American Eagle Outfitters (NYSE:AEO) Shares Gap Down After Analyst Downgrade

American Eagle Outfitters, Inc. (NYSE:AEO – Get Rating)’s share price gapped down prior to trading on Thursday after BMO Capital Markets lowered their price target on the stock from $14.00 to $10.00. The stock had previously closed at $12.07, but opened at $10.09. American Eagle Outfitters shares last traded at $10.18, with a volume of 3,312,107 shares.

Several other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of American Eagle Outfitters from $14.00 to $15.00 in a research note on Monday, May 8th. Jefferies Financial Group lowered their price objective on shares of American Eagle Outfitters from $16.00 to $14.00 in a research note on Tuesday, May 9th. Deutsche Bank Aktiengesellschaft reduced their target price on American Eagle Outfitters from $17.00 to $14.00 in a research report on Thursday. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $17.00 target price on shares of American Eagle Outfitters in a research report on Thursday, March 2nd. Finally, StockNews.com assumed coverage on American Eagle Outfitters in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $13.38.

Insider Buying and Selling at American Eagle Outfitters

In other news, EVP Michael R. Rempell sold 12,510 shares of the firm’s stock in a transaction on Monday, March 27th. The stock was sold at an average price of $13.13, for a total value of $164,256.30. Following the completion of the sale, the executive vice president now directly owns 172,003 shares in the company, valued at $2,258,399.39. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Michael R. Rempell sold 5,761 shares of American Eagle Outfitters stock in a transaction dated Friday, March 31st. The stock was sold at an average price of $13.33, for a total value of $76,794.13. Following the completion of the sale, the executive vice president now directly owns 172,003 shares in the company, valued at $2,292,799.99. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael R. Rempell sold 12,510 shares of American Eagle Outfitters stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $13.13, for a total value of $164,256.30. Following the completion of the sale, the executive vice president now owns 172,003 shares of the company’s stock, valued at $2,258,399.39. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,202 shares of company stock valued at $599,822. 7.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On American Eagle Outfitters

Institutional investors have recently modified their holdings of the stock. Synovus Financial Corp bought a new position in shares of American Eagle Outfitters during the 4th quarter valued at about $338,000. Harvest Fund Management Co. Ltd acquired a new position in American Eagle Outfitters in the 4th quarter valued at $51,000. Duality Advisers LP acquired a new position in American Eagle Outfitters in the 3rd quarter valued at $134,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in American Eagle Outfitters by 17.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,343 shares of the apparel retailer’s stock valued at $340,000 after buying an additional 3,669 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of American Eagle Outfitters by 10.3% during the 3rd quarter. Hsbc Holdings PLC now owns 423,554 shares of the apparel retailer’s stock valued at $4,245,000 after acquiring an additional 39,439 shares during the period. 93.34% of the stock is currently owned by institutional investors and hedge funds.

American Eagle Outfitters Trading Down 11.9 %

The business has a 50-day moving average price of $13.10 and a two-hundred day moving average price of $14.17. The stock has a market capitalization of $2.10 billion, a P/E ratio of 17.15, a P/E/G ratio of 0.82 and a beta of 1.52. The company has a current ratio of 1.43, a quick ratio of 0.67 and a debt-to-equity ratio of 0.01.

American Eagle Outfitters (NYSE:AEO – Get Rating) last announced its quarterly earnings data on Wednesday, May 24th. The apparel retailer reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. American Eagle Outfitters had a return on equity of 13.27% and a net margin of 2.51%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the company earned $0.16 EPS. American Eagle Outfitters’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts expect that American Eagle Outfitters, Inc. will post 1.12 EPS for the current fiscal year.

American Eagle Outfitters Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 21st. Shareholders of record on Thursday, April 6th were given a $0.10 dividend. The ex-dividend date was Wednesday, April 5th. This represents a $0.40 annualized dividend and a yield of 3.76%. American Eagle Outfitters’s dividend payout ratio is presently 64.52%.

About American Eagle Outfitters

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American Eagle Outfitters, Inc is a multi-brand specialty retailer, which offers an assortment of apparel and accessories for men and women under the American Eagle Outfitters brand, and intimates, apparel and personal care products for women under the Aerie brand. The firm operates stores in the United States, Canada, Mexico, Hong Kong, China and the United Kingdom.