JPMorgan Chase & Co. Cuts Urban Outfitters (NASDAQ:URBN) Price Target to $50.00

Urban Outfitters (NASDAQ:URBN) had its price objective reduced by JPMorgan Chase & Co. from $56.00 to $50.00 in a research report released on Monday morning,Benzinga reports. They currently have a neutral rating on the apparel retailer’s stock.

URBN has been the topic of several other reports. StockNews.com downgraded Urban Outfitters from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Morgan Stanley upgraded shares of Urban Outfitters from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $41.00 to $63.00 in a research report on Tuesday, January 21st. UBS Group lifted their target price on shares of Urban Outfitters from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Barclays increased their price target on Urban Outfitters from $63.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, Wells Fargo & Company lifted their price objective on Urban Outfitters from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $55.18.

Urban Outfitters Stock Down 1.3 %

URBN opened at $47.70 on Monday. Urban Outfitters has a 52 week low of $33.86 and a 52 week high of $61.16. The stock has a market cap of $4.42 billion, a PE ratio of 13.67, a PEG ratio of 1.02 and a beta of 1.37. The business has a 50 day moving average of $52.13 and a 200-day moving average of $48.67.

Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Wednesday, February 26th. The apparel retailer reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.15. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. Equities analysts anticipate that Urban Outfitters will post 3.91 EPS for the current year.

Insiders Place Their Bets

In related news, Director Wesley S. Mcdonald sold 8,300 shares of Urban Outfitters stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $58.44, for a total transaction of $485,052.00. Following the transaction, the director now owns 15,450 shares in the company, valued at approximately $902,898. The trade was a 34.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Azeez Hayne sold 11,676 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $54.75, for a total value of $639,261.00. The disclosure for this sale can be found here. Insiders sold a total of 44,976 shares of company stock worth $2,421,213 over the last quarter. 31.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Urban Outfitters

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in Urban Outfitters by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer’s stock worth $56,765,000 after purchasing an additional 18,249 shares in the last quarter. Friedenthal Financial bought a new stake in shares of Urban Outfitters during the fourth quarter valued at approximately $765,000. State Street Corp lifted its holdings in shares of Urban Outfitters by 1.1% in the third quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer’s stock worth $107,244,000 after buying an additional 31,100 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Urban Outfitters by 1,016.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 131,606 shares of the apparel retailer’s stock worth $7,223,000 after acquiring an additional 119,820 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Urban Outfitters by 17,631.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 35,817 shares of the apparel retailer’s stock valued at $1,966,000 after acquiring an additional 35,615 shares in the last quarter. Institutional investors own 77.61% of the company’s stock.

Urban Outfitters Company Profile

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nuuly. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.