JPMorgan Chase & Co. Boosts Urban Outfitters (NASDAQ:URBN) Price Target to $54.00

Urban Outfitters (NASDAQ:URBN) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $46.00 to $54.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 3.97% from the stock’s previous close.

Several other equities analysts have also commented on URBN. Bank of America raised their price objective on Urban Outfitters from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Wells Fargo & Company lifted their price target on shares of Urban Outfitters from $40.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. StockNews.com upgraded shares of Urban Outfitters from a “hold” rating to a “buy” rating in a report on Thursday, January 2nd. Barclays lifted their target price on shares of Urban Outfitters from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Finally, Morgan Stanley upped their price target on Urban Outfitters from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Urban Outfitters currently has a consensus rating of “Hold” and an average target price of $47.18.

Urban Outfitters Price Performance

URBN traded down $0.46 during midday trading on Wednesday, reaching $56.23. 527,956 shares of the company’s stock traded hands, compared to its average volume of 1,529,250. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 16.11, a P/E/G ratio of 1.10 and a beta of 1.55. The firm has a fifty day moving average of $47.03 and a two-hundred day moving average of $42.36. Urban Outfitters has a 52 week low of $33.86 and a 52 week high of $59.05.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.25. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. Urban Outfitters’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.88 earnings per share. Sell-side analysts forecast that Urban Outfitters will post 3.88 EPS for the current year.

Hedge Funds Weigh In On Urban Outfitters

A number of institutional investors and hedge funds have recently made changes to their positions in URBN. GAMMA Investing LLC increased its holdings in Urban Outfitters by 36.3% during the fourth quarter. GAMMA Investing LLC now owns 759 shares of the apparel retailer’s stock valued at $42,000 after buying an additional 202 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in Urban Outfitters by 2.8% during the second quarter. Evergreen Capital Management LLC now owns 9,361 shares of the apparel retailer’s stock valued at $384,000 after purchasing an additional 258 shares during the period. Quarry LP increased its position in Urban Outfitters by 32.3% in the third quarter. Quarry LP now owns 1,222 shares of the apparel retailer’s stock worth $47,000 after buying an additional 298 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Urban Outfitters by 138.8% in the third quarter. Blue Trust Inc. now owns 609 shares of the apparel retailer’s stock worth $25,000 after buying an additional 354 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Urban Outfitters by 2.4% during the 2nd quarter. Arizona State Retirement System now owns 16,976 shares of the apparel retailer’s stock valued at $697,000 after buying an additional 401 shares in the last quarter. Hedge funds and other institutional investors own 77.61% of the company’s stock.

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.