UBS Group Lowers American Eagle Outfitters (NYSE:AEO) Price Target to $34.00

American Eagle Outfitters (NYSE:AEO) had its target price reduced by UBS Group from $35.00 to $34.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the apparel retailer’s stock. UBS Group’s price target would indicate a potential upside of 65.21% from the company’s previous close.

Other equities analysts have also issued research reports about the company. StockNews.com upgraded American Eagle Outfitters from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. Telsey Advisory Group reiterated a “market perform” rating and set a $25.00 price objective on shares of American Eagle Outfitters in a research note on Thursday. Barclays lowered their target price on shares of American Eagle Outfitters from $32.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday. TD Cowen reduced their price target on American Eagle Outfitters from $25.00 to $23.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Morgan Stanley decreased their price objective on American Eagle Outfitters from $19.00 to $18.00 and set an “underweight” rating for the company in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.33.

American Eagle Outfitters Stock Performance

NYSE AEO opened at $20.58 on Friday. The company has a market cap of $4.04 billion, a PE ratio of 18.54, a P/E/G ratio of 1.01 and a beta of 1.51. The firm’s 50 day moving average price is $20.83 and its 200-day moving average price is $22.40. American Eagle Outfitters has a 52-week low of $14.39 and a 52-week high of $26.44.

American Eagle Outfitters (NYSE:AEO) last announced its earnings results on Thursday, August 29th. The apparel retailer reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. American Eagle Outfitters had a return on equity of 19.39% and a net margin of 4.12%. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, analysts forecast that American Eagle Outfitters will post 1.75 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Cary D. Mcmillan sold 2,577 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $20.93, for a total value of $53,936.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On American Eagle Outfitters

Several institutional investors and hedge funds have recently added to or reduced their stakes in AEO. Vanguard Group Inc. lifted its holdings in American Eagle Outfitters by 1.5% during the first quarter. Vanguard Group Inc. now owns 20,788,750 shares of the apparel retailer’s stock valued at $536,142,000 after purchasing an additional 310,808 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of American Eagle Outfitters by 2.7% during the 4th 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 during the last quarter. American Century Companies Inc. lifted its stake in American Eagle Outfitters by 18.1% in the 2nd quarter. American Century Companies Inc. now owns 4,472,073 shares of the apparel retailer’s stock valued at $89,263,000 after buying an additional 684,420 shares in the last quarter. Jupiter Asset Management Ltd. boosted its holdings in American Eagle Outfitters by 36.4% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 3,242,838 shares of the apparel retailer’s stock worth $64,727,000 after buying an additional 865,355 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in American Eagle Outfitters by 165.4% during the 2nd quarter. Victory Capital Management Inc. now owns 3,107,933 shares of the apparel retailer’s stock worth $62,034,000 after buying an additional 1,936,938 shares in the last quarter. Hedge funds and other institutional investors own 97.33% of the company’s stock.

About American Eagle Outfitters

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