American Eagle Outfitters (NYSE:AEO) Downgraded to Hold at SunTrust Banks

American Eagle Outfitters (NYSE:AEO) was downgraded by equities research analysts at SunTrust Banks from a “buy” rating to a “hold” rating in a report released on Monday, May 21st, MarketBeat reports. SunTrust Banks also issued estimates for American Eagle Outfitters’ Q1 2019 earnings at $0.21 EPS, Q2 2019 earnings at $0.24 EPS, Q3 2019 earnings at $0.49 EPS, Q4 2019 earnings at $0.49 EPS, FY2019 earnings at $1.43 EPS and FY2020 earnings at $1.54 EPS.

AEO has been the topic of several other reports. Jefferies Financial Group restated a “buy” rating and set a $24.00 target price on shares of American Eagle Outfitters in a research note on Friday, February 23rd. ValuEngine upgraded American Eagle Outfitters from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 2nd. Zacks Investment Research downgraded American Eagle Outfitters from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Bank of America boosted their target price on American Eagle Outfitters from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, March 9th. Finally, Wedbush initiated coverage on American Eagle Outfitters in a research note on Thursday, May 10th. They set an “outperform” rating and a $25.00 target price on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $20.56.

Shares of American Eagle Outfitters traded down $0.41, reaching $23.80, on Monday, MarketBeat reports. The company had a trading volume of 3,373,446 shares, compared to its average volume of 4,352,988. American Eagle Outfitters has a 52-week low of $10.23 and a 52-week high of $24.83. The company has a market capitalization of $4.34 billion, a PE ratio of 20.52, a P/E/G ratio of 2.34 and a beta of 1.04.

American Eagle Outfitters (NYSE:AEO) last announced its quarterly earnings results on Thursday, May 31st. The apparel retailer reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. American Eagle Outfitters had a return on equity of 18.65% and a net margin of 5.67%. The business had revenue of $823.00 million for the quarter, compared to the consensus estimate of $811.46 million. During the same period last year, the business posted $0.16 EPS. The business’s revenue was up 8.0% compared to the same quarter last year. sell-side analysts forecast that American Eagle Outfitters will post 1.5 EPS for the current fiscal year.

In other American Eagle Outfitters news, insider Charles F. Kessler sold 17,900 shares of the stock in a transaction that occurred on Friday, April 13th. The stock was sold at an average price of $22.00, for a total transaction of $393,800.00. Following the completion of the transaction, the insider now owns 26,031 shares of the company’s stock, valued at $572,682. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Jay L. Schottenstein sold 1,950,000 shares of the stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $24.13, for a total value of $47,053,500.00. Following the transaction, the chairman now directly owns 1,072,535 shares of the company’s stock, valued at approximately $25,880,269.55. The disclosure for this sale can be found here. In the last three months, insiders sold 2,777,675 shares of company stock valued at $65,687,457. Insiders own 6.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in the business. Cerebellum GP LLC purchased a new stake in shares of American Eagle Outfitters in the fourth quarter valued at approximately $129,000. Advisor Group Inc. grew its position in shares of American Eagle Outfitters by 291.6% in the fourth quarter. Advisor Group Inc. now owns 7,257 shares of the apparel retailer’s stock valued at $137,000 after purchasing an additional 5,404 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of American Eagle Outfitters in the fourth quarter valued at approximately $189,000. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of American Eagle Outfitters in the fourth quarter valued at approximately $202,000. Finally, Emerald Advisers Inc. PA purchased a new stake in shares of American Eagle Outfitters in the fourth quarter valued at approximately $207,000. 85.39% of the stock is owned by institutional investors and hedge funds.

About American Eagle Outfitters

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

Analyst Recommendations for American Eagle Outfitters (NYSE:AEO)



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