JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Urban Outfitters (NASDAQ:URBN) Stock

Urban Outfitters (NASDAQ:URBN - Get Free Report) had its price target raised by investment analysts at JPMorgan Chase & Co. from $46.00 to $54.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the apparel retailer's stock. JPMorgan Chase & Co.'s price target indicates a potential downside of 5.43% from the company's previous close.

A number of other brokerages have also recently commented on URBN. Wells Fargo & Company lifted their price target 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. Telsey Advisory Group upped their target price on Urban Outfitters from $44.00 to $46.00 and gave the company a "market perform" rating in a research report on Wednesday, November 27th. Robert W. Baird raised their price target on shares of Urban Outfitters from $47.00 to $49.00 and gave the stock a "neutral" 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 research note on Thursday, January 2nd. Finally, Citigroup upgraded shares of Urban Outfitters from a "neutral" rating to a "buy" rating and boosted their target price for the company from $42.00 to $59.00 in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $47.18.

Urban Outfitters Price Performance

Urban Outfitters stock traded up $0.41 during midday trading on Wednesday, reaching $57.10. The company's stock had a trading volume of 1,538,470 shares, compared to its average volume of 1,735,974. The stock has a market capitalization of $5.27 billion, a P/E ratio of 16.36, a PEG ratio of 1.10 and a beta of 1.55. The stock's 50-day simple moving average is $47.44 and its 200-day simple moving average is $42.46. Urban Outfitters has a 52-week low of $33.86 and a 52-week high of $59.05.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.25. The company had revenue of $1.36 billion during 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 revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the business earned $0.88 EPS. As a group, equities research analysts expect that Urban Outfitters will post 3.88 earnings per share for the current fiscal year.

Institutional Trading of Urban Outfitters

Several institutional investors have recently bought and sold shares of the business. Marshall Wace LLP lifted its position in shares of Urban Outfitters by 116.3% during the 2nd quarter. Marshall Wace LLP now owns 2,288,817 shares of the apparel retailer's stock valued at $93,956,000 after buying an additional 1,230,771 shares in the last quarter. American Century Companies Inc. raised its position in shares of Urban Outfitters by 20.5% during the 2nd quarter. American Century Companies Inc. now owns 1,555,067 shares of the apparel retailer's stock worth $63,836,000 after purchasing an additional 264,708 shares during the last quarter. Cerity Partners LLC purchased a new position in Urban Outfitters in the 3rd quarter valued at about $8,340,000. Empowered Funds LLC acquired a new stake in Urban Outfitters in the 3rd quarter worth about $7,789,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Urban Outfitters during the 2nd quarter worth approximately $7,238,000. 77.61% of the stock is owned by institutional investors and hedge funds.

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.