Urban Outfitters (NASDAQ:URBN) Price Target Lowered to $94.00 at JPMorgan Chase & Co.

Urban Outfitters (NASDAQ:URBN) had its price objective cut by research analysts at JPMorgan Chase & Co. from $96.00 to $94.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 34.66% from the company’s current price.

A number of other equities analysts have also commented on URBN. Wells Fargo & Company raised their price target on Urban Outfitters from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 26th. Wall Street Zen raised Urban Outfitters from a “hold” rating to a “buy” rating in a report on Tuesday, January 6th. Telsey Advisory Group reissued an “outperform” rating and issued a $98.00 price target on shares of Urban Outfitters in a report on Tuesday, January 13th. UBS Group reaffirmed a “neutral” rating on shares of Urban Outfitters in a research note on Tuesday, January 13th. Finally, Guggenheim started coverage on shares of Urban Outfitters in a research note on Tuesday, December 9th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.67.

Urban Outfitters Price Performance

Shares of URBN traded up $0.32 during trading hours on Tuesday, hitting $69.80. The company’s stock had a trading volume of 377,517 shares, compared to its average volume of 2,086,612. The business has a 50 day simple moving average of $74.01 and a two-hundred day simple moving average of $72.44. Urban Outfitters has a 52-week low of $41.89 and a 52-week high of $84.35. The company has a market cap of $6.26 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.05 and a beta of 1.23.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Wednesday, December 10th. The apparel retailer reported $1.28 EPS for the quarter. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.33%. The company had revenue of $1.53 billion for the quarter. Research analysts predict that Urban Outfitters will post 3.91 earnings per share for the current year.

Insider Activity at Urban Outfitters

In other news, CEO Richard A. Hayne sold 10,667 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $74.94, for a total transaction of $799,384.98. Following the sale, the chief executive officer owned 17,995,938 shares in the company, valued at approximately $1,348,615,593.72. This trade represents a 0.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 429,333 shares of company stock valued at $33,344,334. 31.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Urban Outfitters

Hedge funds and other institutional investors have recently modified their holdings of the company. Root Financial Partners LLC bought a new stake in Urban Outfitters in the 3rd quarter worth approximately $25,000. Hollencrest Capital Management bought a new stake in shares of Urban Outfitters in the 2nd quarter worth approximately $26,000. Global Retirement Partners LLC raised its position in Urban Outfitters by 158.4% in the 3rd quarter. Global Retirement Partners LLC now owns 460 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 282 shares during the period. Spire Wealth Management boosted its position in Urban Outfitters by 83.3% during the fourth quarter. Spire Wealth Management now owns 440 shares of the apparel retailer’s stock valued at $33,000 after buying an additional 200 shares during the period. Finally, Cullen Frost Bankers Inc. grew its stake in shares of Urban Outfitters by 180.2% during the second quarter. Cullen Frost Bankers Inc. now owns 468 shares of the apparel retailer’s stock valued at $34,000 after buying an additional 301 shares during the last quarter. 77.61% of the stock is currently owned by hedge funds and other institutional investors.

About Urban Outfitters

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city’s historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.