American Eagle Outfitters (NYSE:AEO) Reaches New 1-Year High at $21.99

American Eagle Outfitters, Inc. (NYSE:AEOGet Free Report) shares hit a new 52-week high during trading on Friday . The company traded as high as $21.99 and last traded at $21.83, with a volume of 344577 shares trading hands. The stock had previously closed at $21.62.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AEO. Telsey Advisory Group increased their price objective on shares of American Eagle Outfitters from $19.00 to $22.00 and gave the company a “market perform” rating in a research note on Tuesday, January 9th. TD Cowen increased their price objective on shares of American Eagle Outfitters from $15.00 to $19.00 and gave the stock a “market perform” rating in a report on Monday, December 4th. Morgan Stanley reduced their target price on shares of American Eagle Outfitters from $14.00 to $13.00 and set an “underweight” rating on the stock in a research note on Friday, November 24th. Bank of America raised shares of American Eagle Outfitters from an “underperform” rating to a “neutral” rating and raised their target price for the company from $12.50 to $19.00 in a research note on Wednesday, November 15th. Finally, StockNews.com downgraded shares of American Eagle Outfitters from a “buy” rating to a “hold” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.73.

Read Our Latest Research Report on AEO

American Eagle Outfitters Price Performance

The company has a market capitalization of $4.44 billion, a P/E ratio of 20.25, a PEG ratio of 0.66 and a beta of 1.55. The company has a fifty day moving average price of $20.66 and a two-hundred day moving average price of $18.05.

American Eagle Outfitters (NYSE:AEOGet Free Report) last announced its earnings results on Tuesday, November 21st. The apparel retailer reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. American Eagle Outfitters had a return on equity of 15.23% and a net margin of 4.30%. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the business posted $0.42 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts forecast that American Eagle Outfitters, Inc. will post 1.41 earnings per share for the current year.

American Eagle Outfitters Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 19th. Investors of record on Friday, January 5th were given a $0.125 dividend. This is a positive change from American Eagle Outfitters’s previous quarterly dividend of $0.10. This represents a $0.50 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Thursday, January 4th. American Eagle Outfitters’s dividend payout ratio is presently 45.05%.

American Eagle Outfitters declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 1st that allows the company to repurchase 30,000,000 shares. This repurchase authorization allows the apparel retailer to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at American Eagle Outfitters

In other American Eagle Outfitters news, insider Jennifer M. Foyle sold 24,271 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $20.11, for a total value of $488,089.81. Following the completion of the transaction, the insider now owns 232,459 shares in the company, valued at approximately $4,674,750.49. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Jennifer M. Foyle sold 24,271 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $20.11, for a total value of $488,089.81. Following the completion of the sale, the insider now owns 232,459 shares in the company, valued at approximately $4,674,750.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cary D. Mcmillan sold 2,363 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $19.91, for a total value of $47,047.33. The disclosure for this sale can be found here. In the last 90 days, insiders sold 126,634 shares of company stock worth $2,560,937. 7.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On American Eagle Outfitters

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of American Eagle Outfitters by 4.3% during the second quarter. BlackRock Inc. now owns 29,721,106 shares of the apparel retailer’s stock valued at $350,709,000 after purchasing an additional 1,212,617 shares in the last quarter. Vanguard Group Inc. increased its position in American Eagle Outfitters by 0.3% in the third quarter. Vanguard Group Inc. now owns 20,453,599 shares of the apparel retailer’s stock worth $339,734,000 after buying an additional 60,418 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of American Eagle Outfitters by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,003,990 shares of the apparel retailer’s stock worth $232,846,000 after purchasing an additional 284,965 shares in the last quarter. State Street Corp grew its position in shares of American Eagle Outfitters by 7.2% during the second quarter. State Street Corp now owns 7,243,454 shares of the apparel retailer’s stock worth $85,473,000 after purchasing an additional 488,571 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of American Eagle Outfitters by 37.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,092,955 shares of the apparel retailer’s stock worth $128,927,000 after purchasing an additional 1,663,569 shares in the last quarter. 90.10% of the stock is owned by hedge funds and other institutional investors.

About American Eagle Outfitters

(Get Free Report)

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

Featured Articles

Receive News & Ratings for American Eagle Outfitters Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Eagle Outfitters and related companies with MarketBeat.com's FREE daily email newsletter.