American Eagle Outfitters (NYSE:AEO) Shares Down 2% After Analyst Downgrade

American Eagle Outfitters, Inc. (NYSE:AEOGet Free Report) dropped 2% during mid-day trading on Friday after Bank of America lowered their price target on the stock from $18.00 to $13.00. Bank of America currently has a neutral rating on the stock. American Eagle Outfitters traded as low as $10.79 and last traded at $10.77. Approximately 1,721,860 shares traded hands during trading, a decline of 63% from the average daily volume of 4,628,719 shares. The stock had previously closed at $10.98.

Other research analysts also recently issued research reports about the company. Telsey Advisory Group decreased their price objective on American Eagle Outfitters from $18.00 to $12.00 and set a “market perform” rating on the stock in a research note on Thursday. Morgan Stanley lowered their target price on shares of American Eagle Outfitters from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday. UBS Group cut their price target on American Eagle Outfitters from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday. Raymond James initiated coverage on American Eagle Outfitters in a research report on Friday, December 13th. They issued a “market perform” rating on the stock. Finally, Barclays cut American Eagle Outfitters from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $17.00 to $10.00 in a research report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.00.

Check Out Our Latest Stock Report on American Eagle Outfitters

Insider Buying and Selling at American Eagle Outfitters

In other news, Director Cary D. Mcmillan sold 2,999 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $16.02, for a total transaction of $48,043.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 7.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On American Eagle Outfitters

A number of hedge funds have recently bought and sold shares of the business. State of New Jersey Common Pension Fund D increased its holdings in shares of American Eagle Outfitters by 3.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 88,237 shares of the apparel retailer’s stock worth $1,976,000 after buying an additional 3,264 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in American Eagle Outfitters during the third quarter worth approximately $1,827,000. Natixis Advisors LLC increased its stake in American Eagle Outfitters by 514.1% during the third quarter. Natixis Advisors LLC now owns 293,937 shares of the apparel retailer’s stock worth $6,581,000 after acquiring an additional 246,070 shares during the last quarter. Quest Partners LLC raised its position in American Eagle Outfitters by 40.3% during the third quarter. Quest Partners LLC now owns 15,273 shares of the apparel retailer’s stock valued at $342,000 after purchasing an additional 4,384 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of American Eagle Outfitters in the 3rd quarter valued at approximately $141,000. Hedge funds and other institutional investors own 97.33% of the company’s stock.

American Eagle Outfitters Stock Performance

The stock has a market cap of $2.12 billion, a PE ratio of 9.45, a PEG ratio of 0.82 and a beta of 1.57. The stock has a fifty day moving average price of $14.76 and a 200 day moving average price of $17.65.

American Eagle Outfitters Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a $0.125 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.50 annualized dividend and a dividend yield of 4.52%. American Eagle Outfitters’s dividend payout ratio (DPR) is presently 42.74%.

American Eagle Outfitters Company Profile

(Get Free Report)

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.

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