JPMorgan Chase & Co. Issues Positive Forecast for Urban Outfitters (NASDAQ:URBN) Stock Price

Urban Outfitters (NASDAQ:URBN) had its price target increased by equities researchers at JPMorgan Chase & Co. from $97.00 to $110.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 44.01% from the stock’s current price.

URBN has been the subject of several other reports. Weiss Ratings cut Urban Outfitters from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. Jefferies Financial Group lifted their price target on shares of Urban Outfitters from $72.00 to $79.00 and gave the company a “hold” rating in a research report on Wednesday, August 12th. Morgan Stanley restated an “overweight” rating and issued a $89.00 price objective on shares of Urban Outfitters in a report on Monday, July 6th. Wall Street Zen cut Urban Outfitters from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Zacks Research cut shares of Urban Outfitters from a “strong-buy” rating to a “hold” rating in a research report on Friday. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.73.

Urban Outfitters Trading Down 0.3%

URBN traded down $0.25 during trading on Tuesday, hitting $76.39. The company’s stock had a trading volume of 233,439 shares, compared to its average volume of 1,401,246. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 1.44 and a beta of 1.23. Urban Outfitters has a twelve month low of $59.53 and a twelve month high of $84.35. The business’s fifty day simple moving average is $73.82 and its 200 day simple moving average is $70.52.

Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.18. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 EPS. As a group, equities research analysts forecast that Urban Outfitters will post 6.13 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Melanie Marein-Efron sold 5,036 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $73.42, for a total transaction of $369,743.12. Following the completion of the sale, the chief financial officer owned 17,023 shares in the company, valued at approximately $1,249,828.66. This represents a 22.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Azeez Hayne sold 8,733 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $73.18, for a total value of $639,080.94. Additional details regarding this sale are available in the official SEC disclosure. 32.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Urban Outfitters

Several hedge funds have recently modified their holdings of URBN. Eurizon Capital SGR S.p.A. acquired a new stake in Urban Outfitters in the fourth quarter valued at $27,000. Brown Brothers Harriman & Co. raised its stake in Urban Outfitters by 815.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer’s stock valued at $28,000 after purchasing an additional 326 shares during the last quarter. Salomon & Ludwin LLC lifted its stake in shares of Urban Outfitters by 58.4% during the fourth quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer’s stock valued at $31,000 after buying an additional 149 shares during the period. Allworth Financial LP purchased a new position in shares of Urban Outfitters during the 2nd quarter worth $31,000. Finally, Transamerica Financial Advisors LLC lifted its position in Urban Outfitters by 566.7% during the fourth quarter. Transamerica Financial Advisors LLC now owns 440 shares of the apparel retailer’s stock worth $33,000 after buying an additional 374 shares during the period. 77.61% of the stock is owned by institutional investors and hedge funds.

Urban Outfitters Company Profile

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.