Urban Outfitters (NASDAQ:URBN) Price Target Raised to $110.00

Urban Outfitters (NASDAQ:URBN) had its price target boosted by JPMorgan Chase & Co. from $97.00 to $110.00 in a research note published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the apparel retailer’s stock.

URBN has been the subject of several other reports. Weiss Ratings cut Urban Outfitters from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. The Goldman Sachs Group raised Urban Outfitters from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $76.00 to $93.00 in a research report on Monday, July 20th. Morgan Stanley reiterated an “overweight” rating and issued a $89.00 price objective on shares of Urban Outfitters in a research note on Monday, July 6th. Zacks Research lowered shares of Urban Outfitters from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 14th. Finally, Barclays cut their target price on shares of Urban Outfitters from $102.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, May 22nd. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.73.

Urban Outfitters Stock Down 2.3%

Shares of NASDAQ URBN opened at $72.65 on Tuesday. Urban Outfitters has a 52 week low of $59.53 and a 52 week high of $84.35. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 1.37 and a beta of 1.23. The firm has a 50-day simple moving average of $73.77 and a 200-day simple moving average of $70.59.

Urban Outfitters (NASDAQ:URBN) last issued its earnings results on Thursday, May 21st. The apparel retailer reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.18. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. Urban Outfitters’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts expect that Urban Outfitters will post 6.13 EPS for the current year.

Institutional Trading of Urban Outfitters

A number of hedge funds have recently added to or reduced their stakes in the stock. Jupiter Asset Management Ltd. raised its position in Urban Outfitters by 33.8% in the fourth quarter. Jupiter Asset Management Ltd. now owns 1,297,452 shares of the apparel retailer’s stock worth $97,646,000 after acquiring an additional 327,453 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Urban Outfitters by 883.4% during the 4th quarter. HighTower Advisors LLC now owns 43,081 shares of the apparel retailer’s stock worth $3,242,000 after purchasing an additional 38,700 shares in the last quarter. PBU The Pension Fund of Early Childhood & Youth Educators acquired a new position in shares of Urban Outfitters during the 4th quarter worth $7,539,000. UBS Group AG increased its holdings in shares of Urban Outfitters by 339.3% in the 4th quarter. UBS Group AG now owns 641,454 shares of the apparel retailer’s stock valued at $48,276,000 after purchasing an additional 495,441 shares in the last quarter. Finally, Virtus Wealth Solutions LLC purchased a new position in shares of Urban Outfitters in the 4th quarter valued at about $1,310,000. 77.61% of the stock is owned by institutional investors and hedge funds.

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.