Comerica Bank Increases Holdings in Urban Outfitters, Inc. (URBN)
Comerica Bank raised its holdings in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,163 shares of the apparel retailer’s stock after purchasing an additional 642 shares during the quarter. Comerica Bank owned approximately 0.06% of Urban Outfitters worth $1,226,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in URBN. BlackRock Inc. lifted its holdings in shares of Urban Outfitters by 9,872.9% during the first quarter. BlackRock Inc. now owns 13,405,864 shares of the apparel retailer’s stock worth $318,523,000 after buying an additional 13,271,441 shares in the last quarter. FMR LLC lifted its holdings in shares of Urban Outfitters by 7.8% during the first quarter. FMR LLC now owns 5,847,098 shares of the apparel retailer’s stock worth $138,927,000 after buying an additional 424,156 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Urban Outfitters by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 3,926,812 shares of the apparel retailer’s stock worth $72,803,000 after buying an additional 10,249 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of Urban Outfitters by 17.6% during the first quarter. TIAA CREF Investment Management LLC now owns 2,084,087 shares of the apparel retailer’s stock worth $49,518,000 after buying an additional 311,891 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Urban Outfitters during the first quarter worth $48,801,000. 87.67% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on URBN shares. Royal Bank Of Canada set a $17.00 target price on Urban Outfitters and gave the stock a “hold” rating in a report on Monday, July 17th. Morgan Stanley reissued an “equal weight” rating and set a $19.00 target price (down previously from $27.00) on shares of Urban Outfitters in a report on Friday, May 19th. BidaskClub raised Urban Outfitters from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Wells Fargo & Company reissued a “market perform” rating and set a $16.00 target price (down previously from $18.00) on shares of Urban Outfitters in a report on Friday, June 9th. Finally, Telsey Advisory Group dropped their target price on Urban Outfitters from $26.00 to $20.00 and set a “market perform” rating for the company in a report on Friday, June 9th. Three analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and seven have issued a buy rating to the company’s stock. Urban Outfitters currently has a consensus rating of “Hold” and an average price target of $22.20.
Urban Outfitters, Inc. (NASDAQ URBN) opened at 22.76 on Friday. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 15.23 and a beta of 0.59. The company has a 50 day moving average price of $20.09 and a 200-day moving average price of $20.80. Urban Outfitters, Inc. has a 1-year low of $16.19 and a 1-year high of $40.80.
Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Tuesday, August 15th. The apparel retailer reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.07. Urban Outfitters had a return on equity of 13.61% and a net margin of 4.92%. The business had revenue of $873.00 million for the quarter, compared to analyst estimates of $860.80 million. During the same period last year, the company earned $0.66 EPS. Urban Outfitters’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, analysts forecast that Urban Outfitters, Inc. will post $1.41 EPS for the current fiscal year.
Urban Outfitters announced that its board has authorized a stock repurchase program on Thursday, August 24th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the apparel retailer to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
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Urban Outfitters Company Profile
Urban Outfitters, Inc is a lifestyle specialty retail company. The Company operates through two segments: Retail and Wholesale. The Company’s Retail segment consists of its Urban Outfitters, Anthropologie, Free People, Terrain and Bhldn brands, whose merchandise is sold to its customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
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