American Eagle Outfitters (AEO) Downgraded by Bank of America

Bank of America cut shares of American Eagle Outfitters (NYSE:AEO) from a neutral rating to an underperform rating in a report issued on Thursday, Marketbeat.com reports. They currently have $18.00 price target on the apparel retailer’s stock.

Other equities research analysts also recently issued reports about the stock. ValuEngine downgraded shares of American Eagle Outfitters from a strong-buy rating to a buy rating in a research report on Thursday, August 2nd. Jefferies Financial Group set a $33.00 price target on shares of American Eagle Outfitters and gave the company a buy rating in a research report on Wednesday, July 25th. Zacks Investment Research upgraded shares of American Eagle Outfitters from a hold rating to a buy rating and set a $27.00 price target for the company in a research report on Monday, July 23rd. Loop Capital set a $27.00 price target on shares of American Eagle Outfitters and gave the company a buy rating in a research report on Friday, July 6th. Finally, Citigroup upgraded shares of American Eagle Outfitters from a neutral rating to a buy rating and set a $27.00 price target for the company in a research report on Friday, October 19th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $24.80.

NYSE AEO opened at $22.25 on Thursday. American Eagle Outfitters has a 1-year low of $12.51 and a 1-year high of $29.88. The company has a market capitalization of $3.95 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 1.86 and a beta of 0.81.

American Eagle Outfitters (NYSE:AEO) last released its quarterly earnings results on Wednesday, August 29th. The apparel retailer reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. American Eagle Outfitters had a net margin of 6.49% and a return on equity of 20.24%. The company had revenue of $964.85 million during the quarter, compared to the consensus estimate of $937.98 million. During the same period in the previous year, the business earned $0.19 earnings per share. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. Analysts predict that American Eagle Outfitters will post 1.49 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Friday, October 12th were given a dividend of $0.1375 per share. The ex-dividend date was Thursday, October 11th. This represents a $0.55 annualized dividend and a yield of 2.47%. American Eagle Outfitters’s dividend payout ratio is currently 47.41%.

In other American Eagle Outfitters news, Director Cary D. Mcmillan sold 16,993 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $24.87, for a total transaction of $422,615.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charles F. Kessler sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $28.00, for a total transaction of $280,000.00. Following the transaction, the insider now owns 110,079 shares of the company’s stock, valued at $3,082,212. The disclosure for this sale can be found here. 6.30% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in AEO. Royal Bank of Canada increased its holdings in shares of American Eagle Outfitters by 137.4% during the first quarter. Royal Bank of Canada now owns 59,922 shares of the apparel retailer’s stock worth $1,194,000 after buying an additional 220,086 shares in the last quarter. Xact Kapitalforvaltning AB increased its holdings in shares of American Eagle Outfitters by 46.5% during the first quarter. Xact Kapitalforvaltning AB now owns 24,592 shares of the apparel retailer’s stock worth $490,000 after buying an additional 7,800 shares in the last quarter. CIBC World Markets Inc. acquired a new position in shares of American Eagle Outfitters during the first quarter worth $232,000. Allianz Asset Management GmbH increased its holdings in shares of American Eagle Outfitters by 145.1% during the first quarter. Allianz Asset Management GmbH now owns 689,414 shares of the apparel retailer’s stock worth $13,740,000 after buying an additional 408,174 shares in the last quarter. Finally, Cerebellum GP LLC increased its holdings in shares of American Eagle Outfitters by 42.7% during the second quarter. Cerebellum GP LLC now owns 7,442 shares of the apparel retailer’s stock worth $173,000 after buying an additional 2,226 shares in the last quarter. Institutional investors own 86.66% of the company’s stock.

About American Eagle Outfitters

American Eagle Outfitters, Inc operates as a specialty retailer that provides clothing, accessories, and personal care products under the American Eagle Outfitters and Aerie brands. The company also provides jeans, and other apparel and accessories for men and women; and intimates, activewear, and swim collections, as well as personal care products for women.

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Analyst Recommendations for American Eagle Outfitters (NYSE:AEO)

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