Abercrombie & Fitch Company (NYSE:ANF) Receives $111.38 Consensus Target Price from Analysts

Shares of Abercrombie & Fitch Company (NYSE:ANF - Get Free Report) have earned an average recommendation of "Moderate Buy" from the nine brokerages that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $110.63.

ANF has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on Abercrombie & Fitch from $147.00 to $141.00 and set an "overweight" rating for the company in a report on Monday. Telsey Advisory Group reiterated an "outperform" rating and issued a $125.00 price objective on shares of Abercrombie & Fitch in a research note on Wednesday, May 28th. Morgan Stanley boosted their price objective on Abercrombie & Fitch from $78.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Citigroup reaffirmed a "buy" rating on shares of Abercrombie & Fitch in a report on Wednesday, May 28th. Finally, Barclays set a $84.00 price target on shares of Abercrombie & Fitch and gave the stock an "equal weight" rating in a research note on Thursday, May 29th.

Abercrombie & Fitch Stock Performance

Shares of ANF traded up $0.06 during mid-day trading on Friday, hitting $75.06. 1,434,604 shares of the company's stock were exchanged, compared to its average volume of 2,165,604. The stock's 50-day moving average is $75.40 and its 200-day moving average is $101.77. Abercrombie & Fitch has a fifty-two week low of $65.40 and a fifty-two week high of $187.80. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 7.39 and a beta of 1.47.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last announced its earnings results on Wednesday, May 28th. The apparel retailer reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.24. Abercrombie & Fitch had a net margin of 10.60% and a return on equity of 42.32%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm earned $2.14 EPS. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. As a group, equities research analysts anticipate that Abercrombie & Fitch will post 10.62 EPS for the current year.

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

Hedge Funds Weigh In On Abercrombie & Fitch

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its position in shares of Abercrombie & Fitch by 198.2% during the 1st quarter. AQR Capital Management LLC now owns 1,955,927 shares of the apparel retailer's stock worth $144,582,000 after buying an additional 1,300,070 shares during the last quarter. Invesco Ltd. raised its stake in Abercrombie & Fitch by 150.7% during the 4th quarter. Invesco Ltd. now owns 1,484,643 shares of the apparel retailer's stock worth $221,910,000 after acquiring an additional 892,492 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Abercrombie & Fitch in the first quarter valued at $56,569,000. Norges Bank purchased a new stake in Abercrombie & Fitch in the fourth quarter valued at $88,478,000. Finally, Pacer Advisors Inc. boosted its stake in Abercrombie & Fitch by 3,113.1% in the first quarter. Pacer Advisors Inc. now owns 506,088 shares of the apparel retailer's stock valued at $38,650,000 after acquiring an additional 490,337 shares in 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.