Urban Outfitters (NASDAQ:URBN) Given New $88.00 Price Target at JPMorgan Chase & Co.

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 - Free Report) had its price target lifted by JPMorgan Chase & Co. from $78.00 to $88.00 in a report issued on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the apparel retailer's stock.

A number of other analysts also recently issued reports on the company. Bank of America raised their target price on Urban Outfitters from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Baird R W raised Urban Outfitters from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 11th. Wall Street Zen raised Urban Outfitters from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 14th. Jefferies Financial Group raised Urban Outfitters from an "underperform" rating to a "hold" rating and raised their price target for the stock from $50.00 to $70.00 in a report on Friday, June 6th. Finally, BMO Capital Markets set a $76.00 price target on Urban Outfitters and gave the stock a "market perform" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.00.

Urban Outfitters Trading Down 1.5%

Shares of URBN traded down $1.12 on Monday, reaching $75.18. 766,642 shares of the company's stock traded hands, compared to its average volume of 2,154,921. The stock has a market cap of $6.74 billion, a PE ratio of 15.77, a PEG ratio of 1.32 and a beta of 1.44. The stock's 50 day simple moving average is $71.75 and its two-hundred day simple moving average is $59.84. Urban Outfitters has a 52-week low of $33.86 and a 52-week high of $78.22.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.35. Urban Outfitters had a return on equity of 17.98% and a net margin of 7.91%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the business posted $0.69 earnings per share. The business's revenue for the quarter was up 10.7% on a year-over-year basis. Analysts forecast that Urban Outfitters will post 3.91 earnings per share for the current year.

Insider Activity

In other Urban Outfitters news, insider Margaret Hayne sold 80,000 shares of Urban Outfitters stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $72.59, for a total transaction of $5,807,200.00. Following the completion of the sale, the insider owned 100 shares of the company's stock, valued at $7,259. The trade was a 99.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Azeez Hayne sold 12,856 shares of Urban Outfitters stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $73.00, for a total value of $938,488.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,156 shares of company stock valued at $11,636,158. 31.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Whipplewood Advisors LLC increased its holdings in Urban Outfitters by 2,893.8% during the 1st quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer's stock valued at $25,000 after purchasing an additional 463 shares during the period. Cullen Frost Bankers Inc. increased its holdings in Urban Outfitters by 180.2% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 468 shares of the apparel retailer's stock valued at $34,000 after purchasing an additional 301 shares during the period. Federated Hermes Inc. increased its holdings in Urban Outfitters by 17,175.0% during the 1st quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer's stock valued at $36,000 after purchasing an additional 687 shares during the period. Virtus Advisers LLC purchased a new position in Urban Outfitters during the 1st quarter valued at about $46,000. Finally, Exchange Traded Concepts LLC purchased a new position in Urban Outfitters during the 1st quarter valued at about $52,000. Hedge funds and other 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.