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

American Eagle Outfitters (NYSE:AEO) had its price objective cut by research analysts at Morgan Stanley from $16.00 to $12.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the apparel retailer’s stock. Morgan Stanley’s price objective points to a potential upside of 8.55% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. StockNews.com cut shares of American Eagle Outfitters from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. BMO Capital Markets reissued a “market perform” rating and issued a $15.00 price objective (down from $19.00) on shares of American Eagle Outfitters in a research report on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of American Eagle Outfitters from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Citigroup set a $13.00 target price on shares of American Eagle Outfitters and gave the company a “neutral” rating in a research report on Tuesday. Finally, Raymond James assumed coverage on shares of American Eagle Outfitters in a research report on Friday, December 13th. They issued a “market perform” rating on the stock. Eleven investment 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, the stock presently has an average rating of “Hold” and a consensus price target of $16.00.

American Eagle Outfitters Trading Up 0.7 %

Shares of NYSE AEO opened at $11.06 on Thursday. American Eagle Outfitters has a 12-month low of $10.74 and a 12-month high of $26.25. The stock has a market cap of $2.12 billion, a PE ratio of 9.45, a P/E/G ratio of 0.82 and a beta of 1.57. The company has a 50-day moving average of $14.76 and a 200 day moving average of $17.65.

Insider Buying and Selling at American Eagle Outfitters

In other news, Director Cary D. Mcmillan sold 2,999 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $16.02, for a total transaction of $48,043.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.30% of the stock is owned by insiders.

Hedge Funds Weigh In On American Eagle Outfitters

A number of institutional investors and hedge funds have recently bought and sold shares of AEO. Millennium Management LLC grew its position in American Eagle Outfitters by 1,510.1% in the 4th 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 in the last quarter. Norges Bank acquired a new position in shares of American Eagle Outfitters in the 4th quarter valued at about $35,267,000. Victory Capital Management Inc. increased its holdings 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 valued at $97,858,000 after purchasing an additional 1,262,693 shares during the period. Schonfeld Strategic Advisors LLC increased its holdings 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 valued at $20,738,000 after purchasing an additional 1,194,408 shares during the period. Finally, Voloridge Investment Management LLC acquired a new position in shares of American Eagle Outfitters in the 4th quarter valued at about $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.