Bank of America Reaffirms “Underperform” Rating for American Eagle Outfitters (NYSE:AEO)

American Eagle Outfitters (NYSE:AEO)‘s stock had its “underperform” rating reissued by equities researchers at Bank of America in a research note issued to investors on Friday,Benzinga reports. They presently have a $16.00 price target on the apparel retailer’s stock. Bank of America‘s price objective points to a potential downside of 1.99% from the company’s current price.

Several other analysts have also recently commented on the stock. William Blair reiterated a “buy” rating on shares of American Eagle Outfitters in a research note on Wednesday, July 15th. The Goldman Sachs Group set a $22.00 target price on shares of American Eagle Outfitters in a research report on Monday, June 1st. JPMorgan Chase & Co. dropped their target price on shares of American Eagle Outfitters from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, May 29th. UBS Group reissued a “buy” rating on shares of American Eagle Outfitters in a research note on Wednesday, July 15th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $18.00 price target on shares of American Eagle Outfitters in a report on Monday, July 6th. Two analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.91.

American Eagle Outfitters Price Performance

AEO stock traded up $0.03 on Friday, reaching $16.32. 1,859,775 shares of the company’s stock were exchanged, compared to its average volume of 5,346,640. The stock has a fifty day moving average of $17.37 and a 200-day moving average of $18.61. The firm has a market cap of $2.74 billion, a PE ratio of 10.06, a P/E/G ratio of 3.55 and a beta of 1.32. The company has a quick ratio of 0.53, a current ratio of 1.55 and a debt-to-equity ratio of 0.05. American Eagle Outfitters has a twelve month low of $12.05 and a twelve month high of $28.46.

American Eagle Outfitters (NYSE:AEO) last released its earnings results on Thursday, May 28th. The apparel retailer reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.18 billion. American Eagle Outfitters had a return on equity of 20.95% and a net margin of 5.01%.American Eagle Outfitters’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.29) earnings per share. As a group, equities analysts predict that American Eagle Outfitters will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other American Eagle Outfitters news, Director Cary D. Mcmillan sold 2,892 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $16.77, for a total value of $48,498.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Noel Joseph Spiegel sold 2,892 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $16.78, for a total transaction of $48,527.76. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 11,563 shares of company stock worth $196,599. Insiders own 8.95% of the company’s stock.

Institutional Investors Weigh In On American Eagle Outfitters

Large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its holdings in shares of American Eagle Outfitters by 31.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,852 shares of the apparel retailer’s stock worth $49,000 after acquiring an additional 447 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of American Eagle Outfitters by 2.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 25,363 shares of the apparel retailer’s stock valued at $669,000 after acquiring an additional 510 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of American Eagle Outfitters by 31.9% during the first quarter. EverSource Wealth Advisors LLC now owns 2,870 shares of the apparel retailer’s stock valued at $48,000 after acquiring an additional 694 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in American Eagle Outfitters by 1.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,817 shares of the apparel retailer’s stock worth $989,000 after purchasing an additional 731 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in American Eagle Outfitters by 3.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 24,847 shares of the apparel retailer’s stock worth $655,000 after purchasing an additional 734 shares in the last quarter. Institutional investors and hedge funds own 97.33% of the company’s stock.

American Eagle Outfitters Company Profile

American Eagle Outfitters, Inc (NYSE: AEO) is a leading American specialty retailer offering apparel, accessories and personal care products for men and women. The company’s flagship brand, American Eagle, focuses on casualwear including denim, tops, outerwear and accessories targeted primarily at teens and young adults. In addition to its core apparel lines, the company operates the Aerie brand of intimates, loungewear and swimwear, which has gained recognition for its body-positive marketing and inclusive sizing.

American Eagle Outfitters conducts business through a combination of over 900 brick-and-mortar stores in North America and Greater China, complemented by a growing e-commerce platform that serves customers around the globe.