Traders Buy Shares of American Eagle Outfitters Inc. (AEO) on Weakness
Investors purchased shares of American Eagle Outfitters Inc. (NYSE:AEO) on weakness during trading hours on Thursday. $34.67 million flowed into the stock on the tick-up and $10.46 million flowed out of the stock on the tick-down, for a money net flow of $24.21 million into the stock. Of all equities tracked, American Eagle Outfitters had the 5th highest net in-flow for the day. American Eagle Outfitters traded down ($0.27) for the day and closed at $18.57
Several brokerages have recently commented on AEO. Mizuho raised their target price on shares of American Eagle Outfitters from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, August 17th. Deutsche Bank AG raised shares of American Eagle Outfitters from a “hold” rating to a “buy” rating and raised their target price for the stock from $17.00 to $22.00 in a report on Monday, August 15th. Telsey Advisory Group lifted their price objective on shares of American Eagle Outfitters from $18.00 to $22.00 and gave the company a “market perform” rating in a research note on Monday, August 15th. FBR & Co raised shares of American Eagle Outfitters from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $17.00 to $19.00 in a research note on Thursday. Finally, Zacks Investment Research raised shares of American Eagle Outfitters from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Friday, August 19th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. American Eagle Outfitters presently has an average rating of “Buy” and an average target price of $19.17.
The firm has a market capitalization of $3.36 billion and a P/E ratio of 14.77. The company has a 50 day moving average of $17.82 and a 200-day moving average of $15.97.
American Eagle Outfitters (NYSE:AEO) last released its earnings results on Wednesday, August 17th. The apparel retailer reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The business had revenue of $823 million for the quarter, compared to the consensus estimate of $818.10 million. American Eagle Outfitters’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 EPS. On average, analysts anticipate that American Eagle Outfitters Inc. will post $1.30 EPS for the current year.
In related news, COO Michael R. Rempell sold 83,141 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $18.68, for a total transaction of $1,553,073.88. Following the transaction, the chief operating officer now owns 196,868 shares of the company’s stock, valued at approximately $3,677,494.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
A number of large investors have recently made changes to their positions in AEO. Westfield Capital Management Co. LP raised its stake in shares of American Eagle Outfitters by 5.7% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,970,220 shares of the apparel retailer’s stock worth $30,538,000 after buying an additional 106,020 shares during the period. Jennison Associates LLC raised its stake in shares of American Eagle Outfitters by 186.2% in the fourth quarter. Jennison Associates LLC now owns 70,375 shares of the apparel retailer’s stock worth $1,091,000 after buying an additional 45,786 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of American Eagle Outfitters by 44.4% in the fourth quarter. Bank of Montreal Can now owns 737,649 shares of the apparel retailer’s stock worth $11,433,000 after buying an additional 226,810 shares during the period.
American Eagle Outfitters, Inc is an apparel and accessories retailer. The Company offers clothing, accessories and personal care products. The Company operates under the American Eagle Outfitters and aerie by American Eagle Outfitters brands. The American Eagle Outfitters brand offers denims, pants, shorts, sweaters, fleece, outerwear, graphic t-shirts, footwear and accessories.
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