Urban Outfitters, Inc. (NASDAQ:URBN) – Research analysts at B. Riley upped their Q2 2022 earnings per share (EPS) estimates for shares of Urban Outfitters in a research note issued on Monday, April 12th. B. Riley analyst S. Anderson now forecasts that the apparel retailer will earn $0.45 per share for the quarter, up from their prior forecast of $0.41. B. Riley currently has a “Neutral” rating and a $36.00 target price on the stock. B. Riley also issued estimates for Urban Outfitters’ Q3 2022 earnings at $0.64 EPS, Q4 2022 earnings at $0.50 EPS, FY2022 earnings at $1.71 EPS and FY2023 earnings at $2.14 EPS.
Other research analysts have also issued research reports about the stock. Telsey Advisory Group boosted their target price on shares of Urban Outfitters from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reduced their price target on shares of Urban Outfitters from $33.00 to $31.00 in a report on Wednesday, January 13th. Morgan Stanley boosted their price objective on shares of Urban Outfitters from $37.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday. Royal Bank of Canada upped their price objective on shares of Urban Outfitters from $28.00 to $30.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 10th. Finally, Smith Barney Citigroup decreased their target price on Urban Outfitters from $33.00 to $31.00 in a research report on Wednesday, January 13th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $31.95.
Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings results on Monday, March 1st. The apparel retailer reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. Urban Outfitters had a negative net margin of 0.22% and a positive return on equity of 2.30%. Urban Outfitters’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 EPS.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in shares of Urban Outfitters during the 1st quarter worth approximately $34,000. Louisiana State Employees Retirement System boosted its stake in Urban Outfitters by 4.1% in the first quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the apparel retailer’s stock valued at $662,000 after acquiring an additional 700 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in Urban Outfitters by 999.3% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 297,952 shares of the apparel retailer’s stock worth $7,627,000 after acquiring an additional 270,847 shares during the period. Norges Bank bought a new stake in shares of Urban Outfitters during the 4th quarter valued at $23,053,000. Finally, UBS Asset Management Americas Inc. raised its position in shares of Urban Outfitters by 15.6% during the 4th quarter. UBS Asset Management Americas Inc. now owns 100,781 shares of the apparel retailer’s stock valued at $2,580,000 after acquiring an additional 13,589 shares during the last quarter. 69.79% of the stock is currently owned by institutional investors.
In related news, COO Frank Conforti sold 18,000 shares of the firm’s stock in a transaction dated Tuesday, April 13th. The stock was sold at an average price of $38.00, for a total value of $684,000.00. Following the transaction, the chief operating officer now owns 8,833 shares in the company, valued at $335,654. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Melanie Marein-Efron sold 3,962 shares of Urban Outfitters stock in a transaction dated Wednesday, April 14th. The stock was sold at an average price of $37.43, for a total value of $148,297.66. Following the completion of the sale, the chief financial officer now owns 5,093 shares of the company’s stock, valued at $190,630.99. The disclosure for this sale can be found here. 30.50% of the stock is owned by corporate insiders.
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 Subscription. 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.
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