Comerica Bank Buys 47,309 Shares of Urban Outfitters, Inc. $URBN

Key Points

• Comerica Bank increased its holdings in Urban Outfitters, Inc. by 96.6%, now owning approximately 0.10% of the company worth $5,045,000 after purchasing an additional 47,309 shares in the first quarter.
• Urban Outfitters has received mixed analyst ratings, with target prices ranging from $72.00 to $89.00, indicating a consensus target price of $81.82 and an overall average rating of "Hold".
• CEO Tricia D. Smith sold 4,500 shares for $317,340, reducing her position by 25.03% while maintaining ownership of 13,477 shares valued at approximately $950,398.

Comerica Bank raised its position in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 96.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,270 shares of the apparel retailer's stock after buying an additional 47,309 shares during the quarter. Comerica Bank owned about 0.10% of Urban Outfitters worth $5,045,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in URBN. Nuveen LLC bought a new stake in shares of Urban Outfitters in the first quarter valued at $43,769,000. Wedge Capital Management L L P NC bought a new stake in shares of Urban Outfitters in the first quarter valued at $40,544,000. Boston Partners bought a new stake in shares of Urban Outfitters in the first quarter valued at $18,380,000. Voloridge Investment Management LLC bought a new stake in shares of Urban Outfitters in the fourth quarter valued at $18,513,000. Finally, Fuller & Thaler Asset Management Inc. raised its stake in shares of Urban Outfitters by 27.6% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,397,175 shares of the apparel retailer's stock valued at $73,212,000 after buying an additional 302,444 shares during the period. 77.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on URBN shares. Glj Research restated a "sell" rating on shares of Urban Outfitters in a research note on Thursday, May 22nd. Morgan Stanley lifted their price target on Urban Outfitters from $82.00 to $84.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Telsey Advisory Group lifted their price target on Urban Outfitters from $72.00 to $80.00 and gave the company a "market perform" rating in a research report on Thursday, August 28th. UBS Group lifted their price target on Urban Outfitters from $78.00 to $79.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Baird R W upgraded Urban Outfitters from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $81.91.

Urban Outfitters Price Performance

URBN traded up $0.53 during midday trading on Tuesday, reaching $67.61. 2,880,657 shares of the company's stock traded hands, compared to its average volume of 2,159,722. The firm has a fifty day moving average of $74.15 and a two-hundred day moving average of $63.06. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 1.08 and a beta of 1.29. Urban Outfitters, Inc. has a 52 week low of $33.86 and a 52 week high of $80.71.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last posted its earnings results on Wednesday, August 27th. The apparel retailer reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.14. Urban Outfitters had a return on equity of 18.43% and a net margin of 8.15%.The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the business earned $1.24 EPS. The business's revenue for the quarter was up 11.3% on a year-over-year basis. Sell-side analysts forecast that Urban Outfitters, Inc. will post 3.91 EPS for the current year.

Insider Buying and Selling at Urban Outfitters

In related news, CEO Tricia D. Smith sold 4,500 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $70.52, for a total value of $317,340.00. Following the sale, the chief executive officer owned 13,477 shares in the company, valued at $950,398.04. This represents a 25.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 31.80% of the stock is owned by insiders.

Urban Outfitters Profile

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.