Urban Outfitters (NASDAQ:URBN) Price Target Raised to $63.00 at JPMorgan Chase & Co.

Urban Outfitters (NASDAQ:URBN) had its target price raised by JPMorgan Chase & Co. from $50.00 to $63.00 in a report published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the apparel retailer’s stock.

Other equities analysts have also issued reports about the stock. StockNews.com lowered shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. UBS Group lifted their price objective on Urban Outfitters from $45.00 to $54.00 and gave the company a “neutral” rating in a research note on Tuesday, May 13th. Morgan Stanley lowered their target price on Urban Outfitters from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Telsey Advisory Group reiterated a “market perform” rating and issued a $59.00 target price on shares of Urban Outfitters in a research note on Friday. Finally, Barclays dropped their price target on shares of Urban Outfitters from $68.00 to $59.00 and set an “overweight” rating on the stock in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $54.00.

Urban Outfitters Price Performance

Urban Outfitters stock opened at $61.42 on Monday. The firm has a market capitalization of $5.69 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 1.02 and a beta of 1.33. Urban Outfitters has a 1-year low of $33.86 and a 1-year high of $63.21. The company’s 50-day moving average is $51.43 and its 200 day moving average is $51.63.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Wednesday, February 26th. The apparel retailer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.15. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. Research analysts anticipate that Urban Outfitters will post 3.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Urban Outfitters

In other Urban Outfitters news, CEO Tricia D. Smith sold 10,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $53.94, for a total transaction of $539,400.00. Following the completion of the transaction, the chief executive officer now owns 12,601 shares of the company’s stock, valued at approximately $679,697.94. This trade represents a 44.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Azeez Hayne sold 11,676 shares of Urban Outfitters 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 a total of 29,976 shares of company stock valued at $1,663,713 in the last ninety days. Insiders own 31.60% of the company’s stock.

Hedge Funds Weigh In On Urban Outfitters

Several institutional investors have recently added to or reduced their stakes in the business. Whipplewood Advisors LLC grew its holdings in shares of Urban Outfitters by 2,893.8% during the 1st quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer’s stock worth $25,000 after purchasing an additional 463 shares during the period. Jones Financial Companies Lllp increased its holdings in Urban Outfitters by 61.5% in the 4th 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. boosted its position in shares of Urban Outfitters by 17,175.0% in the first quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer’s stock worth $36,000 after buying an additional 687 shares during the period. Virtus Advisers LLC purchased a new stake in shares of Urban Outfitters in the first quarter worth about $46,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Urban Outfitters in the first quarter valued at about $52,000. 77.61% of the stock is currently owned by institutional investors and hedge funds.

Urban Outfitters Company Profile

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.