Urban Outfitters (NASDAQ:URBN) Price Target Raised to $54.00

Urban Outfitters (NASDAQ:URBN) had its target price lifted by JPMorgan Chase & Co. from $46.00 to $54.00 in a research note published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the apparel retailer’s stock.

Other equities analysts have also recently issued reports about the company. StockNews.com upgraded Urban Outfitters from a “hold” rating to a “buy” rating in a report on Thursday, January 2nd. Robert W. Baird raised their price objective on shares of Urban Outfitters from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Telsey Advisory Group upped their target price on shares of Urban Outfitters from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Barclays raised their price target on shares of Urban Outfitters from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company upped their price objective on Urban Outfitters from $40.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Urban Outfitters has a consensus rating of “Hold” and an average target price of $49.64.

Urban Outfitters Price Performance

Shares of URBN opened at $56.96 on Wednesday. The firm has a 50-day simple moving average of $47.86 and a two-hundred day simple moving average of $42.56. The stock has a market cap of $5.26 billion, a PE ratio of 16.32, a P/E/G ratio of 1.10 and a beta of 1.55. Urban Outfitters has a 1-year low of $33.86 and a 1-year high of $59.05.

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

Institutional Trading of Urban Outfitters

A number of institutional investors have recently bought and sold shares of URBN. Geode Capital Management LLC raised its position in shares of Urban Outfitters by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer’s stock worth $56,765,000 after acquiring an additional 18,249 shares in the last quarter. Algert Global LLC increased its stake in Urban Outfitters by 36.0% in the third quarter. Algert Global LLC now owns 53,715 shares of the apparel retailer’s stock valued at $2,058,000 after purchasing an additional 14,220 shares during the last quarter. Petrus Trust Company LTA acquired a new stake in Urban Outfitters during the third quarter worth approximately $642,000. Fisher Asset Management LLC lifted its position in shares of Urban Outfitters by 3.1% during the 3rd quarter. Fisher Asset Management LLC now owns 2,073,416 shares of the apparel retailer’s stock worth $79,433,000 after buying an additional 62,019 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Urban Outfitters by 1.1% in the 3rd quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer’s stock valued at $107,244,000 after buying an additional 31,100 shares in the last quarter. 77.61% of the stock is owned by hedge funds and other institutional investors.

About Urban Outfitters

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.