American Eagle Outfitters (NYSE:AEO) Sees Strong Trading Volume Following Analyst Upgrade

Shares of American Eagle Outfitters, Inc. (NYSE:AEO) saw an uptick in trading volume on Friday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. 8,396,499 shares were traded during mid-day trading, a decline of 9% from the previous session’s volume of 9,222,706 shares.The stock last traded at $17.98 and had previously closed at $18.79.

Several other equities analysts also recently commented on AEO. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $9.00 price objective on shares of American Eagle Outfitters in a research report on Monday, July 28th. UBS Group upped their target price on American Eagle Outfitters from $19.00 to $21.50 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley set a $10.00 price objective on American Eagle Outfitters and gave the stock an “equal weight” rating in a research note on Monday, June 2nd. Bank of America restated an “underperform” rating and set a $10.00 price objective (down from $11.00) on shares of American Eagle Outfitters in a research note on Monday, August 25th. Finally, Zacks Research upgraded American Eagle Outfitters to a “hold” rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $13.94.

Institutional Trading of American Eagle Outfitters

Institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its holdings in American Eagle Outfitters by 319.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 44,570 shares of the apparel retailer’s stock valued at $518,000 after purchasing an additional 33,938 shares during the period. GAMMA Investing LLC grew its holdings in American Eagle Outfitters by 380.4% in the first quarter. GAMMA Investing LLC now owns 2,325 shares of the apparel retailer’s stock valued at $27,000 after purchasing an additional 1,841 shares during the period. Rhumbline Advisers grew its holdings in American Eagle Outfitters by 0.7% in the first quarter. Rhumbline Advisers now owns 528,510 shares of the apparel retailer’s stock valued at $6,141,000 after purchasing an additional 3,631 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of American Eagle Outfitters during the first quarter worth approximately $440,000. Finally, Asset Management One Co. Ltd. increased its position in shares of American Eagle Outfitters by 38.7% during the first quarter. Asset Management One Co. Ltd. now owns 4,173 shares of the apparel retailer’s stock worth $48,000 after purchasing an additional 1,165 shares in the last quarter. 97.33% of the stock is owned by institutional investors and hedge funds.

American Eagle Outfitters Price Performance

The company has a quick ratio of 0.56, a current ratio of 1.38 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $3.26 billion, a PE ratio of 18.11 and a beta of 1.45. The company has a 50-day moving average of $11.86 and a 200 day moving average of $11.46.

American Eagle Outfitters (NYSE:AEO) last issued its quarterly earnings results on Wednesday, September 3rd. The apparel retailer reported $0.45 EPS for the quarter, topping the consensus estimate of $0.20 by $0.25. American Eagle Outfitters had a return on equity of 13.43% and a net margin of 3.74%.The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the business earned $0.39 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts predict that American Eagle Outfitters, Inc. will post 1.7 EPS for the current year.

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.