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Stock Buy: Urban Outfitters

By Zacks Investment Research on | More Posts By | Zacks.com

Urban Outfitters (NASDAQ:URBN) just beat earnings expectations and went on to set new 52-week highs.

Beat the Street

On Mar 4 Urban Outfitters reported earnings per share of 45 cents, topping estimates by a nickel. This was the fourth consecutive earnings surprise.

Sales were up 16%, year-over-year, to $589 million. Same-store sales rose 4% company wide. This was a record-setting quarter as earnings nearly doubled during the fourth quarter.

Estimates Still Rising

There have been more than 40 upward estimate revisions for fiscal 2011 since Urban Outfitters was featured in January. The Zacks Consensus Estimate is now $1.61, up 7 cents, for a growth rate of 26%.

Next year’s forecasts are averaging $1.91, also up 7 cents, which represents a 19% growth rate.

The Chart

After slumping in the early portion of the year, shares bottomed out and are now rising at a break-neck pace. URBN is trading at 52-week highs.

Read the January Feature Here

A chart for Urban Outfitters

Bill Wilton is the Growth Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Growth Trader service

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