share. On average, equities analysts expect that Urban Outfitters, Inc. will post 5.84 earnings per share for the current year.

Insider Activity

In other news, insider Margaret Hayne sold 9,333 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $70.50, for a total value of $657,976.50. Following the completion of the sale, the insider owned 1,933,859 shares of the company's stock, valued at approximately $136,337,059.50. This represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard A. Hayne sold 10,667 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $70.50, for a total value of $752,023.50. Following the completion of the sale, the chief executive officer directly owned 17,449,385 shares of the company's stock, valued at approximately $1,230,181,642.50. The trade was a 0.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 133,517 shares of company stock valued at $9,482,730. Insiders own 32.10% of the company's stock.

Institutional Investors Weigh In On Urban Outfitters

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in shares of Urban Outfitters by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,975,316 shares of the apparel retailer's stock valued at $299,183,000 after buying an additional 299,380 shares during the period. American Century Companies Inc. increased its stake in shares of Urban Outfitters by 23.1% in the third quarter. American Century Companies Inc. now owns 2,879,092 shares of the apparel retailer's stock valued at $205,654,000 after buying an additional 540,877 shares during the period. Fisher Asset Management LLC grew its stake in Urban Outfitters by 2.8% during the third quarter. Fisher Asset Management LLC now owns 1,847,922 shares of the apparel retailer's stock worth $131,997,000 after purchasing an additional 50,837 shares during the period. Abrams Bison Investments LLC acquired a new stake in Urban Outfitters during the fourth quarter worth approximately $127,114,000. Finally, Geode Capital Management LLC grew its stake in Urban Outfitters by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,507,027 shares of the apparel retailer's stock worth $113,434,000 after purchasing an additional 35,244 shares during the period. Institutional investors and hedge funds own 77.61% of the company's stock.

About Urban Outfitters

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city's historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.

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