American Eagle Outfitters (NYSE:AEO) Price Target Cut to $13.00 by Analysts at Bank of America

American Eagle Outfitters (NYSE:AEO) had its target price decreased by Bank of America from $18.00 to $13.00 in a research note published on Friday morning,Benzinga reports. Bank of America currently has a neutral rating on the apparel retailer’s stock.

Several other brokerages have also recently commented on AEO. BMO Capital Markets reaffirmed a “market perform” rating and set a $15.00 target price (down from $19.00) on shares of American Eagle Outfitters in a report on Tuesday. JPMorgan Chase & Co. lowered their target price on shares of American Eagle Outfitters from $19.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday. Raymond James started coverage on shares of American Eagle Outfitters in a report on Friday, December 13th. They set a “market perform” rating on the stock. Morgan Stanley lowered their target price on shares of American Eagle Outfitters from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Barclays cut shares of American Eagle Outfitters from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $17.00 to $10.00 in a report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, American Eagle Outfitters has a consensus rating of “Hold” and an average target price of $16.00.

American Eagle Outfitters Trading Up 0.7 %

Shares of AEO opened at $11.06 on Friday. American Eagle Outfitters has a 12 month low of $10.74 and a 12 month high of $26.25. The firm’s 50 day moving average is $14.76 and its 200-day moving average is $17.65. The stock has a market capitalization of $2.12 billion, a PE ratio of 9.45, a P/E/G ratio of 0.82 and a beta of 1.57.

American Eagle Outfitters Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, April 11th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.52%. American Eagle Outfitters’s payout ratio is presently 42.74%.

Insiders Place Their Bets

In other news, Director Cary D. Mcmillan sold 2,999 shares of American Eagle Outfitters stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $16.02, for a total transaction of $48,043.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On American Eagle Outfitters

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of American Eagle Outfitters by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,223,953 shares of the apparel retailer’s stock worth $170,431,000 after purchasing an additional 413,193 shares during the period. Wellington Management Group LLP lifted its holdings in shares of American Eagle Outfitters by 1.9% during the fourth quarter. Wellington Management Group LLP now owns 9,933,628 shares of the apparel retailer’s stock worth $165,594,000 after purchasing an additional 184,067 shares during the period. American Century Companies Inc. lifted its holdings in shares of American Eagle Outfitters by 9.4% during the fourth quarter. American Century Companies Inc. now owns 5,505,340 shares of the apparel retailer’s stock worth $91,774,000 after purchasing an additional 472,683 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of American Eagle Outfitters by 8.4% during the third quarter. Principal Financial Group Inc. now owns 2,918,295 shares of the apparel retailer’s stock worth $65,341,000 after purchasing an additional 226,821 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of American Eagle Outfitters by 15.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,877,963 shares of the apparel retailer’s stock worth $47,976,000 after purchasing an additional 381,047 shares during the period. 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.