UBS Group Has Lowered Expectations for Abercrombie & Fitch (NYSE:ANF) Stock Price

Abercrombie & Fitch (NYSE:ANF) had its target price decreased by equities researchers at UBS Group from $210.00 to $150.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the apparel retailer’s stock. UBS Group’s target price points to a potential upside of 76.42% from the company’s previous close.

Several other research firms have also recently issued reports on ANF. Citigroup cut their target price on Abercrombie & Fitch from $160.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday. Telsey Advisory Group cut their price objective on shares of Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday. Raymond James dropped their target price on shares of Abercrombie & Fitch from $180.00 to $165.00 and set an “outperform” rating for the company in a research report on Tuesday, January 14th. Morgan Stanley reduced their price target on shares of Abercrombie & Fitch from $149.00 to $139.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 15th. Finally, StockNews.com raised shares of Abercrombie & Fitch from a “hold” rating to a “buy” rating in a report on Saturday, March 1st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.75.

Abercrombie & Fitch Trading Down 2.5 %

Abercrombie & Fitch stock traded down $2.21 during midday trading on Thursday, hitting $85.02. The stock had a trading volume of 620,456 shares, compared to its average volume of 1,822,673. Abercrombie & Fitch has a 52-week low of $79.77 and a 52-week high of $196.99. The company has a market capitalization of $4.28 billion, a PE ratio of 8.43 and a beta of 1.45. The firm’s fifty day moving average is $123.78 and its two-hundred day moving average is $137.94.

Abercrombie & Fitch (NYSE:ANF) last announced its quarterly earnings data on Wednesday, March 5th. The apparel retailer reported $3.57 EPS for the quarter, beating the consensus estimate of $3.48 by $0.09. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the firm earned $2.97 EPS. The company’s revenue was up 9.1% on a year-over-year basis. As a group, equities research analysts predict that Abercrombie & Fitch will post 10.62 earnings per share for the current fiscal year.

Abercrombie & Fitch announced that its board has initiated a stock repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $1.30 billion in shares. This repurchase authorization authorizes the apparel retailer to purchase up to 29.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Abercrombie & Fitch

Several large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new position in Abercrombie & Fitch during the fourth quarter worth $27,000. UMB Bank n.a. boosted its stake in shares of Abercrombie & Fitch by 92.2% during the 4th quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 107 shares during the period. Farther Finance Advisors LLC grew its holdings in Abercrombie & Fitch by 81.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer’s stock valued at $38,000 after purchasing an additional 123 shares during the last quarter. Private Trust Co. NA raised its position in Abercrombie & Fitch by 604.4% in the 3rd quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock worth $44,000 after purchasing an additional 272 shares during the period. Finally, Fifth Third Bancorp lifted its stake in Abercrombie & Fitch by 56.2% in the fourth quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer’s stock worth $55,000 after purchasing an additional 132 shares during the last quarter.

Abercrombie & Fitch Company Profile

Abercrombie & Fitch Co engages in the retail of apparel, personal care products, and accessories. The firm operates through following geographical segments: Americas, EMEA and APAC. The Americas segment includes operations in North America and South America. The EMEA segment includes operations in Europe, the Middle East and Africa.