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

Key Points

• JPMorgan Chase & Co. has raised its target price for Urban Outfitters (NASDAQ:URBN) from $78.00 to $88.00, indicating a potential upside of 16.39% from the current stock price.
• Urban Outfitters recently reported earnings of $1.16 per share, surpassing analysts' expectations of $0.81, alongside a 10.7% increase in revenue compared to the same quarter last year.
• Insider activity shows significant stock sales by CFO Melanie Marein-Efron and CEO Tricia D. Smith, with notable decreases in their ownership percentages following the transactions.

Urban Outfitters (NASDAQ:URBN - Get Free Report) had its target price increased by stock analysts at JPMorgan Chase & Co. from $78.00 to $88.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the apparel retailer's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 16.39% from the stock's current price.

A number of other research firms have also weighed in on URBN. Wells Fargo & Company reissued an "equal weight" rating on shares of Urban Outfitters in a report on Thursday, May 22nd. Wall Street Zen raised shares of Urban Outfitters from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 14th. Barclays raised their target price on shares of Urban Outfitters from $59.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. Bank of America raised their target price on shares of Urban Outfitters from $70.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Finally, Jefferies Financial Group raised shares of Urban Outfitters from an "underperform" rating to a "hold" rating and raised their target price for the company from $50.00 to $70.00 in a report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $75.00.

Urban Outfitters Price Performance

Urban Outfitters stock opened at $75.61 on Monday. The stock has a market cap of $6.78 billion, a P/E ratio of 15.82, a PEG ratio of 1.27 and a beta of 1.44. Urban Outfitters has a 1 year low of $33.86 and a 1 year high of $78.22. The firm's 50 day moving average price is $70.79 and its 200-day moving average price is $59.47.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The apparel retailer reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.35. The firm had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.29 billion. Urban Outfitters had a net margin of 7.91% and a return on equity of 17.98%. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. As a group, equities analysts expect that Urban Outfitters will post 3.91 EPS for the current year.

Insider Activity

In related news, CFO Melanie Marein-Efron sold 20,000 shares of Urban Outfitters stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $73.36, for a total value of $1,467,200.00. Following the completion of the sale, the chief financial officer directly owned 5,036 shares in the company, valued at $369,440.96. The trade was a 79.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Tricia D. Smith sold 4,500 shares of Urban Outfitters stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $70.52, for a total value of $317,340.00. Following the completion of the sale, the chief executive officer owned 13,477 shares of the company's stock, valued at $950,398.04. The trade was a 25.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 159,156 shares of company stock valued at $11,636,158. Insiders own 31.80% of the company's stock.

Institutional Trading of Urban Outfitters

Several institutional investors and hedge funds have recently made changes to their positions in URBN. Raymond James Financial Inc. bought a new stake in shares of Urban Outfitters in the fourth quarter valued at about $513,000. Sei Investments Co. raised its holdings in Urban Outfitters by 24.9% in the fourth quarter. Sei Investments Co. now owns 163,497 shares of the apparel retailer's stock worth $8,972,000 after purchasing an additional 32,622 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Urban Outfitters in the fourth quarter worth about $708,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Urban Outfitters by 19.6% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 50,319 shares of the apparel retailer's stock worth $2,762,000 after purchasing an additional 8,252 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Urban Outfitters by 36.5% in the fourth quarter. JPMorgan Chase & Co. now owns 589,660 shares of the apparel retailer's stock worth $32,361,000 after purchasing an additional 157,768 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.

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