Insider Buying: American Eagle Outfitters Chairman Acquires 500,000 Shares of Stock (AEO)
American Eagle Outfitters (NYSE:AEO) Chairman Jay L. Schottenstein purchased 500,000 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was purchased at an average cost of $12.84 per share, for a total transaction of $6,420,000.00. Following the completion of the purchase, the chairman now directly owns 938,091 shares in the company, valued at approximately $12,045,088. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of American Eagle Outfitters (NYSE:AEO) traded up 2.90% on Monday, hitting $13.14. The stock had a trading volume of 12,002,578 shares. American Eagle Outfitters has a 1-year low of $12.76 and a 1-year high of $22.63. The stock’s 50-day moving average is $14.51 and its 200-day moving average is $15.55. The company has a market cap of $2.533 billion and a P/E ratio of 15.06.
American Eagle Outfitters (NYSE:AEO) last posted its quarterly earnings results on Friday, December 6th. The company reported $0.19 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.19. The company had revenue of $857.00 million for the quarter, compared to the consensus estimate of $844.76 million. During the same quarter last year, the company posted $0.41 earnings per share. American Eagle Outfitters’s revenue was down 5.8% compared to the same quarter last year. Analysts expect that American Eagle Outfitters will post $0.73 EPS for the current fiscal year.
A number of analysts have recently weighed in on AEO shares. Analysts at Jefferies Group reiterated a “buy” rating on shares of American Eagle Outfitters in a research note to investors on Thursday. Separately, analysts at Telsey Advisory Group cut their price target on shares of American Eagle Outfitters from $16.50 to $15.00 in a research note to investors on Thursday. They now have a “not rated” rating on the stock. Finally, analysts at Stifel Nicolaus downgraded shares of American Eagle Outfitters from a “buy” rating to a “hold” rating in a research note to investors on Thursday. They now have a $18.00 price target on the stock, up previously from $14.31. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the company. American Eagle Outfitters presently has a consensus rating of “Hold” and an average target price of $18.21.
American Eagle Outfitters, Inc (NYSE:AEO) is a specialty retailer that operates in the United Sates and Canada, and online at ae.
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