Urban Outfitters (NASDAQ:URBN) Raised to “Overweight” at JPMorgan Chase & Co.

Urban Outfitters (NASDAQ:URBN) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Thursday,Benzinga reports. The brokerage currently has a $78.00 price target on the apparel retailer’s stock, up from their previous price target of $63.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 30.87% from the company’s previous close.

A number of other research firms have also recently issued reports on URBN. Wells Fargo & Company cut their price objective on Urban Outfitters from $65.00 to $55.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 30th. UBS Group boosted their target price on Urban Outfitters from $45.00 to $54.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Barclays raised their price target on Urban Outfitters from $59.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday. Citigroup reduced their price objective on shares of Urban Outfitters from $65.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, Morgan Stanley decreased their price objective on shares of Urban Outfitters from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $57.73.

Urban Outfitters Trading Down 2.8%

NASDAQ URBN opened at $59.60 on Thursday. The firm has a market capitalization of $5.52 billion, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 1.02 and a beta of 1.33. The firm’s fifty day moving average price is $51.88 and its two-hundred day moving average price is $51.75. Urban Outfitters has a 1 year low of $33.86 and a 1 year high of $71.36.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings data on Wednesday, May 21st. The apparel retailer reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.35. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. During the same quarter last year, the firm posted $0.69 EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, research analysts anticipate that Urban Outfitters will post 3.91 EPS for the current fiscal year.

Insider Transactions at Urban Outfitters

In other Urban Outfitters news, insider Azeez Hayne sold 11,676 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $54.75, for a total transaction of $639,261.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Tricia D. Smith sold 10,000 shares of Urban Outfitters stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $53.94, for a total transaction of $539,400.00. Following the completion of the sale, the chief executive officer now owns 12,601 shares of the company’s stock, valued at approximately $679,697.94. The trade was a 44.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,976 shares of company stock valued at $1,663,713. 31.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Urban Outfitters

A number of institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC increased its position in shares of Urban Outfitters by 354.6% in the first quarter. Acadian Asset Management LLC now owns 206,454 shares of the apparel retailer’s stock worth $10,813,000 after purchasing an additional 161,039 shares during the period. Intech Investment Management LLC increased its holdings in Urban Outfitters by 110.6% in the 1st quarter. Intech Investment Management LLC now owns 65,804 shares of the apparel retailer’s stock valued at $3,448,000 after buying an additional 34,555 shares during the period. Bayforest Capital Ltd acquired a new position in shares of Urban Outfitters in the 1st quarter valued at approximately $442,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Urban Outfitters by 10.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,668 shares of the apparel retailer’s stock worth $7,476,000 after acquiring an additional 13,554 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of Urban Outfitters by 28.4% during 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. 77.61% of the stock is currently owned by institutional investors.

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.