American Eagle Outfitters (NYSE:AEO) Given New $22.00 Price Target at Barclays

American Eagle Outfitters (NYSE:AEO) had its price objective decreased by stock analysts at Barclays from $26.00 to $22.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the apparel retailer’s stock. Barclays‘s price target points to a potential upside of 22.29% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets decreased their price objective on shares of American Eagle Outfitters from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday. Bank of America lowered their price objective on American Eagle Outfitters from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday. Jefferies Financial Group reduced their target price 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. StockNews.com downgraded American Eagle Outfitters from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $23.00 price objective (down from $27.00) on shares of American Eagle Outfitters in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, American Eagle Outfitters has a consensus rating of “Hold” and an average price target of $22.40.

American Eagle Outfitters Price Performance

Shares of American Eagle Outfitters stock opened at $17.99 on Friday. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 15.38, a P/E/G ratio of 1.02 and a beta of 1.51. The stock has a 50-day simple moving average of $19.62 and a 200-day simple moving average of $20.41. American Eagle Outfitters has a 52-week low of $16.88 and a 52-week high of $26.44.

American Eagle Outfitters (NYSE:AEO) last posted its earnings results 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 net margin of 4.28% and a return on equity of 20.80%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the company earned $0.49 earnings per share. The company’s revenue was down .9% compared to the same quarter last year. As a group, equities research analysts predict that American Eagle Outfitters will post 1.74 earnings per share for the current year.

Insider Activity

In other news, Director Cary D. Mcmillan sold 2,283 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $21.49, for a total value of $49,061.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jay L. Schottenstein sold 999,999 shares of American Eagle Outfitters stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $20.04, for a total transaction of $20,039,979.96. Following the sale, the chief executive officer now owns 1,771,851 shares in the company, valued at approximately $35,507,894.04. This trade represents a 36.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,050,702 shares of company stock valued at $21,148,718. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AEO. Franklin Resources Inc. raised its holdings in shares of American Eagle Outfitters by 2.2% in the 3rd quarter. Franklin Resources Inc. now owns 688,869 shares of the apparel retailer’s stock worth $14,266,000 after buying an additional 15,038 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in American Eagle Outfitters in the third quarter valued at $141,000. Barclays PLC raised its stake in American Eagle Outfitters by 51.8% during the third quarter. Barclays PLC now owns 298,263 shares of the apparel retailer’s stock worth $6,679,000 after acquiring an additional 101,795 shares in the last quarter. Zacks Investment Management bought a new position in shares of American Eagle Outfitters during the third quarter valued at $931,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of American Eagle Outfitters in the 3rd quarter valued at $390,000. Institutional investors own 97.33% of the company’s stock.

About American Eagle Outfitters

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.