JPMorgan Chase & Co. Boosts Urban Outfitters (NASDAQ:URBN) Price Target to $110.00

Key Points

• JPMorgan raised Urban Outfitters’ price target from $97 to $110 and maintained an “overweight” rating, implying approximately 44% upside from the reported share price.
• Analyst sentiment remains generally positive: eight analysts rate the stock a Buy and six rate it Hold, producing a consensus “Moderate Buy” rating and an average price target of $89.73.
• Urban Outfitters exceeded quarterly expectations, reporting $1.30 in EPS versus $1.12 expected and $1.48 billion in revenue, up 11.4% year over year.

Urban Outfitters (NASDAQ:URBN - Get Free Report) had its target price upped by equities research analysts at JPMorgan Chase & Co. from $97.00 to $110.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the apparel retailer's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 44.01% from the stock's current price.

A number of other equities research analysts also recently weighed in on the company. Barclays dropped their price objective on Urban Outfitters from $102.00 to $100.00 and set an "overweight" rating on the stock in a research report on Friday, May 22nd. Zacks Research downgraded shares of Urban Outfitters from a "strong-buy" rating to a "hold" rating in a report on Friday. Jefferies Financial Group increased 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 reaffirmed an "overweight" rating and issued a $89.00 price objective on shares of Urban Outfitters in a research report on Monday, July 6th. Finally, Wall Street Zen lowered Urban Outfitters from a "buy" rating to a "hold" rating in a research report on Saturday. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.73.

Urban Outfitters Stock Performance

Urban Outfitters stock traded down $0.25 during mid-day trading on Tuesday, reaching $76.39. 233,439 shares of the company were exchanged, compared to its average volume of 1,401,246. The business has a fifty day moving average of $73.82 and a 200 day moving average of $70.52. The firm has a market cap of $6.54 billion, a P/E ratio of 14.69, a PEG ratio of 1.44 and a beta of 1.23. Urban Outfitters has a 12-month low of $59.53 and a 12-month high of $84.35.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its earnings results on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.18. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.46 billion. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 EPS. Sell-side analysts predict that Urban Outfitters will post 6.13 EPS for the current year.

Insider Transactions at Urban Outfitters

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

Institutional Investors Weigh In On Urban Outfitters

A number of hedge funds and other institutional investors have recently made changes to their positions in URBN. Empowered Funds LLC acquired a new position in shares of Urban Outfitters in the 2nd quarter valued at $11,013,000. Caitlin John LLC acquired a new stake in Urban Outfitters during the second quarter valued at $435,000. Equitable Holdings Inc. purchased a new position in Urban Outfitters in the second quarter valued at $371,000. Public Employees Retirement System of Ohio acquired a new position in shares of Urban Outfitters in the second quarter worth about $91,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Urban Outfitters in the second quarter worth about $205,000. Institutional investors and hedge funds own 77.61% of the company's stock.

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.

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