Bank of America Lowers American Eagle Outfitters (NYSE:AEO) Price Target to $21.00

American Eagle Outfitters (NYSE:AEO) had its price objective dropped by analysts at Bank of America from $25.00 to $21.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the apparel retailer’s stock. Bank of America‘s target price would suggest a potential upside of 16.80% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $23.00 target price (down from $27.00) on shares of American Eagle Outfitters in a report on Wednesday. UBS Group decreased their target price on American Eagle Outfitters from $35.00 to $34.00 and set a “buy” rating for the company in a report on Friday, August 30th. Barclays cut their price target on American Eagle Outfitters from $32.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Jefferies Financial Group decreased their price objective on American Eagle Outfitters from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Tuesday, November 12th. Finally, TD Cowen cut their target price on shares of American Eagle Outfitters from $25.00 to $23.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, American Eagle Outfitters presently has a consensus rating of “Hold” and a consensus target price of $22.40.

American Eagle Outfitters Stock Performance

NYSE AEO opened at $17.98 on Thursday. American Eagle Outfitters has a fifty-two week low of $16.88 and a fifty-two week high of $26.44. The stock’s fifty day moving average is $19.70 and its two-hundred day moving average is $20.48. The firm has a market capitalization of $3.45 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 0.99 and a beta of 1.51.

American Eagle Outfitters (NYSE:AEO) last announced its quarterly earnings results on Wednesday, December 4th. The apparel retailer reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.30 billion. American Eagle Outfitters had a return on equity of 20.98% and a net margin of 4.58%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 EPS. As a group, sell-side analysts forecast that American Eagle Outfitters will post 1.77 EPS for the current year.

Insider Activity at American Eagle Outfitters

In other news, Director Cary D. Mcmillan sold 2,283 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $21.49, for a total value of $49,061.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David M. Sable sold 18,420 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $22.04, for a total transaction of $405,976.80. Following the sale, the director now directly owns 39,356 shares in the company, valued at approximately $867,406.24. This represents a 31.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,050,702 shares of company stock worth $21,148,718 over the last 90 days. Company insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On American Eagle Outfitters

Hedge funds have recently added to or reduced their stakes in the business. Kathleen S. Wright Associates Inc. purchased a new position in American Eagle Outfitters during the third quarter worth $32,000. Advisors Asset Management Inc. boosted its stake in shares of American Eagle Outfitters by 171.1% during the third quarter. Advisors Asset Management Inc. now owns 2,548 shares of the apparel retailer’s stock valued at $57,000 after acquiring an additional 1,608 shares during the last quarter. Innealta Capital LLC purchased a new stake in American Eagle Outfitters during the 2nd quarter worth about $78,000. nVerses Capital LLC acquired a new position in American Eagle Outfitters in the 2nd quarter valued at about $108,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in American Eagle Outfitters in the 3rd quarter valued at about $141,000. 97.33% of the stock is currently owned by hedge funds and other institutional investors.

American Eagle Outfitters Company Profile

American Eagle Outfitters, Inc operates as a multi-brand specialty retailer in the United States and internationally. The company provides jeans, apparel and accessories, and personal care products for women and men under the American Eagle brand; and intimates, apparel, activewear, and swim collections under the Aerie and OFFLINE by Aerie brands.