JPMorgan Chase & Co. Has Lowered Expectations for American Eagle Outfitters (NYSE:AEO) Stock Price

American Eagle Outfitters (NYSE:AEO) had its price objective cut by equities researchers at JPMorgan Chase & Co. from $19.00 to $15.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 35.69% from the company’s previous close.

A number of other brokerages have also weighed in on AEO. Bank of America reduced their price objective on 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. Telsey Advisory Group reduced 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 report on Thursday. StockNews.com lowered American Eagle Outfitters from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. Morgan Stanley reduced their price objective on American Eagle Outfitters from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Citigroup set a $13.00 price target on American Eagle Outfitters and gave the company a “neutral” rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, American Eagle Outfitters has a consensus rating of “Hold” and a consensus price target of $16.00.

American Eagle Outfitters Stock Performance

American Eagle Outfitters stock opened at $11.06 on Thursday. The stock has a market capitalization of $2.12 billion, a P/E ratio of 9.45, a price-to-earnings-growth ratio of 0.82 and a beta of 1.57. American Eagle Outfitters has a 52 week low of $10.74 and a 52 week high of $26.25. The stock has a fifty day moving average of $14.76 and a 200-day moving average of $17.65.

Insider Activity at American Eagle Outfitters

In related news, Director Cary D. Mcmillan sold 2,999 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was 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 accessible through this hyperlink. 7.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American Eagle Outfitters

Several institutional investors and hedge funds have recently made changes to their positions in AEO. Millennium Management LLC boosted its position in shares of American Eagle Outfitters by 1,510.1% during the 4th quarter. Millennium Management LLC now owns 2,509,057 shares of the apparel retailer’s stock valued at $41,826,000 after purchasing an additional 2,353,225 shares in the last quarter. Norges Bank acquired a new position in American Eagle Outfitters during the 4th quarter worth approximately $35,267,000. Victory Capital Management Inc. raised its stake in American Eagle Outfitters by 40.6% during the 3rd quarter. Victory Capital Management Inc. now owns 4,370,626 shares of the apparel retailer’s stock worth $97,858,000 after buying an additional 1,262,693 shares during the period. Schonfeld Strategic Advisors LLC raised its stake in American Eagle Outfitters by 2,408.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,244,008 shares of the apparel retailer’s stock worth $20,738,000 after buying an additional 1,194,408 shares during the period. Finally, Voloridge Investment Management LLC acquired a new position in American Eagle Outfitters during the 4th quarter worth approximately $17,558,000. Institutional investors own 97.33% of the company’s stock.

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.