Why American Eagle Stock Dropped Today
Shares of apparel company American Eagle Outfitters (NYSE: AEO) dropped on Tuesday, after analysts turned increasingly negative over the business' near-term prospects. As of 11:45 a.m. ET today, American Eagle stock was down 8%.
Bank of America analyst David Buckley kicked the morning off by downgrading his outlook for American Eagle stock, according to StreetInsider. As recently as May, Buckley was neutral on the stock. But as of today, Buckley recommends selling American Eagle stock.
Commentary from Deutsche Bank analyst Gabriella Carbone today cast a shadow over the competitive landscape for apparel. Walmart stock is down today after the company said it's struggling with inventory management. To remedy this, it's cutting prices. And apparel is one area where Walmart's prices are going down.
Source Fool.com
