American Eagle Outfitters (NYSE:AEO) Given New $21.00 Price Target at Bank of America

American Eagle Outfitters (NYSE:AEO) had its target price decreased by Bank of America from $25.00 to $21.00 in a report released on Thursday morning,Benzinga reports. Bank of America currently has a neutral rating on the apparel retailer’s stock.

Other equities analysts also recently issued reports about the stock. TD Cowen dropped their price target on shares of American Eagle Outfitters from $25.00 to $23.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Telsey Advisory Group dropped their price target on shares of American Eagle Outfitters from $23.00 to $20.00 and set a “market perform” rating on the stock in a research note on Thursday. Jefferies Financial Group decreased their price objective on shares of American Eagle Outfitters from $22.00 to $19.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. UBS Group decreased their price objective on shares of American Eagle Outfitters from $35.00 to $34.00 and set a “buy” rating for the company in a report on Friday, August 30th. Finally, Barclays decreased their price objective on shares of American Eagle Outfitters from $32.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, American Eagle Outfitters has a consensus rating of “Hold” and an average price target of $22.80.

American Eagle Outfitters Stock Performance

American Eagle Outfitters stock opened at $17.62 on Thursday. The company has a 50 day moving average price of $19.77 and a 200 day moving average price of $20.50. American Eagle Outfitters has a 52 week low of $16.88 and a 52 week high of $26.44. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 15.06, a P/E/G ratio of 0.99 and a beta of 1.51.

American Eagle Outfitters (NYSE:AEO) last posted its quarterly earnings data on Wednesday, December 4th. The apparel retailer reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. American Eagle Outfitters had a net margin of 4.58% and a return on equity of 20.98%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the business posted $0.49 EPS. The company’s revenue was down .9% on a year-over-year basis. Equities analysts forecast that American Eagle Outfitters will post 1.77 earnings per share for the current fiscal year.

American Eagle Outfitters Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Friday, October 11th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend was Friday, October 11th. American Eagle Outfitters’s payout ratio is presently 42.74%.

Insider Buying and Selling

In other news, Director Cary D. Mcmillan sold 2,283 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $21.49, for a total transaction of $49,061.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay L. Schottenstein sold 999,999 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $20.04, for a total transaction of $20,039,979.96. Following the sale, the chief executive officer now directly owns 1,771,851 shares of the company’s stock, valued at approximately $35,507,894.04. The trade was a 36.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,050,702 shares of company stock valued at $21,148,718 over the last quarter. Corporate insiders own 7.30% of the company’s stock.

Institutional Trading of American Eagle Outfitters

Several hedge funds have recently modified their holdings of AEO. Congress Asset Management Co. bought a new stake in shares of American Eagle Outfitters during the third quarter valued at approximately $119,691,000. Victory Capital Management Inc. boosted its stake in American Eagle Outfitters by 165.4% in the second quarter. Victory Capital Management Inc. now owns 3,107,933 shares of the apparel retailer’s stock valued at $62,034,000 after acquiring an additional 1,936,938 shares during the last quarter. Principal Financial Group Inc. boosted its stake in American Eagle Outfitters by 179.1% in the second quarter. Principal Financial Group Inc. now owns 2,691,474 shares of the apparel retailer’s stock valued at $53,722,000 after acquiring an additional 1,726,982 shares during the last quarter. Jupiter Asset Management Ltd. boosted its stake in American Eagle Outfitters by 36.4% in the second quarter. Jupiter Asset Management Ltd. now owns 3,242,838 shares of the apparel retailer’s stock valued at $64,727,000 after acquiring an additional 865,355 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in American Eagle Outfitters in the second quarter valued at approximately $16,861,000. 97.33% of the stock is owned by institutional investors.

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.