American Eagle Outfitters (NYSE:AEO) Stock Price Down 2% After Analyst Downgrade

American Eagle Outfitters, Inc. (NYSE:AEO)’s share price dropped 2% during mid-day trading on Friday after Bank of America lowered their price target on the stock from $18.00 to $13.00. Bank of America currently has a neutral rating on the stock. American Eagle Outfitters traded as low as $10.79 and last traded at $10.77. Approximately 1,721,860 shares changed hands during trading, a decline of 63% from the average daily volume of 4,628,719 shares. The stock had previously closed at $10.98.

AEO has been the subject of a number of other research reports. StockNews.com cut shares of American Eagle Outfitters from a “buy” rating to a “hold” rating in a report on Monday. BMO Capital Markets reissued a “market perform” rating and issued a $15.00 price target (down previously from $19.00) on shares of American Eagle Outfitters in a report on Tuesday. Telsey Advisory Group dropped their price objective on American Eagle Outfitters from $18.00 to $12.00 and set a “market perform” rating on the stock in a research note on Thursday. Morgan Stanley decreased their target price on American Eagle Outfitters from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. dropped their price target on American Eagle Outfitters from $19.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.00.

Insider Buying and Selling

In other news, Director Cary D. Mcmillan sold 2,999 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $16.02, for a total value of $48,043.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 7.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American Eagle Outfitters

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D increased its position in shares of American Eagle Outfitters by 3.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 88,237 shares of the apparel retailer’s stock valued at $1,976,000 after acquiring an additional 3,264 shares during the last quarter. Aigen Investment Management LP bought a new position in American Eagle Outfitters in the third quarter valued at approximately $706,000. Victory Capital Management Inc. increased its position in shares of American Eagle Outfitters by 40.6% during the 3rd 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 last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of American Eagle Outfitters during the 3rd quarter worth approximately $1,827,000. Finally, Natixis Advisors LLC raised its stake in shares of American Eagle Outfitters by 514.1% during the 3rd quarter. Natixis Advisors LLC now owns 293,937 shares of the apparel retailer’s stock worth $6,581,000 after purchasing an additional 246,070 shares in the last quarter. 97.33% of the stock is owned by institutional investors.

American Eagle Outfitters Stock Performance

The company has a market cap of $2.07 billion, a price-to-earnings ratio of 9.20, a P/E/G ratio of 0.82 and a beta of 1.57. The firm has a fifty day moving average price of $15.01 and a 200 day moving average price of $17.78.

American Eagle Outfitters Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.63%. American Eagle Outfitters’s payout ratio is 42.74%.

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.