Urban Outfitters, Inc. (NASDAQ:URBN) – Investment analysts at Jefferies Financial Group boosted their Q3 2020 EPS estimates for Urban Outfitters in a report issued on Wednesday, May 22nd. Jefferies Financial Group analyst J. Stichter now expects that the apparel retailer will earn $0.63 per share for the quarter, up from their prior forecast of $0.62. Jefferies Financial Group also issued estimates for Urban Outfitters’ Q4 2020 earnings at $0.74 EPS, FY2020 earnings at $2.25 EPS and FY2021 earnings at $2.75 EPS.
URBN has been the subject of several other reports. Wells Fargo & Co decreased their price objective on shares of Urban Outfitters from $30.00 to $28.00 and set a “market perform” rating for the company in a report on Wednesday. Telsey Advisory Group reiterated a “market perform” rating and issued a $29.00 price objective (down from $33.00) on shares of Urban Outfitters in a report on Wednesday. BidaskClub upgraded shares of Urban Outfitters from a “strong sell” rating to a “sell” rating in a report on Saturday, March 30th. Wedbush increased their price objective on shares of Urban Outfitters from $30.00 to $35.00 and gave the company a “hold” rating in a report on Friday, April 5th. Finally, Zacks Investment Research upgraded shares of Urban Outfitters from a “sell” rating to a “hold” rating in a report on Friday, April 12th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $38.79.
Urban Outfitters (NASDAQ:URBN) last posted its earnings results on Tuesday, May 21st. The apparel retailer reported $0.31 EPS for the quarter, topping the consensus estimate of $0.26 by $0.05. Urban Outfitters had a net margin of 7.31% and a return on equity of 20.02%. The firm had revenue of $864.41 million during the quarter, compared to analysts’ expectations of $857.31 million. During the same quarter in the prior year, the firm earned $0.38 EPS.
In related news, General Counsel Azeez Hayne sold 10,300 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $33.63, for a total transaction of $346,389.00. Following the completion of the sale, the general counsel now directly owns 12,523 shares in the company, valued at $421,148.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Frank Conforti sold 22,937 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $29.30, for a total transaction of $672,054.10. The disclosure for this sale can be found here. Insiders have sold 104,200 shares of company stock valued at $3,237,851 over the last 90 days. 24.80% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of URBN. JPMorgan Chase & Co. raised its holdings in Urban Outfitters by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,640,080 shares of the apparel retailer’s stock worth $107,979,000 after purchasing an additional 112,852 shares during the period. TIAA CREF Investment Management LLC raised its holdings in shares of Urban Outfitters by 115.8% during the third quarter. TIAA CREF Investment Management LLC now owns 1,435,098 shares of the apparel retailer’s stock valued at $58,696,000 after acquiring an additional 770,002 shares during the last quarter. Morgan Stanley raised its holdings in shares of Urban Outfitters by 36.3% during the third quarter. Morgan Stanley now owns 439,308 shares of the apparel retailer’s stock valued at $17,967,000 after acquiring an additional 117,075 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Urban Outfitters during the fourth quarter valued at approximately $31,000. Finally, Bank of Montreal Can raised its holdings in shares of Urban Outfitters by 252.5% during the fourth quarter. Bank of Montreal Can now owns 105,273 shares of the apparel retailer’s stock valued at $3,495,000 after acquiring an additional 75,409 shares during the last quarter. Hedge funds and other institutional investors own 71.91% 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 in two segments, Retail and wholesale. 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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