Telsey Advisory Group Reiterates Market Perform Rating for American Eagle Outfitters (NYSE:AEO)

American Eagle Outfitters (NYSE:AEO)‘s stock had its “market perform” rating reaffirmed by Telsey Advisory Group in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $23.00 target price on the apparel retailer’s stock. Telsey Advisory Group’s price objective suggests a potential upside of 28.60% from the stock’s current price.

AEO has been the topic of several other reports. StockNews.com cut American Eagle Outfitters from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. UBS Group reduced their price objective on shares of American Eagle Outfitters from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Barclays decreased their price objective 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, August 30th. TD Cowen cut their target price on American Eagle Outfitters from $25.00 to $23.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Finally, Jefferies Financial Group decreased their price target on American Eagle Outfitters from $22.00 to $19.00 and set a “hold” rating for the company in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.00.

American Eagle Outfitters Trading Down 4.3 %

Shares of AEO stock opened at $17.89 on Wednesday. The firm has a fifty day simple moving average of $19.90 and a two-hundred day simple moving average of $20.71. American Eagle Outfitters has a 12 month low of $16.57 and a 12 month high of $26.44. The firm has a market capitalization of $3.43 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 0.93 and a beta of 1.52.

American Eagle Outfitters (NYSE:AEO) last posted its earnings results on Thursday, August 29th. The apparel retailer reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. American Eagle Outfitters had a net margin of 4.58% and a return on equity of 20.98%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the firm posted $0.25 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities analysts predict that American Eagle Outfitters will post 1.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jay L. Schottenstein sold 999,999 shares of American Eagle Outfitters stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $20.04, for a total value of $20,039,979.96. Following the completion of the transaction, the chief executive officer now directly owns 1,771,851 shares in the company, valued at approximately $35,507,894.04. The trade was a 36.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cary D. Mcmillan sold 2,283 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $21.49, for a total value of $49,061.67. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,050,702 shares of company stock valued at $21,148,718. 7.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Kathleen S. Wright Associates Inc. purchased a new position in American Eagle Outfitters during the third quarter valued at approximately $32,000. Advisors Asset Management Inc. grew its position in shares of American Eagle Outfitters by 171.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,548 shares of the apparel retailer’s stock valued at $57,000 after purchasing an additional 1,608 shares in the last quarter. Innealta Capital LLC bought a new position in shares of American Eagle Outfitters in the second quarter worth $78,000. nVerses Capital LLC purchased a new stake in shares of American Eagle Outfitters in the second quarter worth $108,000. Finally, Picton Mahoney Asset Management bought a new stake in American Eagle Outfitters during the second quarter valued at $140,000. 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.