Zacks Investment Research upgraded shares of American Eagle Outfitters (NYSE:AEO) from a sell rating to a hold rating in a research report report published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $12.00 price objective on the apparel retailer’s stock.
According to Zacks, “Shares of American Eagle have outpaced the industry in the past three months. The stock received a boost after it started reopening stores. Further, the company witnessed strong digital demand, which provided cushion to the top line in first-quarter fiscal 2020. Also, the Aerie brand marked the 22nd straight quarter of double-digit comps growth. However, it reported drab first-quarter fiscal 2020 results mainly on extended store closures due to the coronavirus outbreak and aggressive inventory liquidation efforts. As part of inventory liquidation efforts, it cleared excessive inventory through the AE spring and summer merchandise program. This resulted in increased markdowns and promotions that weighed on its margins and bottom line. Moreover, management has withdrawn its fiscal 2020 view due to the unprecedented COVID-19 impacts.”
Several other analysts have also recently commented on the company. Raymond James upgraded American Eagle Outfitters from a market perform rating to an outperform rating and set a $10.00 target price on the stock in a report on Wednesday, May 6th. Deutsche Bank increased their price objective on shares of American Eagle Outfitters from $13.00 to $15.00 and gave the stock a buy rating in a report on Thursday, June 4th. ValuEngine raised shares of American Eagle Outfitters from a hold rating to a buy rating in a research note on Thursday, June 4th. Morgan Stanley upgraded shares of American Eagle Outfitters from an underweight rating to an equal weight rating and set a $11.00 target price on the stock in a research report on Thursday, June 4th. Finally, Cowen raised their price target on shares of American Eagle Outfitters from $8.00 to $13.00 and gave the company a market perform rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $12.94.
NYSE:AEO opened at $10.00 on Wednesday. The company has a quick ratio of 1.72, a current ratio of 2.35 and a debt-to-equity ratio of 1.95. The firm has a market cap of $1.66 billion, a PE ratio of 25.00 and a beta of 1.20. American Eagle Outfitters has a 12 month low of $6.53 and a 12 month high of $18.07. The company’s 50-day moving average price is $10.94 and its two-hundred day moving average price is $10.91.
American Eagle Outfitters (NYSE:AEO) last posted its earnings results on Wednesday, June 3rd. The apparel retailer reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.54). The firm had revenue of $551.70 million during the quarter, compared to the consensus estimate of $636.12 million. American Eagle Outfitters had a negative net margin of 2.68% and a positive return on equity of 5.92%. The business’s revenue was down 37.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 EPS. On average, research analysts expect that American Eagle Outfitters will post -0.31 EPS for the current fiscal year.
In other American Eagle Outfitters news, insider Charles F. Kessler sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $10.50, for a total transaction of $367,500.00. Following the transaction, the insider now owns 129,492 shares in the company, valued at $1,359,666. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 8.10% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Advisors Asset Management Inc. raised its holdings in American Eagle Outfitters by 112.4% in the fourth quarter. Advisors Asset Management Inc. now owns 1,971 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 1,043 shares during the period. Verus Capital Partners LLC bought a new stake in shares of American Eagle Outfitters in the 4th quarter valued at $75,000. GSA Capital Partners LLP acquired a new stake in American Eagle Outfitters during the 1st quarter worth $101,000. ETF Managers Group LLC raised its stake in American Eagle Outfitters by 11.4% during the 1st quarter. ETF Managers Group LLC now owns 13,226 shares of the apparel retailer’s stock worth $108,000 after buying an additional 1,356 shares during the period. Finally, Creative Planning bought a new position in American Eagle Outfitters during the second quarter worth about $117,000. 87.29% of the stock is owned by hedge funds and other institutional investors.
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 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.
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