JPMorgan Chase & Co. Cuts American Eagle Outfitters (NYSE:AEO) Price Target to $20.00

American Eagle Outfitters (NYSE:AEO) had its price target cut by JPMorgan Chase & Co. from $23.00 to $20.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 21.29% from the company’s current price.

Several other equities analysts also recently commented on AEO. Bank of America cut their target price on American Eagle Outfitters from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, December 5th. Jefferies Financial Group cut their price objective on American Eagle Outfitters from $22.00 to $19.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. StockNews.com upgraded shares of American Eagle Outfitters from a “hold” rating to a “buy” rating in a research note on Monday. Telsey Advisory Group dropped their target price on shares of American Eagle Outfitters from $23.00 to $20.00 and set a “market perform” rating for the company in a research report on Thursday, December 5th. Finally, UBS Group reduced their price target on shares of American Eagle Outfitters from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.10.

American Eagle Outfitters Price Performance

AEO opened at $16.49 on Wednesday. The company has a market capitalization of $3.17 billion, a P/E ratio of 14.09, a P/E/G ratio of 1.12 and a beta of 1.53. The firm’s fifty day moving average price is $17.74 and its two-hundred day moving average price is $19.62. American Eagle Outfitters has a fifty-two week low of $16.06 and a fifty-two week high of $26.44.

American Eagle Outfitters (NYSE:AEO) last issued its earnings results on Wednesday, December 4th. The apparel retailer reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.02. American Eagle Outfitters had a net margin of 4.28% and a return on equity of 20.75%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the business earned $0.49 EPS. The firm’s revenue was down .9% on a year-over-year basis. On average, equities research analysts expect that American Eagle Outfitters will post 1.69 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Cary D. Mcmillan sold 2,283 shares of American Eagle Outfitters stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $21.49, for a total value of $49,061.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AEO. TD Asset Management Inc lifted its holdings in American Eagle Outfitters by 3.4% in the second quarter. TD Asset Management Inc now owns 60,500 shares of the apparel retailer’s stock valued at $1,208,000 after buying an additional 2,000 shares during the period. Arizona State Retirement System boosted its position in shares of American Eagle Outfitters by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 52,537 shares of the apparel retailer’s stock worth $1,049,000 after purchasing an additional 963 shares during the last quarter. Candriam S.C.A. acquired a new stake in shares of American Eagle Outfitters during the second quarter worth $240,000. LSV Asset Management bought a new stake in American Eagle Outfitters in the second quarter valued at about $8,790,000. Finally, Quest Partners LLC acquired a new position in American Eagle Outfitters in the second quarter valued at about $217,000. Institutional investors own 97.33% of the company’s stock.

American Eagle Outfitters Company Profile

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.