Todays Report: Today, Urban Outfitters Inc. (URBN) Trading Down 12% After Earnings Miss

Today, Urban Outfitters Inc. (URBN) Trading Down 12% After Earnings Miss

Urban Outfitters Inc. (NASDAQ:URBN)’s share price dropped 12% during trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $33.51 and last traded at $34.31, with a volume of 16,755,821 shares changing hands. The stock had previously closed at $39.01.

The apparel retailer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.44 by $0.04. Urban Outfitters had a return on equity of 19.13% and a net margin of 6.42%. The firm had revenue of $862.50 million for the quarter. During the same quarter last year, the firm posted $0.42 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis.

Several equities analysts have weighed in on the stock. Citigroup Inc. upgraded shares of Urban Outfitters from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 15th. Vetr cut shares of Urban Outfitters from a “buy” rating to a “strong sell” rating and set a $33.77 price objective on the stock. in a research report on Tuesday, November 15th. Morgan Stanley cut shares of Urban Outfitters from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $36.00 to $39.00 in a research report on Thursday, November 17th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Urban Outfitters in a research report on Tuesday. Finally, BMO Capital Markets reiterated a “neutral” rating on shares of Urban Outfitters in a research report on Wednesday. Twenty-one research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Urban Outfitters currently has an average rating of “Hold” and an average price target of $35.79.

In other news, General Counsel Azeez Hayne sold 6,260 shares of the stock in a transaction on Monday, November 14th. The shares were sold at an average price of $39.95, for a total transaction of $250,087.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 24.30% of the company’s stock.

Large investors have recently modified their holdings of the company. Emerald Advisers Inc. PA increased its stake in shares of Urban Outfitters by 286.2% in the second quarter. Emerald Advisers Inc. PA now owns 661,805 shares of the apparel retailer’s stock valued at $18,200,000 after buying an additional 490,430 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of Urban Outfitters by 25.5% in the second quarter. Meeder Asset Management Inc. now owns 32,918 shares of the apparel retailer’s stock valued at $906,000 after buying an additional 6,685 shares in the last quarter. GW&K Investment Management LLC increased its stake in shares of Urban Outfitters by 18.1% in the second quarter. GW&K Investment Management LLC now owns 404,123 shares of the apparel retailer’s stock valued at $11,113,000 after buying an additional 62,027 shares in the last quarter. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Urban Outfitters during the second quarter valued at about $9,815,000. Finally, Nuveen Asset Management LLC bought a new stake in shares of Urban Outfitters during the first quarter valued at about $1,162,000. 74.17% of the stock is owned by institutional investors.

The company has a market capitalization of $4.02 billion, a P/E ratio of 17.67 and a beta of 0.69. The stock has a 50 day moving average of $35.24 and a 200 day moving average of $31.95.

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