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

Urban Outfitters (NASDAQ:URBN) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage presently has a $78.00 price target on the apparel retailer’s stock, up from their prior price target of $63.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 7.91% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. Robert W. Baird boosted their price objective on shares of Urban Outfitters from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $72.00 price target (up previously from $59.00) on shares of Urban Outfitters in a research note on Friday, May 16th. Morgan Stanley lowered their price target on Urban Outfitters from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company reduced their price objective on 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, Wall Street Zen raised Urban Outfitters from a “hold” rating to a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $67.45.

Urban Outfitters Price Performance

Shares of NASDAQ URBN opened at $72.28 on Thursday. Urban Outfitters has a 1 year low of $33.86 and a 1 year high of $73.68. The firm has a 50-day simple moving average of $52.83 and a two-hundred day simple moving average of $52.26. The company has a market cap of $6.70 billion, a P/E ratio of 20.71, a PEG ratio of 1.02 and a beta of 1.33.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings data on Wednesday, May 21st. The apparel retailer reported $1.16 EPS for the quarter, beating the consensus estimate of $0.81 by $0.35. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.29 billion. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. Urban Outfitters’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 EPS. As a group, equities research analysts expect that Urban Outfitters will post 3.91 EPS for the current year.

Insider Activity

In other news, Director Wesley S. Mcdonald sold 8,300 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were 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 approximately $902,898. This trade represents a 34.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tricia D. Smith sold 10,000 shares of Urban Outfitters stock in a transaction that occurred 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 directly owns 12,601 shares in the company, valued at approximately $679,697.94. The trade was a 44.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,976 shares of company stock worth $1,663,713. 31.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Urban Outfitters

Institutional investors and hedge funds have recently bought and sold shares of the company. Whipplewood Advisors LLC increased its position in shares of Urban Outfitters by 2,893.8% during the first quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer’s stock worth $25,000 after purchasing an additional 463 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Urban Outfitters by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 525 shares of the apparel retailer’s stock worth $29,000 after buying an additional 200 shares during the last quarter. Federated Hermes Inc. increased its position 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 buying an additional 687 shares in the last quarter. Virtus Advisers LLC acquired a new position in Urban Outfitters during the 1st quarter valued at about $46,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Urban Outfitters in the first quarter valued at about $52,000. 77.61% of the stock is owned by hedge funds and other institutional investors.

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.