American Eagle Outfitters (NYSE:AEO) Price Target Cut to $20.00 by Analysts at JPMorgan Chase & Co.

American Eagle Outfitters (NYSE:AEO) had its target price cut by research analysts at JPMorgan Chase & Co. from $23.00 to $20.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 20.92% from the stock’s current price.

Several other research analysts have also recently commented on the company. UBS Group reduced their target price on American Eagle Outfitters from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. StockNews.com upgraded shares of American Eagle Outfitters from a “hold” rating to a “buy” rating in a research report on Monday. Bank of America dropped their price target on shares of American Eagle Outfitters from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, December 5th. Barclays decreased their price objective on American Eagle Outfitters from $26.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Finally, Raymond James initiated coverage on American Eagle Outfitters in a report on Friday, December 13th. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.10.

American Eagle Outfitters Trading Down 1.1 %

AEO traded down $0.18 during midday trading on Wednesday, reaching $16.54. The company’s stock had a trading volume of 2,937,612 shares, compared to its average volume of 3,627,304. The company has a fifty day simple moving average of $17.87 and a 200 day simple moving average of $19.67. The stock has a market cap of $3.18 billion, a P/E ratio of 14.14, a PEG ratio of 1.12 and a beta of 1.53. American Eagle Outfitters has a twelve month low of $16.06 and a twelve month high of $26.44.

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

Insider Buying and Selling at American Eagle Outfitters

In other American Eagle Outfitters news, Director Cary D. Mcmillan sold 2,283 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $21.49, for a total transaction of $49,061.67. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 7.30% of the company’s stock.

Institutional Trading of American Eagle Outfitters

A number of hedge funds and other institutional investors have recently modified their holdings of AEO. Congress Asset Management Co. bought a new position in American Eagle Outfitters during the third quarter worth about $119,691,000. Victory Capital Management Inc. boosted its position in American Eagle Outfitters by 40.6% during the third quarter. Victory Capital Management Inc. now owns 4,370,626 shares of the apparel retailer’s stock worth $97,858,000 after purchasing an additional 1,262,693 shares during the period. Jupiter Asset Management Ltd. increased its holdings in shares of 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 purchasing an additional 865,355 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of American Eagle Outfitters in the second quarter valued at about $16,861,000. Finally, American Century Companies Inc. boosted its holdings in shares of American Eagle Outfitters by 18.1% during the second quarter. American Century Companies Inc. now owns 4,472,073 shares of the apparel retailer’s stock worth $89,263,000 after acquiring an additional 684,420 shares during the period. Institutional investors and hedge funds 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.