Urban Outfitters stock, unstoppable
Tuesday, 28 August 2012
After releasing its second straight quarter with a positive earnings surprises, Urban Outfitters (URBN) in clearly becoming the new darling of both analysts and investors. Over the last 7 days, 24 of 26 estimates for the current fiscal year were revised
higher, analysts remind from Zacks.According
to Zacks´ analysis team, URBN has everything needed to be a ‘Growth Pick’: a positive earnings surprise history that is its primary strength, a flexible merchandising strategy, strong results and earnings momentum.“Urban Outfitters, which competes with Gap Inc. ( GPS ) and Abercrombie & Fitch Co. ( ANF ), posted second quarter earnings of 42 cents per share on August 20, surpassing the Zacks Consensus Estimate of 33 cents and jumping from 35 cents last year. Lower shares outstanding and top-line growth benefited the bottom line,” they summarize.
Shares of the American retailer reached a new 52-week high of 37.68 dollars on August 22 and have shot up 17.7 percent since posting solid second quarter results earlier this week. Earnings per share surged 20 percent year over year, marking a 27.3 percent positive earnings surprise, reported Reuters.
According to SEC filings on August 27, 2012, Belair Scott A (Director) sold a total of 516,000 shares at a total value of 19,017,240 dollars. On August 20, 2012, Urban Outfitters released their second quarter earning results with a revenue of 676 million dollars and earnings per share of 42 cents. On August 21, 2012, UBS and Canaccord Genuity raised Urban Outfitters' price target to 37.00 dollars and 38.00 dollars respectively.
The Zacks Consensus Estimate for fiscal 2013 rose 6.8 percent to 1.57 dollars per share in the past 7 days, as 24 of 26 estimates were revised higher. The current estimate implies year-over-year growth of 31.6 percent. For fiscal 2014, 21 of 26 estimates were revised higher over the same timeframe, lifting the Zacks Consensus Estimate by 4.4 percent to 1.90 dollars per share. The current estimate suggests year-over-year growth of 21.3 percent.
Urban Outfitters has a market cap of 5.35 billion dollars and is currently trading around 36.92 dollars with a 52-week range of 21.47 to 37.68 dollars. The stock has gained 33.96 percent year to date.
