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

Urban Outfitters (NASDAQ:URBN) had its target price increased by research analysts at JPMorgan Chase & Co. from $89.00 to $96.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 27.69% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Wall Street Zen raised Urban Outfitters from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Wells Fargo & Company boosted their target price on shares of Urban Outfitters from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday. Bank of America lifted their price target on Urban Outfitters from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Zacks Research downgraded Urban Outfitters from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Barclays increased their price target on Urban Outfitters from $89.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Urban Outfitters has an average rating of “Hold” and an average target price of $85.00.

Urban Outfitters Stock Performance

Shares of NASDAQ URBN traded up $6.88 during midday trading on Wednesday, hitting $75.19. 5,952,852 shares of the stock traded hands, compared to its average volume of 2,117,938. The firm has a market capitalization of $6.74 billion, a P/E ratio of 14.69, a PEG ratio of 1.04 and a beta of 1.28. Urban Outfitters has a one year low of $41.89 and a one year high of $80.71. The firm has a 50-day moving average of $67.23 and a two-hundred day moving average of $70.07.

Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Tuesday, November 25th. The apparel retailer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.09. Urban Outfitters had a return on equity of 18.43% and a net margin of 8.15%.The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm posted $1.10 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities analysts forecast that Urban Outfitters will post 3.91 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Richard A. Hayne sold 9,333 shares of the stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $70.11, for a total transaction of $654,336.63. Following the completion of the sale, the chief executive officer owned 2,430,722 shares of the company’s stock, valued at $170,417,919.42. This represents a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Tricia D. Smith sold 3,400 shares of Urban Outfitters stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $69.77, for a total transaction of $237,218.00. Following the completion of the transaction, the chief executive officer directly owned 10,077 shares in the company, valued at $703,072.29. This represents a 25.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 44,400 shares of company stock worth $3,118,738. Corporate insiders own 31.60% of the company’s stock.

Institutional Investors Weigh In On Urban Outfitters

Institutional investors and hedge funds have recently modified their holdings of the company. CIBC Bancorp USA Inc. purchased a new stake in shares of Urban Outfitters in the 3rd quarter valued at $466,000. Danske Bank A S acquired a new position in Urban Outfitters in the third quarter valued at approximately $4,032,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Urban Outfitters by 11.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 84,500 shares of the apparel retailer’s stock worth $6,036,000 after purchasing an additional 9,000 shares in the last quarter. Oberweis Asset Management Inc. grew its stake in shares of Urban Outfitters by 10.5% during the 3rd quarter. Oberweis Asset Management Inc. now owns 234,300 shares of the apparel retailer’s stock worth $16,736,000 after purchasing an additional 22,200 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Urban Outfitters by 8.9% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 66,591 shares of the apparel retailer’s stock valued at $4,809,000 after purchasing an additional 5,467 shares in the last quarter. Institutional investors and hedge funds 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.