American Eagle Outfitters (NYSE:AEO) Cut to “Neutral” at JPMorgan Chase & Co.

American Eagle Outfitters (NYSE:AEO – Get Rating) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Friday, The Fly reports. They currently have a $15.00 price target on the apparel retailer’s stock, down from their previous price target of $20.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 6.99% from the company’s previous close.

A number of other research firms have also issued reports on AEO. B. Riley reduced their price target on American Eagle Outfitters from $41.00 to $32.00 and set a “na” rating on the stock in a research report on Tuesday, May 17th. Telsey Advisory Group dropped their price target on American Eagle Outfitters from $31.00 to $25.00 and set a “market perform” rating on the stock in a research note on Thursday, March 3rd. Jefferies Financial Group decreased their price target on American Eagle Outfitters from $42.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, March 3rd. UBS Group decreased their target price on shares of American Eagle Outfitters to $34.00 and set a “na” rating on the stock in a research report on Wednesday, May 18th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on American Eagle Outfitters from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, March 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $25.43.

Shares of AEO opened at $14.02 on Friday. The stock has a 50 day moving average price of $15.81 and a 200 day moving average price of $20.79. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 6.91, a PEG ratio of 0.59 and a beta of 1.32. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.00 and a current ratio of 1.66. American Eagle Outfitters has a one year low of $11.61 and a one year high of $38.99.

American Eagle Outfitters (NYSE:AEO – Get Rating) last announced its quarterly earnings results on Thursday, May 26th. The apparel retailer reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.09). American Eagle Outfitters had a return on equity of 34.33% and a net margin of 8.37%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business earned $0.48 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts predict that American Eagle Outfitters will post 1.96 earnings per share for the current year.

In other news, Director Steven A. Davis acquired 5,500 shares of the stock in a transaction on Tuesday, March 8th. The shares were purchased at an average cost of $18.12 per share, for a total transaction of $99,660.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Andrew J. Mclean sold 24,958 shares of the stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $18.00, for a total value of $449,244.00. Following the completion of the sale, the executive vice president now directly owns 53,343 shares of the company’s stock, valued at $960,174. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace LLP acquired a new stake in shares of American Eagle Outfitters in the first quarter worth $198,000. FMR LLC grew its position in shares of American Eagle Outfitters by 80.5% in the first quarter. FMR LLC now owns 2,152,703 shares of the apparel retailer’s stock valued at $47,726,000 after purchasing an additional 960,273 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in shares of American Eagle Outfitters by 2.6% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 94,990 shares of the apparel retailer’s stock worth $2,106,000 after purchasing an additional 2,374 shares during the period. Morgan Stanley lifted its position in shares of American Eagle Outfitters by 29.3% during the 2nd quarter. Morgan Stanley now owns 528,770 shares of the apparel retailer’s stock worth $19,845,000 after purchasing an additional 119,804 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of American Eagle Outfitters by 228.0% during the third quarter. Allianz Asset Management GmbH now owns 34,599 shares of the apparel retailer’s stock worth $893,000 after buying an additional 24,050 shares during the last quarter.

American Eagle Outfitters Company Profile (Get Rating)

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

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