Citigroup Issues Pessimistic Forecast for American Eagle Outfitters (NYSE:AEO) Stock Price

American Eagle Outfitters (NYSE:AEO) had its price target dropped by Citigroup from $21.00 to $13.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the apparel retailer’s stock. Citigroup’s price objective suggests a potential upside of 1.52% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. Jefferies Financial Group reduced their price target on American Eagle Outfitters from $22.00 to $19.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. JPMorgan Chase & Co. reduced their target price on shares of American Eagle Outfitters from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. BMO Capital Markets dropped their price target on shares of American Eagle Outfitters from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Thursday, December 5th. StockNews.com raised shares of American Eagle Outfitters from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, Bank of America lowered their target price on shares of American Eagle Outfitters from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.70.

American Eagle Outfitters Stock Performance

AEO stock opened at $12.81 on Thursday. The firm has a 50 day simple moving average of $15.38 and a 200 day simple moving average of $18.07. American Eagle Outfitters has a 52 week low of $11.65 and a 52 week high of $26.25. The stock has a market cap of $2.46 billion, a P/E ratio of 10.94, a P/E/G ratio of 0.82 and a beta of 1.57.

American Eagle Outfitters (NYSE:AEO) last released its quarterly earnings data on Wednesday, December 4th. The apparel retailer reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. American Eagle Outfitters had a return on equity of 20.75% and a net margin of 4.28%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the firm earned $0.49 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. Sell-side analysts predict that American Eagle Outfitters will post 1.7 EPS for the current year.

Insider Transactions at American Eagle Outfitters

In related news, Director Cary D. Mcmillan sold 2,999 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $16.02, for a total transaction of $48,043.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 7.30% of the stock is currently owned by corporate insiders.

Institutional Trading of American Eagle Outfitters

A number of hedge funds have recently bought and sold shares of the stock. Millennium Management LLC raised its position in shares of American Eagle Outfitters by 1,510.1% during the fourth quarter. Millennium Management LLC now owns 2,509,057 shares of the apparel retailer’s stock valued at $41,826,000 after buying an additional 2,353,225 shares during the last quarter. Norges Bank acquired a new position in American Eagle Outfitters in the 4th quarter valued at approximately $35,267,000. Victory Capital Management Inc. lifted its position in shares of American Eagle Outfitters by 40.6% in the 3rd quarter. Victory Capital Management Inc. now owns 4,370,626 shares of the apparel retailer’s stock worth $97,858,000 after acquiring an additional 1,262,693 shares during the period. Schonfeld Strategic Advisors LLC lifted its position in shares of American Eagle Outfitters by 2,408.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,244,008 shares of the apparel retailer’s stock worth $20,738,000 after acquiring an additional 1,194,408 shares during the period. Finally, Voloridge Investment Management LLC acquired a new stake in shares of American Eagle Outfitters during the 4th quarter worth approximately $17,558,000. 97.33% of the stock is owned by 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.