Why American Eagle Stock Fell Hard Today
Shares of American Eagle Outfitters (NYSE: AEO) were sliding yet again today after an analyst downgraded the company's stock and cut her price target for its shares. Today's drop continues a sell-off that began last week following the company's release of its latest financial results.
The retail stock was down by 8.9% as of 12:09 p.m. ET.
American Eagle investors were already pessimistic about the company's stock after it reported earnings and revenue that were both below analysts' expectations late last week. But today's drop comes as Morgan Stanley analyst Kimberly Greenberger downgraded the stock to underweight, from her previous rating of equal weight.
Source Fool.com