Bank of America Forecasts Strong Price Appreciation for American Eagle Outfitters (NYSE:AEO) Stock

American Eagle Outfitters (NYSE:AEO) had its target price boosted by investment analysts at Bank of America from $11.00 to $18.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underperform” rating on the apparel retailer’s stock. Bank of America‘s price target points to a potential downside of 25.77% from the company’s previous close.

A number of other brokerages also recently weighed in on AEO. UBS Group boosted their price target on American Eagle Outfitters from $22.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Financial Group lifted their target price on American Eagle Outfitters from $11.00 to $17.00 and gave the stock a “hold” rating in a research note on Thursday, September 4th. Morgan Stanley boosted their target price on American Eagle Outfitters from $10.00 to $17.00 and gave the stock an “equal weight” rating in a report on Thursday, September 18th. Telsey Advisory Group increased their price target on American Eagle Outfitters from $18.00 to $25.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, Barclays lifted their price objective on shares of American Eagle Outfitters from $14.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.10.

American Eagle Outfitters Stock Performance

Shares of AEO stock opened at $24.25 on Wednesday. The company has a fifty day moving average price of $17.40 and a two-hundred day moving average price of $14.14. American Eagle Outfitters has a one year low of $9.27 and a one year high of $24.66. The stock has a market cap of $4.11 billion, a P/E ratio of 20.91 and a beta of 1.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.63 and a quick ratio of 0.71.

American Eagle Outfitters (NYSE:AEO) last released its quarterly earnings data on Tuesday, December 2nd. The apparel retailer reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.10. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.32 billion. American Eagle Outfitters had a net margin of 3.90% and a return on equity of 13.82%. American Eagle Outfitters’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 EPS. As a group, equities analysts predict that American Eagle Outfitters will post 1.7 EPS for the current year.

Insider Activity at American Eagle Outfitters

In related news, Director Cary D. Mcmillan sold 2,945 shares of the firm’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $16.95, for a total transaction of $49,917.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Noel Joseph Spiegel sold 40,000 shares of American Eagle Outfitters stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $18.12, for a total transaction of $724,800.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 138,766 shares of company stock valued at $2,515,354. 8.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On American Eagle Outfitters

Institutional investors and hedge funds have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL grew its stake in American Eagle Outfitters by 50.0% during the third quarter. Strategic Investment Solutions Inc. IL now owns 1,500 shares of the apparel retailer’s stock worth $26,000 after buying an additional 500 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of American Eagle Outfitters by 4.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 14,855 shares of the apparel retailer’s stock valued at $254,000 after buying an additional 678 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of 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 acquiring an additional 731 shares during the period. Amalgamated Bank lifted its holdings in shares of American Eagle Outfitters by 1.6% during the 3rd quarter. Amalgamated Bank now owns 46,282 shares of the apparel retailer’s stock worth $792,000 after acquiring an additional 742 shares during the period. Finally, NFJ Investment Group LLC boosted its position in shares of American Eagle Outfitters by 0.7% during the 1st quarter. NFJ Investment Group LLC now owns 119,074 shares of the apparel retailer’s stock worth $1,384,000 after acquiring an additional 845 shares in the last quarter. 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.