Urban Outfitters, Inc. (NASDAQ:URBN – Get Rating) – Research analysts at Jefferies Financial Group raised their FY2023 earnings per share (EPS) estimates for shares of Urban Outfitters in a note issued to investors on Tuesday, November 22nd. Jefferies Financial Group analyst C. Tarlowe now expects that the apparel retailer will earn $1.84 per share for the year, up from their previous forecast of $1.62. The consensus estimate for Urban Outfitters’ current full-year earnings is $1.71 per share. Jefferies Financial Group also issued estimates for Urban Outfitters’ Q4 2023 earnings at $0.48 EPS, Q3 2024 earnings at $0.52 EPS, Q4 2024 earnings at $0.54 EPS and FY2024 earnings at $2.22 EPS.
Other equities research analysts have also recently issued research reports about the stock. Citigroup increased their target price on shares of Urban Outfitters from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday. BMO Capital Markets lifted their price target on shares of Urban Outfitters from $19.00 to $24.00 and gave the stock a “market perform” rating in a research note on Tuesday. Telsey Advisory Group raised their price objective on shares of Urban Outfitters from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Tuesday. StockNews.com initiated coverage on shares of Urban Outfitters in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Bank of America increased their price target on shares of Urban Outfitters from $25.00 to $30.00 in a research report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Urban Outfitters has a consensus rating of “Hold” and a consensus target price of $26.08.
Urban Outfitters Price Performance
Urban Outfitters (NASDAQ:URBN – Get Rating) last posted its quarterly earnings data on Monday, November 21st. The apparel retailer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.01). The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. Urban Outfitters had a net margin of 3.57% and a return on equity of 9.83%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.89 earnings per share.
Insider Buying and Selling at Urban Outfitters
In other news, insider Azeez Hayne sold 4,095 shares of Urban Outfitters stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $25.02, for a total value of $102,456.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Urban Outfitters news, insider Azeez Hayne sold 4,095 shares of the stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $25.02, for a total transaction of $102,456.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Frank Conforti sold 10,000 shares of the business’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the completion of the transaction, the chief operating officer now directly owns 25,960 shares of the company’s stock, valued at $649,000. The disclosure for this sale can be found here. Company insiders own 27.50% of the company’s stock.
Institutional Investors Weigh In On Urban Outfitters
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Shapiro Capital Management LLC increased its position in Urban Outfitters by 4.6% in the first quarter. Shapiro Capital Management LLC now owns 9,472,995 shares of the apparel retailer’s stock worth $237,867,000 after purchasing an additional 420,001 shares during the period. Turtle Creek Asset Management Inc. boosted its stake in Urban Outfitters by 1.0% in the third quarter. Turtle Creek Asset Management Inc. now owns 7,264,757 shares of the apparel retailer’s stock valued at $142,752,000 after acquiring an additional 69,850 shares during the last quarter. Vanguard Group Inc. grew its holdings in Urban Outfitters by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 6,641,142 shares of the apparel retailer’s stock worth $130,499,000 after acquiring an additional 376,130 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Urban Outfitters by 16.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,807,788 shares of the apparel retailer’s stock valued at $114,124,000 after acquiring an additional 830,302 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Urban Outfitters by 1.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,445,032 shares of the apparel retailer’s stock valued at $106,995,000 after purchasing an additional 73,048 shares during the last quarter. Institutional investors own 76.14% 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 Nully. 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 casual apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.
- Get a free copy of the StockNews.com research report on Urban Outfitters (URBN)
- Microsoft Shares: Is it Time to Back Up the Truck?
- Institutional Support for Analog Devices Remains High
- Is the 60/40 Portfolio Mix Still in Vogue?
- Three CBD Stocks to Dominate a Budding Industry
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
Receive News & Ratings for Urban Outfitters Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Urban Outfitters and related companies with MarketBeat.com's FREE daily email newsletter.