American Eagle Outfitters, Inc. (NYSE:AEO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage presently has a $14.00 price target on the apparel retailer’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 0.14% from the company’s previous close.
According to Zacks, “American Eagle has outperformed the industry year to date. While second-quarter fiscal 2017 marked the company's second straight quarter of sales beat, earnings topped estimates after a miss in the last quarter. The company also posted 10th straight quarter of positive comps on the back of strong online sales at both brands driven by efficient use of omni-channel capabilities to enhance customer experience. Also, its new loyalty program, AEO Connect is likely to enhance customers' experience. We commend American Eagle's focus on expansion, as evident from its plans to enter the Indian market. Moreover, the company remains optimistic about the second half of fiscal 2017, especially the fall season. However, margins have been strained owing to increased promotions and the company expects these trends to continue and hurt results. Estimates have been stable ahead of the third quarter earnings.”
Several other research analysts have also recently commented on the stock. Wolfe Research upgraded shares of American Eagle Outfitters from an “underperform” rating to a “market perform” rating in a report on Thursday. B. Riley reiterated a “buy” rating on shares of American Eagle Outfitters in a report on Wednesday, November 1st. Cowen and Company reiterated an “outperform” rating and set a $16.00 price target (up previously from $14.00) on shares of American Eagle Outfitters in a report on Monday, October 2nd. SunTrust Banks, Inc. reiterated a “buy” rating and set a $15.00 price target on shares of American Eagle Outfitters in a report on Monday, October 2nd. Finally, BMO Capital Markets reiterated a “buy” rating and set a $15.00 price target on shares of American Eagle Outfitters in a report on Wednesday, September 13th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $14.57.
Shares of American Eagle Outfitters (AEO) opened at $13.98 on Thursday. American Eagle Outfitters has a 52 week low of $10.23 and a 52 week high of $19.00. The firm has a market cap of $2,369.80, a P/E ratio of 11.64, a P/E/G ratio of 1.35 and a beta of 1.10.
American Eagle Outfitters (NYSE:AEO) last announced its earnings results on Wednesday, August 23rd. The apparel retailer reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. American Eagle Outfitters had a net margin of 4.85% and a return on equity of 18.25%. The firm had revenue of $845.00 million for the quarter, compared to the consensus estimate of $823.84 million. During the same period in the prior year, the firm earned $0.23 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. analysts predict that American Eagle Outfitters will post 1.13 EPS for the current year.
In related news, insider Jennifer M. Foyle sold 13,500 shares of the stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $14.22, for a total transaction of $191,970.00. Following the completion of the sale, the insider now owns 27,531 shares in the company, valued at approximately $391,490.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.80% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in American Eagle Outfitters by 9.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,533 shares of the apparel retailer’s stock worth $103,000 after buying an additional 729 shares during the last quarter. Ronald Blue & Co. LLC raised its position in American Eagle Outfitters by 3.1% during the 2nd quarter. Ronald Blue & Co. LLC now owns 10,476 shares of the apparel retailer’s stock worth $126,000 after buying an additional 311 shares during the last quarter. Sterling Capital Management LLC purchased a new position in American Eagle Outfitters during the 2nd quarter worth $128,000. CIBC World Markets Inc. raised its position in American Eagle Outfitters by 0.6% during the 2nd quarter. CIBC World Markets Inc. now owns 11,035 shares of the apparel retailer’s stock worth $133,000 after buying an additional 63 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its position in American Eagle Outfitters by 91.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 11,082 shares of the apparel retailer’s stock worth $134,000 after buying an additional 5,282 shares during the last quarter. Hedge funds and other institutional investors own 84.12% of the company’s stock.
About American Eagle Outfitters
American Eagle Outfitters, Inc (AEO Inc) is a multi-brand specialty retailer. The Company offers a range of apparel and accessories for men and women under the American Eagle Outfitters Brand (AEO Brand), and intimates, apparel and personal care products for women under the Aerie brand. AEO Inc operates stores in the United States, Canada, Mexico, Hong Kong, China and the United Kingdom.
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