JPMorgan Chase & Co. Cuts American Eagle Outfitters (NYSE:AEO) Price Target to $37.00

American Eagle Outfitters (NYSE:AEO) had its price target reduced by JPMorgan Chase & Co. from $42.00 to $37.00 in a research report released on Wednesday morning, The Fly reports.

A number of other analysts have also issued reports on the stock. Morgan Stanley lifted their price objective on shares of American Eagle Outfitters from $27.00 to $29.00 and gave the company an equal weight rating in a research note on Monday, November 29th. Jefferies Financial Group assumed coverage on shares of American Eagle Outfitters in a research note on Tuesday, November 30th. They set a buy rating and a $42.00 price objective on the stock. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, American Eagle Outfitters currently has an average rating of Buy and an average price target of $36.43.

AEO opened at $23.75 on Wednesday. The firm has a market capitalization of $4.00 billion, a P/E ratio of 13.19 and a beta of 1.36. The firm’s 50 day moving average is $25.50 and its 200-day moving average is $28.45. American Eagle Outfitters has a 52-week low of $21.83 and a 52-week high of $38.99. The company has a quick ratio of 1.19, a current ratio of 2.04 and a debt-to-equity ratio of 0.24.

American Eagle Outfitters (NYSE:AEO) last posted its quarterly earnings data on Tuesday, November 23rd. The apparel retailer reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.15. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. American Eagle Outfitters had a net margin of 7.77% and a return on equity of 37.04%. The business’s quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 earnings per share. Equities analysts expect that American Eagle Outfitters will post 2.22 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 29th. Investors of record on Friday, December 10th were paid a $0.18 dividend. The ex-dividend date was Thursday, December 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.03%. American Eagle Outfitters’s dividend payout ratio (DPR) is presently 40.00%.

In other American Eagle Outfitters news, insider Jennifer M. Foyle sold 30,305 shares of American Eagle Outfitters stock in a transaction on Tuesday, December 7th. The shares were sold at an average price of $28.01, for a total value of $848,843.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven A. Davis acquired 3,900 shares of the firm’s stock in a transaction on Monday, November 29th. The stock was acquired at an average cost of $26.55 per share, with a total value of $103,545.00. The disclosure for this purchase can be found here. Insiders own 8.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in AEO. GQG Partners LLC acquired a new position in shares of American Eagle Outfitters during the second quarter valued at $71,878,000. Atreides Management LP boosted its holdings in shares of American Eagle Outfitters by 23.4% during the second quarter. Atreides Management LP now owns 8,383,173 shares of the apparel retailer’s stock valued at $314,620,000 after acquiring an additional 1,590,642 shares during the period. Axiom Investors LLC DE boosted its holdings in shares of American Eagle Outfitters by 507.4% during the second quarter. Axiom Investors LLC DE now owns 1,760,190 shares of the apparel retailer’s stock valued at $66,060,000 after acquiring an additional 1,470,420 shares during the period. Cooke & Bieler LP raised its stake in shares of American Eagle Outfitters by 22.1% during the third quarter. Cooke & Bieler LP now owns 5,463,770 shares of the apparel retailer’s stock valued at $140,965,000 after purchasing an additional 988,700 shares in the last quarter. Finally, FMR LLC raised its stake in shares of American Eagle Outfitters by 80.5% during the first quarter. FMR LLC now owns 2,152,703 shares of the apparel retailer’s stock valued at $47,726,000 after purchasing an additional 960,273 shares in the last quarter.

About American Eagle Outfitters

American Eagle Outfitters, Inc is a multi-brand specialty retailer, which offers an assortment of apparel and accessories for men and women under the American Eagle Outfitters brand, and intimates, apparel and personal care products for women under the Aerie brand. The firm operates stores in the United States, Canada, Mexico, Hong Kong, China and the United Kingdom.

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