Urban Outfitters (NASDAQ:URBN) Stock Rating Upgraded by JPMorgan Chase & Co.

Urban Outfitters (NASDAQ:URBN - Get Free Report) was upgraded by investment analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a report released on Thursday,Benzinga reports. The firm presently has a $78.00 target price on the apparel retailer's stock, up from their prior target price of $63.00. JPMorgan Chase & Co.'s price objective suggests a potential upside of 30.87% from the stock's previous close.

Several other research firms have also issued reports on URBN. Barclays boosted their target price on Urban Outfitters from $59.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday. Jefferies Financial Group lifted their price objective on shares of Urban Outfitters from $42.00 to $46.00 and gave the stock an "underperform" rating in a research note on Wednesday. UBS Group boosted their price objective on shares of Urban Outfitters from $45.00 to $54.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Wells Fargo & Company cut their target price on shares of Urban Outfitters from $65.00 to $55.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Finally, Morgan Stanley reduced their price target on shares of Urban Outfitters from $63.00 to $62.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Urban Outfitters presently has a consensus rating of "Hold" and an average target price of $57.73.

Urban Outfitters Stock Performance

Shares of Urban Outfitters stock opened at $59.60 on Thursday. The firm has a fifty day moving average of $51.88 and a two-hundred day moving average of $51.75. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 1.02 and a beta of 1.33. Urban Outfitters has a 52 week low of $33.86 and a 52 week high of $71.36.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The apparel retailer reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.35. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The company's revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 earnings per share. As a group, research analysts forecast that Urban Outfitters will post 3.91 EPS for the current fiscal year.

Insider Transactions at Urban Outfitters

In other news, Director Wesley S. Mcdonald sold 8,300 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $58.44, for a total value of $485,052.00. Following the sale, the director now directly owns 15,450 shares in the company, valued at $902,898. The trade was a 34.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Azeez Hayne sold 11,676 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $54.75, for a total value of $639,261.00. The disclosure for this sale can be found here. Insiders sold 29,976 shares of company stock valued at $1,663,713 over the last quarter. Corporate insiders own 31.60% of the company's stock.

Hedge Funds Weigh In On Urban Outfitters

A number of large investors have recently bought and sold shares of URBN. Whipplewood Advisors LLC raised its holdings in shares of Urban Outfitters by 2,893.8% in the first 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 last quarter. Jones Financial Companies Lllp grew its position in Urban Outfitters by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 525 shares of the apparel retailer's stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. Federated Hermes Inc. increased its stake in Urban Outfitters by 17,175.0% in the 1st quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer's stock valued at $36,000 after buying an additional 687 shares during the last quarter. Virtus Advisers LLC bought a new stake in Urban Outfitters during the 1st quarter worth about $46,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Urban Outfitters during the 1st quarter worth about $52,000. 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.

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