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

American Eagle Outfitters, Inc. (NYSE:AEO) 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.

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

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.