JPMorgan Chase & Co. Cuts Urban Outfitters (NASDAQ:URBN) Price Target to $94.00

Urban Outfitters (NASDAQ:URBN) had its price target reduced by JPMorgan Chase & Co. from $96.00 to $94.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the apparel retailer’s stock.

Several other research firms have also commented on URBN. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Urban Outfitters in a research report on Wednesday, November 26th. Guggenheim began coverage on shares of Urban Outfitters in a research note on Tuesday, December 9th. They set a “neutral” rating for the company. Citigroup raised their price target on shares of Urban Outfitters from $76.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Zacks Research cut Urban Outfitters from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. Finally, Robert W. Baird set a $93.00 price objective on Urban Outfitters in a research report on Wednesday, December 17th. 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $86.67.

Urban Outfitters Trading Down 3.2%

Shares of Urban Outfitters stock opened at $69.55 on Tuesday. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.09 and a beta of 1.23. Urban Outfitters has a twelve month low of $41.89 and a twelve month high of $84.35. The business’s 50 day simple moving average is $74.49 and its 200-day simple moving average is $72.39.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings data on Wednesday, December 10th. The apparel retailer reported $1.28 earnings per share (EPS) for the quarter. Urban Outfitters had a return on equity of 18.33% and a net margin of 8.15%.The business had revenue of $1.53 billion during the quarter. Sell-side analysts predict that Urban Outfitters will post 3.91 earnings per share for the current year.

Insider Buying and Selling

In other Urban Outfitters news, insider Margaret Hayne sold 9,333 shares of Urban Outfitters stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $70.46, for a total value of $657,603.18. Following the transaction, the insider owned 2,094,734 shares in the company, valued at approximately $147,594,957.64. The trade was a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard A. Hayne sold 10,667 shares of the company’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $70.46, for a total value of $751,596.82. Following the completion of the transaction, the chief executive officer directly owned 17,633,260 shares in the company, valued at $1,242,439,499.60. This represents a 0.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 469,333 shares of company stock worth $36,157,534 over the last quarter. Insiders own 31.60% of the company’s stock.

Institutional Investors Weigh In On Urban Outfitters

Several large investors have recently modified their holdings of URBN. Root Financial Partners LLC purchased a new stake in shares of Urban Outfitters during the third quarter valued at $25,000. Hollencrest Capital Management acquired a new stake in Urban Outfitters during the 2nd quarter worth about $26,000. Global Retirement Partners LLC raised its holdings in Urban Outfitters by 158.4% during the 3rd quarter. Global Retirement Partners LLC now owns 460 shares of the apparel retailer’s stock worth $33,000 after buying an additional 282 shares during the period. Spire Wealth Management lifted its stake in Urban Outfitters by 83.3% during the fourth quarter. Spire Wealth Management now owns 440 shares of the apparel retailer’s stock valued at $33,000 after buying an additional 200 shares in the last quarter. Finally, Richardson Financial Services Inc. boosted its holdings in shares of Urban Outfitters by 90.3% in the fourth quarter. Richardson Financial Services Inc. now owns 432 shares of the apparel retailer’s stock worth $33,000 after buying an additional 205 shares during the period. 77.61% of the stock is owned by institutional investors.

Urban Outfitters Company Profile

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.