American Eagle Outfitters (AEO) Upgraded to Buy at Citigroup

Citigroup upgraded shares of American Eagle Outfitters (NYSE:AEO) from a neutral rating to a buy rating in a research report released on Friday morning, Marketbeat reports. Citigroup currently has $27.00 price target on the apparel retailer’s stock.

Several other research analysts have also recently commented on the stock. ValuEngine cut shares of American Eagle Outfitters from a strong-buy rating to a buy rating in a report on Thursday, August 2nd. UBS Group raised their target price on shares of American Eagle Outfitters from $33.00 to $34.00 and gave the stock a buy rating in a report on Thursday, August 30th. Jefferies Financial Group set a $33.00 target price on shares of American Eagle Outfitters and gave the stock a buy rating in a report on Wednesday, July 25th. Bank of America raised their target price on shares of American Eagle Outfitters from $24.00 to $27.00 and gave the stock a neutral rating in a report on Thursday, August 30th. Finally, Wedbush upgraded shares of American Eagle Outfitters from a neutral rating to an outperform rating and set a $29.00 target price for the company in a report on Monday, October 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $25.40.

Shares of NYSE:AEO traded up $0.06 during trading hours on Friday, hitting $21.00. 5,658,172 shares of the company’s stock traded hands, compared to its average volume of 4,544,686. American Eagle Outfitters has a 52 week low of $12.51 and a 52 week high of $29.88. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 1.75 and a beta of 0.83.

American Eagle Outfitters (NYSE:AEO) last posted its quarterly earnings data on Wednesday, August 29th. The apparel retailer reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.03. American Eagle Outfitters had a net margin of 6.49% and a return on equity of 20.24%. The company had revenue of $964.85 million during the quarter, compared to analyst estimates of $937.98 million. During the same quarter last year, the firm posted $0.19 EPS. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, equities analysts forecast that American Eagle Outfitters will post 1.5 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Friday, October 12th will be issued a $0.1375 dividend. This represents a $0.55 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Thursday, October 11th. American Eagle Outfitters’s payout ratio is 47.41%.

In other news, Director Cary D. Mcmillan sold 16,993 shares of the stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $24.87, for a total value of $422,615.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles F. Kessler sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $28.00, for a total transaction of $280,000.00. Following the completion of the sale, the insider now directly owns 110,079 shares of the company’s stock, valued at $3,082,212. The disclosure for this sale can be found here. Company insiders own 6.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cornerstone Wealth Management LLC purchased a new stake in shares of American Eagle Outfitters in the third quarter worth approximately $273,000. Aperio Group LLC lifted its position in shares of American Eagle Outfitters by 1.1% in the third quarter. Aperio Group LLC now owns 314,749 shares of the apparel retailer’s stock worth $7,815,000 after purchasing an additional 3,516 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in shares of American Eagle Outfitters in the third quarter worth approximately $4,355,000. Nisa Investment Advisors LLC lifted its position in shares of American Eagle Outfitters by 30.1% in the third quarter. Nisa Investment Advisors LLC now owns 45,400 shares of the apparel retailer’s stock worth $1,127,000 after purchasing an additional 10,500 shares in the last quarter. Finally, Gateway Investment Advisers LLC lifted its position in shares of American Eagle Outfitters by 2.9% in the third quarter. Gateway Investment Advisers LLC now owns 308,753 shares of the apparel retailer’s stock worth $7,666,000 after purchasing an additional 8,641 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

About American Eagle Outfitters

American Eagle Outfitters, Inc operates as a specialty retailer that provides clothing, accessories, and personal care products under the American Eagle Outfitters and Aerie brands. The company also provides jeans, and other apparel and accessories for men and women; and intimates, activewear, and swim collections, as well as personal care products for women.

Further Reading: Price to Earnings Ratio (PE)

Analyst Recommendations for American Eagle Outfitters (NYSE:AEO)

Receive News & Ratings for American Eagle Outfitters Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Eagle Outfitters and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply