Urban Outfitters (NASDAQ:URBN) Shares Gap Down to $38.02

Urban Outfitters, Inc. (NASDAQ:URBN)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $38.02, but opened at $36.66. Urban Outfitters shares last traded at $36.89, with a volume of 546,871 shares.

Analyst Upgrades and Downgrades

Several research firms have recently commented on URBN. Jefferies Financial Group lowered shares of Urban Outfitters from a “hold” rating to an “underperform” rating and lowered their price target for the stock from $42.00 to $32.00 in a research report on Wednesday. UBS Group upped their price target on shares of Urban Outfitters from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 5th. StockNews.com lowered shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Telsey Advisory Group upped their price target on shares of Urban Outfitters from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Urban Outfitters from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Urban Outfitters presently has an average rating of “Hold” and a consensus price target of $39.67.

Urban Outfitters Trading Down 0.1 %

The company’s 50-day moving average price is $41.95 and its two-hundred day moving average price is $38.05. The company has a market cap of $3.45 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 0.58 and a beta of 1.53.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings data on Tuesday, February 27th. The apparel retailer reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.04). Urban Outfitters had a net margin of 5.58% and a return on equity of 15.32%. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the business posted $0.39 EPS. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities analysts forecast that Urban Outfitters, Inc. will post 3.53 earnings per share for the current year.

Insider Activity

In other news, insider Azeez Hayne sold 2,878 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $40.75, for a total transaction of $117,278.50. Following the completion of the transaction, the insider now owns 2,878 shares in the company, valued at approximately $117,278.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Urban Outfitters news, insider Azeez Hayne sold 2,878 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $40.75, for a total transaction of $117,278.50. Following the completion of the sale, the insider now directly owns 2,878 shares of the company’s stock, valued at $117,278.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Melanie Marein-Efron sold 3,345 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $42.23, for a total transaction of $141,259.35. Following the sale, the chief financial officer now directly owns 6,908 shares of the company’s stock, valued at $291,724.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,473 shares of company stock worth $757,483. Corporate insiders own 31.80% of the company’s stock.

Institutional Trading of Urban Outfitters

Hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors lifted its stake in Urban Outfitters by 148.5% during the second quarter. Captrust Financial Advisors now owns 1,533 shares of the apparel retailer’s stock valued at $29,000 after buying an additional 916 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Urban Outfitters by 89.7% in the fourth quarter. Parallel Advisors LLC now owns 882 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 417 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Urban Outfitters in the second quarter worth approximately $33,000. Castleview Partners LLC purchased a new stake in shares of Urban Outfitters in the third quarter worth approximately $39,000. Finally, Spire Wealth Management lifted its position in shares of Urban Outfitters by 3,700.0% in the fourth quarter. Spire Wealth Management now owns 1,140 shares of the apparel retailer’s stock worth $41,000 after purchasing an additional 1,110 shares in the last quarter. 77.61% of the stock is owned by hedge funds and other institutional investors.

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 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 apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.