Urban Outfitters (NASDAQ:URBN) Sees Strong Trading Volume on Better-Than-Expected Earnings

Urban Outfitters, Inc. (NASDAQ:URBN) shares saw unusually-strong trading volume on Wednesday following a stronger than expected earnings report. Approximately 840,202 shares were traded during mid-day trading, a decline of 50% from the previous session’s volume of 1,693,896 shares.The stock last traded at $40.39 and had previously closed at $41.32.

The apparel retailer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.49 by $0.20. Urban Outfitters had a net margin of 5.66% and a return on equity of 15.59%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the firm posted $0.56 EPS. Urban Outfitters’s revenue was up 8.1% on a year-over-year basis.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Urban Outfitters from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday. Robert W. Baird raised their price target on shares of Urban Outfitters from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday. UBS Group raised their price target on shares of Urban Outfitters from $42.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. BMO Capital Markets raised their price target on shares of Urban Outfitters from $38.00 to $42.00 and gave the stock a “market perform” rating in a research report on Thursday, February 29th. Finally, Telsey Advisory Group lifted their target price on shares of Urban Outfitters from $48.00 to $49.00 and gave the company an “outperform” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $41.67.

Insider Activity at Urban Outfitters

In related news, CEO Tricia D. Smith sold 6,250 shares of Urban Outfitters stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $40.74, for a total value of $254,625.00. Following the sale, the chief executive officer now owns 6,353 shares of the company’s stock, valued at approximately $258,821.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Tricia D. Smith sold 6,250 shares of Urban Outfitters stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $40.74, for a total value of $254,625.00. Following the sale, the chief executive officer now owns 6,353 shares of the company’s stock, valued at approximately $258,821.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Melanie Marein-Efron sold 6,000 shares of Urban Outfitters stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $40.72, for a total transaction of $244,320.00. Following the completion of the sale, the chief financial officer now directly owns 908 shares in the company, valued at approximately $36,973.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,473 shares of company stock valued at $757,483. 31.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Urban Outfitters

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Woodson Capital Management LP acquired a new stake in Urban Outfitters during the 1st quarter worth $27,233,000. Tidal Investments LLC boosted its stake in Urban Outfitters by 5.8% during the 1st quarter. Tidal Investments LLC now owns 18,575 shares of the apparel retailer’s stock worth $807,000 after purchasing an additional 1,016 shares during the last quarter. Interval Partners LP acquired a new stake in Urban Outfitters during the 1st quarter worth $2,992,000. Caxton Associates LP acquired a new stake in Urban Outfitters during the 1st quarter worth $680,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Urban Outfitters by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,202 shares of the apparel retailer’s stock worth $1,442,000 after purchasing an additional 2,307 shares during the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.

Urban Outfitters Stock Performance

The firm’s 50-day moving average price is $40.74 and its two-hundred day moving average price is $39.27. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.94 and a beta of 1.55.

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.