JPMorgan Chase & Co. Has Lowered Expectations for Urban Outfitters (NASDAQ:URBN) Stock Price

Urban Outfitters (NASDAQ:URBN) had its price target cut by analysts at JPMorgan Chase & Co. from $96.00 to $94.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 30.81% from the stock’s previous close.

A number of other brokerages also recently weighed in on URBN. Wells Fargo & Company increased their price target on Urban Outfitters from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 26th. The Goldman Sachs Group assumed coverage on Urban Outfitters in a research note on Tuesday, December 9th. They issued a “neutral” rating and a $83.00 price target on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Urban Outfitters in a research report on Wednesday, November 26th. Barclays boosted their target price on shares of Urban Outfitters from $98.00 to $102.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Finally, Zacks Research cut shares of Urban Outfitters from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Urban Outfitters presently has a consensus rating of “Hold” and an average target price of $86.67.

Urban Outfitters Price Performance

Shares of URBN stock opened at $71.86 on Tuesday. The stock has a market capitalization of $6.44 billion, a PE ratio of 13.56, a PEG ratio of 1.06 and a beta of 1.23. The business’s 50 day simple moving average is $74.37 and its 200 day simple moving average is $72.41. Urban Outfitters has a one year low of $41.89 and a one year high of $84.35.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings results on Wednesday, December 10th. The apparel retailer reported $1.28 earnings per share (EPS) for the quarter. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.33%. The firm had revenue of $1.53 billion for the quarter. As a group, research analysts expect that Urban Outfitters will post 3.91 earnings per share for the current year.

Insider Transactions at Urban Outfitters

In related news, CEO Richard A. Hayne sold 10,667 shares of the firm’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $70.20, for a total value of $748,823.40. Following the transaction, the chief executive officer owned 17,643,927 shares of the company’s stock, valued at approximately $1,238,603,675.40. This trade represents a 0.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Margaret Hayne sold 9,333 shares of the stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $70.20, for a total value of $655,176.60. Following the completion of the sale, the insider directly owned 2,104,067 shares of the company’s stock, valued at approximately $147,705,503.40. This trade represents a 0.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 449,333 shares of company stock worth $34,748,334 in the last 90 days. 31.60% of the stock is currently owned by company insiders.

Institutional Trading of Urban Outfitters

Institutional investors have recently made changes to their positions in the company. Root Financial Partners LLC bought a new position in shares of Urban Outfitters during the third quarter valued at about $25,000. Hollencrest Capital Management bought a new position in shares of Urban Outfitters in the second quarter valued at approximately $26,000. Spire Wealth Management lifted its holdings in Urban Outfitters by 83.3% during the fourth quarter. Spire Wealth Management now owns 440 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 200 shares during the period. Global Retirement Partners LLC grew its stake in Urban Outfitters by 158.4% in the 3rd quarter. Global Retirement Partners LLC now owns 460 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 282 shares during the period. Finally, Cullen Frost Bankers Inc. increased its position in shares of 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 last quarter. Institutional investors own 77.61% of the company’s stock.

About Urban Outfitters

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city’s historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.