JPMorgan Chase & Co. Cuts Abercrombie & Fitch (NYSE:ANF) Price Target to $155.00

Abercrombie & Fitch (NYSE:ANF) had its price target reduced by JPMorgan Chase & Co. from $168.00 to $155.00 in a research note published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the apparel retailer’s stock.

Several other brokerages have also issued reports on ANF. StockNews.com lowered shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Sunday, March 9th. Jefferies Financial Group cut their price objective on shares of Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Raymond James set a $110.00 price target on shares of Abercrombie & Fitch in a research note on Thursday, March 6th. Citigroup lowered their target price on Abercrombie & Fitch from $135.00 to $98.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Telsey Advisory Group decreased their target price on shares of Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Abercrombie & Fitch presently has an average rating of “Moderate Buy” and a consensus target price of $135.29.

Abercrombie & Fitch Price Performance

Shares of ANF stock opened at $69.48 on Monday. Abercrombie & Fitch has a 1 year low of $65.40 and a 1 year high of $196.99. The company’s fifty day simple moving average is $86.54 and its two-hundred day simple moving average is $122.88. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 6.87 and a beta of 1.41.

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

Abercrombie & Fitch declared that its board has approved a share repurchase plan on Wednesday, March 5th that allows the company to buyback $1.30 billion in outstanding shares. This buyback authorization allows the apparel retailer to buy up to 29.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ANF. Private Trust Co. NA boosted its holdings in shares of Abercrombie & Fitch by 30.9% in the 4th quarter. Private Trust Co. NA now owns 415 shares of the apparel retailer’s stock valued at $62,000 after acquiring an additional 98 shares during the last quarter. Virtue Capital Management LLC grew its stake in Abercrombie & Fitch by 1.3% during the 4th quarter. Virtue Capital Management LLC now owns 8,221 shares of the apparel retailer’s stock valued at $1,229,000 after acquiring an additional 102 shares in the last quarter. UMB Bank n.a. raised its holdings 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 acquiring an additional 107 shares during the period. Evergreen Capital Management LLC lifted its holdings in Abercrombie & Fitch by 2.0% in the fourth quarter. Evergreen Capital Management LLC now owns 5,460 shares of the apparel retailer’s stock valued at $816,000 after acquiring an additional 108 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Abercrombie & Fitch by 0.8% in the 4th quarter. Arizona State Retirement System now owns 14,831 shares of the apparel retailer’s stock valued at $2,217,000 after acquiring an additional 115 shares during the period.

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.