Urban Outfitters, Inc. (NASDAQ:URBN) saw a significant increase in short interest in the month of September. As of September 28th, there was short interest totalling 14,885,412 shares, an increase of 20.9% from the September 14th total of 12,309,766 shares. Approximately 21.4% of the company’s shares are sold short. Based on an average daily volume of 2,229,600 shares, the short-interest ratio is currently 6.7 days.
In other Urban Outfitters news, CEO Trish Donnelly sold 19,332 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $46.10, for a total transaction of $891,205.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 25.90% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Urban Outfitters by 7.9% during the 2nd quarter. BlackRock Inc. now owns 10,188,634 shares of the apparel retailer’s stock valued at $453,903,000 after purchasing an additional 749,276 shares in the last quarter. FMR LLC grew its holdings in Urban Outfitters by 79.7% during the 2nd quarter. FMR LLC now owns 7,872,878 shares of the apparel retailer’s stock valued at $350,737,000 after purchasing an additional 3,492,613 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Urban Outfitters by 6.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,725,076 shares of the apparel retailer’s stock valued at $76,854,000 after purchasing an additional 103,280 shares in the last quarter. Columbus Circle Investors grew its holdings in Urban Outfitters by 42.2% during the 2nd quarter. Columbus Circle Investors now owns 1,581,772 shares of the apparel retailer’s stock valued at $70,468,000 after purchasing an additional 469,144 shares in the last quarter. Finally, Waddell & Reed Financial Inc. acquired a new stake in Urban Outfitters during the 2nd quarter valued at $50,202,000. 77.08% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on the stock. Wedbush reissued a “hold” rating and issued a $35.00 price objective (down previously from $50.00) on shares of Urban Outfitters in a research report on Thursday. B. Riley raised shares of Urban Outfitters from a “neutral” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Tuesday, October 2nd. DA Davidson assumed coverage on shares of Urban Outfitters in a research report on Tuesday, September 25th. They issued a “neutral” rating and a $40.00 price objective for the company. BidaskClub lowered shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Finally, ValuEngine lowered shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Friday, September 14th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $45.83.
URBN opened at $38.59 on Friday. The firm has a market cap of $4.46 billion, a P/E ratio of 23.18, a PEG ratio of 1.20 and a beta of 0.55. Urban Outfitters has a twelve month low of $22.15 and a twelve month high of $52.50.
Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings results on Tuesday, August 21st. The apparel retailer reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.07. The business had revenue of $992.50 million during the quarter, compared to analyst estimates of $980.19 million. Urban Outfitters had a net margin of 4.71% and a return on equity of 18.92%. The business’s revenue was up 13.7% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS. Equities analysts anticipate that Urban Outfitters will post 2.67 earnings per share for the current year.
About Urban Outfitters
Urban Outfitters, Inc, a lifestyle products and services company, engages in the retail and wholesale of general consumer products. The company retails women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28 under the Urban Outfitters brand; and women's casual apparel and accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty products for women aged 28 to 45 under the Anthropologie brand.
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