Urban Outfitters (NASDAQ:URBN) Shares Down 19.2% – Here’s What Happened

Shares of Urban Outfitters, Inc. (NASDAQ:URBN) traded down 19.2% during mid-day trading on Thursday . The company traded as low as $45.72 and last traded at $44.77. 702,094 shares changed hands during trading, a decline of 61% from the average session volume of 1,784,514 shares. The stock had previously closed at $55.42.

Analyst Ratings Changes

URBN has been the subject of several analyst reports. UBS Group upped their price objective on Urban Outfitters from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Barclays raised their price objective on Urban Outfitters from $63.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Robert W. Baird boosted their price objective on Urban Outfitters from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. StockNews.com raised shares of Urban Outfitters from a “hold” rating to a “buy” rating in a report on Saturday, March 1st. Finally, Morgan Stanley upgraded shares of Urban Outfitters from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $41.00 to $63.00 in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.00.

Urban Outfitters Stock Performance

The business’s fifty day moving average price is $54.32 and its two-hundred day moving average price is $48.02. The stock has a market capitalization of $4.16 billion, a P/E ratio of 12.92, a P/E/G ratio of 1.02 and a beta of 1.56.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings data on Wednesday, February 26th. The apparel retailer reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.15. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. As a group, analysts forecast that Urban Outfitters, Inc. will post 3.91 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Harry S. Cherken, Jr. sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $50.50, for a total value of $757,500.00. Following the sale, the director now directly owns 495,296 shares in the company, valued at approximately $25,012,448. This represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Azeez Hayne sold 11,676 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $54.75, for a total value of $639,261.00. The disclosure for this sale can be found here. Insiders sold 99,976 shares of company stock valued at $5,573,263 over the last three months. 31.80% of the stock is owned by company insiders.

Institutional Trading of Urban Outfitters

Several institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp lifted its holdings in Urban Outfitters by 1.1% during the 3rd quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer’s stock valued at $107,244,000 after buying an additional 31,100 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Urban Outfitters by 5.6% during the 4th quarter. Fisher Asset Management LLC now owns 2,188,806 shares of the apparel retailer’s stock worth $120,122,000 after purchasing an additional 115,390 shares during the period. American Century Companies Inc. raised its position in Urban Outfitters by 9.0% during the 4th quarter. American Century Companies Inc. now owns 2,089,155 shares of the apparel retailer’s stock valued at $114,653,000 after purchasing an additional 173,082 shares in the last quarter. Junto Capital Management LP lifted its holdings in shares of Urban Outfitters by 0.9% in the 4th quarter. Junto Capital Management LP now owns 1,483,646 shares of the apparel retailer’s stock worth $81,422,000 after buying an additional 13,820 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Urban Outfitters by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer’s stock worth $56,765,000 after buying an additional 18,249 shares in the last quarter. 77.61% of the stock is currently owned by institutional investors.

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 Nuuly. 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.