Bank of America Cuts American Eagle Outfitters (NYSE:AEO) Price Target to $18.00

American Eagle Outfitters (NYSE:AEO) had its price objective reduced by stock analysts at Bank of America from $21.00 to $18.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the apparel retailer’s stock. Bank of America‘s price objective would indicate a potential upside of 12.78% from the company’s current price.

Several other research analysts have also commented on the stock. Raymond James initiated coverage on shares of American Eagle Outfitters in a research note on Friday, December 13th. They set a “market perform” rating for the company. JPMorgan Chase & Co. reduced their price target on American Eagle Outfitters from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. StockNews.com cut American Eagle Outfitters from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group dropped their target price on American Eagle Outfitters from $22.00 to $19.00 and set a “hold” rating on the stock in a research note on Tuesday, November 12th. Finally, Telsey Advisory Group decreased their price target on American Eagle Outfitters from $20.00 to $18.00 and set a “market perform” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.60.

American Eagle Outfitters Trading Up 3.0 %

Shares of NYSE:AEO opened at $15.96 on Wednesday. The company has a market capitalization of $3.07 billion, a PE ratio of 13.64, a P/E/G ratio of 1.12 and a beta of 1.53. American Eagle Outfitters has a 12-month low of $15.36 and a 12-month high of $26.44. The business’s fifty day simple moving average is $17.61 and its 200-day simple moving average is $19.54.

American Eagle Outfitters (NYSE:AEO) last announced its earnings results on Wednesday, December 4th. The apparel retailer reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.30 billion. American Eagle Outfitters had a net margin of 4.28% and a return on equity of 20.75%. The firm’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. Research analysts predict that American Eagle Outfitters will post 1.69 EPS for the current year.

Hedge Funds Weigh In On American Eagle Outfitters

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Hennessy Advisors Inc. boosted its holdings in shares of American Eagle Outfitters by 6.8% in the 4th quarter. Hennessy Advisors Inc. now owns 385,800 shares of the apparel retailer’s stock valued at $6,431,000 after acquiring an additional 24,600 shares during the last quarter. Legacy Wealth Asset Management LLC acquired a new position in American Eagle Outfitters during the fourth quarter valued at $185,000. Hennion & Walsh Asset Management Inc. lifted its position in American Eagle Outfitters by 9.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 39,534 shares of the apparel retailer’s stock valued at $659,000 after purchasing an additional 3,267 shares during the period. Park Avenue Securities LLC purchased a new stake in American Eagle Outfitters in the fourth quarter valued at $195,000. Finally, Signet Financial Management LLC acquired a new stake in American Eagle Outfitters during the 4th quarter worth about $215,000. Institutional investors and hedge funds own 97.33% of the company’s stock.

American Eagle Outfitters Company Profile

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.