American Eagle Outfitters (NYSE:AEO) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded American Eagle Outfitters to “Buy” from “Hold,” though the broader analyst consensus remains “Hold” with an average price target of $20.40.
• AEO shares opened at $17.36, up 2.1%, with a $2.91 billion market capitalization and a 52-week trading range of $14.06 to $28.46.
• Institutional investors own 97.33% of the company, with several major funds—including BlackRock, Marshall Wace, and Arrowstreet Capital—recently building significant positions, while company insiders sold about $196,599 of stock during the last quarter.

American Eagle Outfitters (NYSE:AEO - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

AEO has been the topic of several other reports. TD Cowen reduced their price objective on American Eagle Outfitters from $19.00 to $18.00 and set a "hold" rating on the stock in a report on Monday, May 18th. Bank of America reiterated an "underperform" rating and issued a $16.00 target price on shares of American Eagle Outfitters in a report on Friday, August 14th. Weiss Ratings reissued a "hold (c)" rating on shares of American Eagle Outfitters in a research report on Thursday, August 27th. Barclays cut their price target on American Eagle Outfitters from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Friday, May 29th. Finally, Telsey Advisory Group decreased their price objective on American Eagle Outfitters from $25.00 to $20.00 and set a "market perform" rating for the company in a report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, American Eagle Outfitters presently has an average rating of "Hold" and a consensus target price of $20.40.

American Eagle Outfitters Stock Up 2.1%

Shares of AEO opened at $17.36 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.55 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of $17.01 and a 200 day moving average of $17.84. The company has a market cap of $2.91 billion, a PE ratio of 10.72, a P/E/G ratio of 3.71 and a beta of 1.33. American Eagle Outfitters has a 52-week low of $14.06 and a 52-week high of $28.46.

Insider Buying and Selling

In other American Eagle Outfitters news, Director Noel Spiegel sold 2,892 shares of American Eagle Outfitters stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $16.78, for a total transaction of $48,527.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David M. Sable sold 5,779 shares of the company's stock in a transaction on Friday, July 17th. The shares were sold at an average price of $17.23, for a total transaction of $99,572.17. Following the completion of the sale, the director directly owned 53,481 shares in the company, valued at $921,477.63. This trade represents a 9.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 11,563 shares of company stock worth $196,599. 8.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On American Eagle Outfitters

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AEO. BlackRock Inc. purchased a new stake in American Eagle Outfitters during the 2nd quarter worth approximately $458,632,000. Marshall Wace LLP lifted its position in shares of American Eagle Outfitters by 920.6% in the third quarter. Marshall Wace LLP now owns 5,497,720 shares of the apparel retailer's stock valued at $94,066,000 after acquiring an additional 4,959,039 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of American Eagle Outfitters by 162.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,336,392 shares of the apparel retailer's stock valued at $105,818,000 after acquiring an additional 3,926,230 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of American Eagle Outfitters by 1,570.4% in the second quarter. California State Teachers Retirement System now owns 3,119,444 shares of the apparel retailer's stock worth $53,654,000 after acquiring an additional 2,932,699 shares during the last quarter. Finally, Nykredit A S acquired a new stake in shares of American Eagle Outfitters in the second quarter worth approximately $46,023,000. 97.33% of the stock is owned by institutional investors and hedge funds.

About American Eagle Outfitters

American Eagle Outfitters, Inc NYSE: AEO is a leading American specialty retailer offering apparel, accessories and personal care products for men and women. The company's flagship brand, American Eagle, focuses on casualwear including denim, tops, outerwear and accessories targeted primarily at teens and young adults. In addition to its core apparel lines, the company operates the Aerie brand of intimates, loungewear and swimwear, which has gained recognition for its body-positive marketing and inclusive sizing.

American Eagle Outfitters conducts business through a combination of over 900 brick-and-mortar stores in North America and Greater China, complemented by a growing e-commerce platform that serves customers around the globe.

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