Cary D. McMillan, a director at American Eagle Outfitters Inc. (NYSE:AEO), recently sold 2,999 shares of the company’s common stock. The shares were sold at a price of $16.02 each, amounting to a total transaction value of $48,043. Following this transaction, McMillan no longer holds any shares in the company. The sale comes as AEO’s stock, currently trading at $17.24, shows significant volatility. According to InvestingPro analysis, while management has been actively buying back shares, the stock has experienced a notable decline over the past three months. The sale was disclosed in a filing with the Securities and Exchange Commission, dated January 16, 2025. With a market capitalization of $3.29 billion and a P/E ratio of 14.37, InvestingPro analysis suggests the stock is currently trading below its Fair Value. For comprehensive insider trading patterns and 8 additional key insights about AEO, investors can access the full Pro Research Report on InvestingPro.
In other recent news, American Eagle Outfitters has experienced noteworthy developments. The company raised its fourth-quarter operating profit forecast to $135 million, up from the previous estimate of $125-130 million. This revision follows stronger-than-expected holiday sales, which surpassed initial projections with a low single-digit increase. The company also bought back 1.5 million shares in the fourth quarter.
In response to these developments, BofA Securities revised its fourth-quarter earnings per share estimate for American Eagle, increasing it by $0.03 to $0.52. However, the firm reduced the price target from $21.00 to $18.00 while maintaining a Neutral rating on the shares. Meanwhile, Citi maintained a Neutral rating on American Eagle with a steady price target of $21.00. Raymond (NSE:RYMD) James initiated coverage on the retailer with a Market Perform rating, projecting earnings per share of $1.69 and $1.82 for fiscal years 2024 and 2025, respectively.
These are among the recent developments concerning American Eagle Outfitters. The company’s performance and future prospects have been the focus of several financial firms’ analyses, with mixed views being presented.
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