Fidelity Management & Research Co recently announced the acquisition of new stake in American Eagle Outfitters Inc. (NYSE:AEO). The institutional investor has increased its shareholding in the Consumer Cyclical company by 30.84% to 25.98 million shares with purchase of 6.12 million shares. This fresh investment now brings its stake to 13.87% valued currently at $295.16 million. In addition, BlackRock Fund Advisors raised its holdings by 6.22 million to 22.77 million shares. And The Vanguard Group, Inc. has lifted its position by 15.85% or 2.37 million shares – to 17.32 million shares.
With over 8.82 million American Eagle Outfitters Inc. (AEO) shares trading Monday and a closing price of $13.00 on the day, the dollar volume was approximately $114.7 million. The shares have shown a positive half year performance of 0.54% and its price on 11/21/22 gained nearly 0.62%. Currently, there are 180.19M common shares owned by the public and among those 175.60M shares have been available to trade.
Insiders at the company have transacted a total of 89 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 55 of these insider trades were purchases, accounting for 577,261 shares. Insider sales of the common stock occurred on 34 occasions, with total insider shares sold totaling 357,758 shares.
The top 3 mutual fund holders in American Eagle Outfitters Inc. are Fidelity Blue Chip Growth Fund, iShares Core S&P Small Cap ETF, and Fidelity Value Fund. Fidelity Blue Chip Growth Fund owns 11.82 million shares of the company’s stock, all valued at over $134.23 million. The company bought an additional 2.18 million shares recently to bring their total holdings to about 6.31% of the shares outstanding. iShares Core S&P Small Cap ETF bought 8152.0 shares to see its total holdings expand to 11.67 million shares valued at over $132.59 million and representing 6.23% of the shares outstanding. Fidelity Value Fund bought 0.45 million shares to bring its total holdings to over 5.15 million shares at a value of $58.52 million. Fidelity Value Fund now owns shares totaling to 2.75% of the shares outstanding.
Shares of American Eagle Outfitters Inc. (NYSE: AEO) opened at $12.80, down -$0.12 from a prior closing price of $12.92. However, the script later moved the day high at 13.17, up 0.62%. The company’s stock has a 5-day price change of 5.18% and 3.67% over the past three months. AEO shares are trading -48.66% year to date (YTD), with the 12-month market performance down to -51.73% lower. It has a 12-month low price of $9.46 and touched a high of $29.19 over the same period. AEO has an average intraday trading volume of 6.16 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 12.25%, 19.75%, and -6.38% respectively.
Institutional ownership of American Eagle Outfitters Inc. (NYSE: AEO) 180.19M shares outstanding. Mutual fund holders own 35.50%, while other institutional holders and individual stakeholders account for 61.47% and 18.12% respectively.
It has a market capitalization of $2.37B and a beta (3y monthly) value of 1.31. The stock’s trailing 12-month PE ratio is 14.49, while the earnings-per-share (ttm) stands at $0.90. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.25% over the week and 5.18% over the month.
Analysts forecast that American Eagle Outfitters Inc. (AEO) will achieve an EPS of $0.23 for the current quarter, $0.25 for the next quarter and $0.97 for 2024. The lowest estimate earnings-per-share for the quarter is $0.18 while analysts give the company a high EPS estimate of $0.27. Comparatively, EPS for the current quarter was $0.76 a year ago. Earnings per share for the fiscal year are expected to increase by 261.60%, and 43.49% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate American Eagle Outfitters Inc. (AEO) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 6 of the 12 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the AEO, a number of firms have released research notes about the stock. Cowen stated their Market Perform rating for the stock in a research note on August 01, 2022, with the firm’s price target at $25-$13. BofA Securities coverage for the American Eagle Outfitters Inc. (AEO) stock in a research note released on July 26, 2022 offered a Underperform rating with a price target of $8. B. Riley Securities was of a view on June 17, 2022 that the stock is Neutral, while Morgan Stanley gave the stock Underweight rating on May 31, 2022, issuing a price target of $22- $8. JP Morgan on their part issued Neutral rating on May 27, 2022.