Urban Outfitters (NASDAQ:URBN) Announces Quarterly Earnings Results

Posted by Scott Davis on May 25th, 2023

Urban Outfitters (NASDAQ:URBN – Get Rating) issued its quarterly earnings results on Tuesday. The apparel retailer reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.20, Briefing.com reports. Urban Outfitters had a return on equity of 10.61% and a net margin of 3.73%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the firm posted $0.33 EPS. Urban Outfitters’s revenue was up 5.7% on a year-over-year basis.

Urban Outfitters Trading Up 17.6 %

Shares of Urban Outfitters stock opened at $31.35 on Thursday. Urban Outfitters has a twelve month low of $17.81 and a twelve month high of $32.46. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 0.60 and a beta of 1.50. The company has a fifty day moving average price of $27.05 and a 200 day moving average price of $26.82.

Insider Buying and Selling at Urban Outfitters

In other news, insider Azeez Hayne sold 9,073 shares of the company’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $26.96, for a total value of $244,608.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Frank Conforti sold 42,000 shares of Urban Outfitters stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $27.28, for a total transaction of $1,145,760.00. Following the sale, the chief operating officer now owns 2,361 shares of the company’s stock, valued at approximately $64,408.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Azeez Hayne sold 9,073 shares of the business’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $26.96, for a total transaction of $244,608.08. The disclosure for this sale can be found here. Insiders have sold 67,189 shares of company stock valued at $1,813,413 over the last three months. 31.90% of the stock is owned by company insiders.

Institutional Trading of Urban Outfitters

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in Urban Outfitters by 21.4% during the 1st quarter. BlackRock Inc. now owns 12,133,038 shares of the apparel retailer’s stock valued at $336,328,000 after purchasing an additional 2,138,104 shares in the last quarter. Shapiro Capital Management LLC boosted its stake in shares of Urban Outfitters by 4.6% during the 1st quarter. Shapiro Capital Management LLC now owns 9,472,995 shares of the apparel retailer’s stock valued at $237,867,000 after buying an additional 420,001 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Urban Outfitters by 6.0% during the third quarter. Vanguard Group Inc. now owns 6,641,142 shares of the apparel retailer’s stock worth $130,499,000 after buying an additional 376,130 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Urban Outfitters by 8.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,037,357 shares of the apparel retailer’s stock worth $101,382,000 after buying an additional 318,211 shares during the last quarter. Finally, State Street Corp raised its holdings in Urban Outfitters by 2.4% in the first quarter. State Street Corp now owns 2,920,947 shares of the apparel retailer’s stock valued at $80,969,000 after acquiring an additional 68,609 shares in the last quarter. 77.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on URBN shares. Barclays upgraded Urban Outfitters from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $27.00 to $38.00 in a research note on Wednesday. UBS Group cut shares of Urban Outfitters from a “neutral” rating to a “sell” rating in a research report on Wednesday, March 29th. TheStreet raised shares of Urban Outfitters from a “c” rating to a “b” rating in a research report on Tuesday. StockNews.com initiated coverage on shares of Urban Outfitters in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Finally, BMO Capital Markets boosted their price objective on shares of Urban Outfitters from $25.00 to $31.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.33.

Urban Outfitters Company Profile

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Urban Outfitters, Inc engages in the operation of a general consumer product retail and wholesale business selling to customers through various channels including retail locations, websites, catalogs, and mobile applications. It operates through the following segments: Retail, Wholesale and Subscription.