Urban Outfitters, Inc. (NASDAQ:URBN) was the target of a large decrease in short interest in November. As of November 15th, there was short interest totalling 5,990,000 shares, a decrease of 20.1% from the October 31st total of 7,500,000 shares. Based on an average daily volume of 1,910,000 shares, the short-interest ratio is currently 3.1 days. Approximately 10.0% of the shares of the stock are short sold.
In related news, CAO Azeez Hayne sold 1,100 shares of the stock in a transaction dated Wednesday, November 3rd. The stock was sold at an average price of $35.00, for a total transaction of $38,500.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 27.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. lifted its holdings in Urban Outfitters by 998.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 604 shares of the apparel retailer’s stock worth $25,000 after buying an additional 549 shares during the period. Advisory Services Network LLC purchased a new stake in Urban Outfitters in the 2nd quarter worth approximately $31,000. Exchange Traded Concepts LLC lifted its holdings in Urban Outfitters by 148.3% in the 2nd quarter. Exchange Traded Concepts LLC now owns 1,234 shares of the apparel retailer’s stock worth $51,000 after buying an additional 737 shares during the period. Macquarie Group Ltd. lifted its holdings in Urban Outfitters by 186.8% in the 3rd quarter. Macquarie Group Ltd. now owns 2,710 shares of the apparel retailer’s stock worth $80,000 after buying an additional 1,765 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Urban Outfitters by 205.6% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,393 shares of the apparel retailer’s stock worth $99,000 after buying an additional 1,610 shares during the period. Institutional investors and hedge funds own 68.64% of the company’s stock.
URBN opened at $31.60 on Friday. Urban Outfitters has a 1 year low of $24.40 and a 1 year high of $42.10. The stock’s 50 day simple moving average is $32.45 and its 200 day simple moving average is $35.27. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 0.59 and a beta of 1.57.
Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings data on Monday, November 22nd. The apparel retailer reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. Urban Outfitters had a return on equity of 18.77% and a net margin of 6.91%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the business posted $0.78 EPS. The business’s revenue was up 16.7% on a year-over-year basis. On average, equities research analysts anticipate that Urban Outfitters will post 3.33 EPS for the current fiscal year.
Several analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Urban Outfitters from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, August 16th. Jefferies Financial Group assumed coverage on Urban Outfitters in a report on Wednesday, August 25th. They issued a “buy” rating and a $49.00 price target on the stock. BMO Capital Markets raised their price target on Urban Outfitters from $35.00 to $37.00 and gave the company a “market perform” rating in a report on Wednesday, August 25th. Zacks Investment Research lowered Urban Outfitters from a “strong-buy” rating to a “sell” rating and set a $33.00 price objective on the stock. in a research report on Tuesday, October 26th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Urban Outfitters from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Wednesday, August 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.82.
About Urban Outfitters
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.