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American Equity Investment Life Holding (NYSE:AEL) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a note issued to investors on Tuesday, StockRatingsNetwork.com reports. The firm currently has a $23.80 target price on the stock. Zacks‘s price objective would suggest a potential upside of 1.41% from the company’s current price.

Shares of American Equity Investment Life Holding (NYSE:AEL) traded up 1.12% on Tuesday, hitting $23.47. 387,803 shares of the company’s stock traded hands. American Equity Investment Life Holding has a 52-week low of $14.46 and a 52-week high of $26.46. The stock’s 50-day moving average is $23.40 and its 200-day moving average is $22.96. The company has a market cap of $1.675 billion and a P/E ratio of 6.87.

American Equity Investment Life Holding (NYSE:AEL) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.50 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.50. The company had revenue of $363.94 million for the quarter, compared to the consensus estimate of $304.00 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis. On average, analysts predict that American Equity Investment Life Holding will post $2.09 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at FBR Capital Markets upgraded shares of American Equity Investment Life Holding from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 20th. They now have a $25.00 price target on the stock. Analysts at Sandler O’Neill upgraded shares of American Equity Investment Life Holding from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $24.56.

American Equity Investment Life Holding Company is engaged in the development and sale of fixed index and fixed rate annuity products.

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