Urban Outfitters, Inc. (NASDAQ:URBN) – Equities researchers at KeyCorp lowered their Q2 2020 EPS estimates for Urban Outfitters in a research note issued to investors on Tuesday, May 21st. KeyCorp analyst E. Yruma now expects that the apparel retailer will earn $0.60 per share for the quarter, down from their previous estimate of $0.77. KeyCorp also issued estimates for Urban Outfitters’ Q3 2020 earnings at $0.65 EPS, Q4 2020 earnings at $0.92 EPS, FY2020 earnings at $2.48 EPS and FY2021 earnings at $2.72 EPS.
URBN has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Urban Outfitters from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Nomura cut their target price on shares of Urban Outfitters from $32.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday. Wedbush restated an “average” rating and set a $28.00 target price (down previously from $35.00) on shares of Urban Outfitters in a research report on Tuesday, April 23rd. ValuEngine upgraded shares of Urban Outfitters from a “sell” rating to a “hold” rating in a research report on Thursday, March 7th. Finally, DA Davidson cut their price objective on shares of Urban Outfitters to $30.00 and set a “neutral” rating for the company in a research report on Thursday, March 7th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $38.79.
Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Tuesday, May 21st. The apparel retailer reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $864.41 million during the quarter, compared to analysts’ expectations of $857.31 million. Urban Outfitters had a net margin of 7.31% and a return on equity of 20.02%. During the same quarter in the previous year, the business posted $0.38 earnings per share.
A number of hedge funds have recently modified their holdings of URBN. Oregon Public Employees Retirement Fund increased its position in Urban Outfitters by 3,059.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,003,171 shares of the apparel retailer’s stock worth $30,000 after purchasing an additional 971,424 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Urban Outfitters during the fourth quarter worth approximately $31,000. Bessemer Group Inc. increased its position in Urban Outfitters by 105.5% during the fourth quarter. Bessemer Group Inc. now owns 972 shares of the apparel retailer’s stock worth $32,000 after purchasing an additional 499 shares during the last quarter. Parallel Advisors LLC increased its position in Urban Outfitters by 114.9% during the first quarter. Parallel Advisors LLC now owns 1,180 shares of the apparel retailer’s stock worth $35,000 after purchasing an additional 631 shares during the last quarter. Finally, Signaturefd LLC increased its position in Urban Outfitters by 178.1% during the first quarter. Signaturefd LLC now owns 1,232 shares of the apparel retailer’s stock worth $37,000 after purchasing an additional 789 shares during the last quarter. 71.91% of the stock is owned by hedge funds and other institutional investors.
In related news, COO Calvin Hollinger sold 23,813 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $29.13, for a total transaction of $693,672.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Frank Conforti sold 22,937 shares of the company’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 in the last ninety days. 24.80% of the stock is currently owned by company insiders.
About Urban Outfitters
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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