JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Urban Outfitters (NASDAQ:URBN) Stock

Urban Outfitters (NASDAQ:URBN) had its price objective increased by research analysts at JPMorgan Chase & Co. from $50.00 to $63.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 1.41% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $59.00 price objective on shares of Urban Outfitters in a research note on Friday. Morgan Stanley cut their target price on Urban Outfitters from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Barclays lowered their price target on shares of Urban Outfitters from $68.00 to $59.00 and set an “overweight” rating for the company in a report on Monday, May 12th. StockNews.com downgraded Urban Outfitters from a “buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company dropped their price objective on Urban Outfitters from $65.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Urban Outfitters has an average rating of “Hold” and an average price target of $54.00.

Urban Outfitters Stock Performance

URBN traded down $0.69 during midday trading on Monday, hitting $62.13. The company had a trading volume of 533,358 shares, compared to its average volume of 1,907,120. The company has a market capitalization of $5.76 billion, a PE ratio of 17.79, a P/E/G ratio of 1.02 and a beta of 1.33. Urban Outfitters has a twelve month low of $33.86 and a twelve month high of $63.21. The firm’s 50-day simple moving average is $51.27 and its 200-day simple moving average is $51.45.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings data on Wednesday, February 26th. The apparel retailer reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.15. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. As a group, sell-side analysts anticipate that Urban Outfitters will post 3.91 EPS for the current fiscal year.

Insider Transactions at Urban Outfitters

In related news, CEO Tricia D. Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $53.94, for a total transaction of $539,400.00. Following the completion of the transaction, the chief executive officer now owns 12,601 shares in the company, valued at $679,697.94. This represents a 44.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Azeez Hayne sold 11,676 shares of the stock in a transaction that occurred 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 29,976 shares of company stock valued at $1,663,713 over the last three months. Company insiders own 31.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Empowered Funds LLC raised its position in shares of Urban Outfitters by 28.4% in the 1st quarter. Empowered Funds LLC now owns 197,660 shares of the apparel retailer’s stock worth $10,357,000 after acquiring an additional 43,663 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Urban Outfitters in the 1st quarter worth approximately $1,342,000. Sciencast Management LP bought a new position in shares of Urban Outfitters in the 1st quarter worth approximately $1,794,000. Dynamic Technology Lab Private Ltd grew its stake in shares of Urban Outfitters by 86.1% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 45,541 shares of the apparel retailer’s stock worth $2,386,000 after buying an additional 21,067 shares during the last quarter. Finally, Scientech Research LLC grew its stake in shares of Urban Outfitters by 253.5% in the 1st quarter. Scientech Research LLC now owns 19,985 shares of the apparel retailer’s stock worth $1,047,000 after buying an additional 14,331 shares during the last quarter. Institutional investors own 77.61% of the company’s stock.

About Urban Outfitters

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.