American Eagle Outfitters (NYSE:AEO) Shares Up 4.4% – Time to Buy?

Shares of American Eagle Outfitters, Inc. (NYSE:AEO) traded up 4.4% during mid-day trading on Monday. The stock traded as high as $18.58 and last traded at $18.69. 339,918 shares changed hands during trading, a decline of 94% from the average daily volume of 5,482,446 shares. The stock had previously closed at $17.91.

Analyst Ratings Changes

Several research firms recently issued reports on AEO. Barclays cut their price target on shares of American Eagle Outfitters from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, September 10th. William Blair reissued a “buy” rating on shares of American Eagle Outfitters in a research report on Wednesday, July 15th. Wolfe Research began coverage on American Eagle Outfitters in a research note on Wednesday, October 21st. They issued a “peer perform” rating for the company. Wall Street Zen upgraded American Eagle Outfitters from a “hold” rating to a “buy” rating in a research note on Saturday, September 5th. Finally, Bank of America reissued an “underperform” rating and issued a $16.00 price objective on shares of American Eagle Outfitters in a report on Friday, August 14th. Two investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, American Eagle Outfitters currently has a consensus rating of “Hold” and a consensus price target of $19.55.

American Eagle Outfitters Trading Up 3.3%

The firm’s 50 day simple moving average is $16.96 and its two-hundred day simple moving average is $18.57.

American Eagle Outfitters (NYSE:AEO) last posted its quarterly earnings results on Wednesday, September 9th. The apparel retailer reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.57. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the business posted $0.45 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts forecast that American Eagle Outfitters, Inc. will post 2.24 EPS for the current year.

American Eagle Outfitters Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Friday, October 9th will be paid a $0.1250 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, October 9th.

Insider Activity at American Eagle Outfitters

In other news, Director Cary D. Mcmillan sold 3,617 shares of the stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $18.20, for a total transaction of $65,829.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Noel Spiegel sold 3,617 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $17.68, for a total value of $63,948.56. Additional details regarding this sale are available in the official SEC disclosure. 8.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On American Eagle Outfitters

Several hedge funds and other institutional investors have recently modified their holdings of AEO. BlackRock Inc. acquired a new stake in shares of American Eagle Outfitters in the 2nd quarter worth about $458,632,000. Arrowstreet Capital Limited Partnership boosted its stake in American Eagle Outfitters by 162.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,336,392 shares of the apparel retailer’s stock valued at $105,818,000 after purchasing an additional 3,926,230 shares during the period. Nykredit A S bought a new position in American Eagle Outfitters in the 2nd quarter worth about $46,023,000. Bank of New York Mellon Corp bought a new position in American Eagle Outfitters in the 2nd quarter worth about $27,637,000. Finally, Freestone Grove Partners LP acquired a new stake in shares of American Eagle Outfitters in the second quarter valued at approximately $23,698,000. Institutional investors and hedge funds own 97.33% of the company’s stock.

About American Eagle Outfitters

American Eagle Outfitters, Inc is a specialty retailer that designs, markets and sells apparel, accessories and personal-care products. The company serves teens and young adults through its American Eagle brand, which offers casual clothing including jeans, tops, outerwear, underwear and related accessories.

American Eagle Outfitters also operates Aerie, a lifestyle brand focused on intimates, activewear, swimwear, loungewear and apparel, as well as OFFLINE by Aerie, which emphasizes active and leisure clothing.