American Eagle Outfitters (NYSE:AEO) Stock Price Down 2% After Analyst Downgrade

Shares of American Eagle Outfitters, Inc. (NYSE:AEO) were down 2% on Friday after Bank of America lowered their price target on the stock from $18.00 to $13.00. Bank of America currently has a neutral rating on the stock. American Eagle Outfitters traded as low as $10.79 and last traded at $10.77. Approximately 1,721,860 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 4,628,719 shares. The stock had previously closed at $10.98.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. decreased their target price on American Eagle Outfitters from $19.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday. Telsey Advisory Group decreased their target price on American Eagle Outfitters from $18.00 to $12.00 and set a “market perform” rating for the company in a research report on Thursday. UBS Group cut their price target on American Eagle Outfitters from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday. Citigroup set a $13.00 price target on American Eagle Outfitters and gave the company a “neutral” rating in a research note on Tuesday. Finally, StockNews.com downgraded American Eagle Outfitters from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $16.00.

Insider Transactions at American Eagle Outfitters

In related news, Director Cary D. Mcmillan sold 2,999 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $16.02, for a total value of $48,043.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On American Eagle Outfitters

Several institutional investors have recently bought and sold shares of AEO. Blue Trust Inc. lifted its stake in American Eagle Outfitters by 95.7% in the fourth quarter. Blue Trust Inc. now owns 1,916 shares of the apparel retailer’s stock valued at $32,000 after purchasing an additional 937 shares during the last quarter. Huntington National Bank lifted its stake in American Eagle Outfitters by 258.8% in the fourth quarter. Huntington National Bank now owns 2,045 shares of the apparel retailer’s stock valued at $34,000 after purchasing an additional 1,475 shares during the last quarter. Principal Securities Inc. lifted its stake in American Eagle Outfitters by 2,239.1% in the fourth quarter. Principal Securities Inc. now owns 2,573 shares of the apparel retailer’s stock valued at $43,000 after purchasing an additional 2,463 shares during the last quarter. Park Place Capital Corp purchased a new position in American Eagle Outfitters in the fourth quarter valued at approximately $45,000. Finally, State of Wyoming purchased a new position in American Eagle Outfitters in the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 97.33% of the company’s stock.

American Eagle Outfitters Trading Up 0.7 %

The business’s fifty day simple moving average is $14.76 and its 200-day simple moving average is $17.61. The firm has a market cap of $2.12 billion, a P/E ratio of 9.45, a PEG ratio of 0.82 and a beta of 1.57.

American Eagle Outfitters Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a $0.125 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.50 annualized dividend and a dividend yield of 4.52%. American Eagle Outfitters’s payout ratio is currently 29.76%.

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.