Abercrombie & Fitch (NYSE:ANF) Given New $90.00 Price Target at Raymond James

Abercrombie & Fitch (NYSE:ANF - Free Report) had its price target trimmed by Raymond James from $110.00 to $90.00 in a report issued on Tuesday, MarketBeat reports. The brokerage currently has an outperform rating on the apparel retailer's stock.

Other analysts also recently issued research reports about the stock. Morgan Stanley cut their price target on shares of Abercrombie & Fitch from $114.00 to $78.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Telsey Advisory Group cut 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 report on Thursday, March 6th. Jefferies Financial Group cut their target price on shares of Abercrombie & Fitch from $170.00 to $135.00 and set a "buy" rating on the stock in a research report on Wednesday, May 21st. JPMorgan Chase & Co. cut their target price on shares of Abercrombie & Fitch from $155.00 to $142.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Finally, Barclays assumed coverage on shares of Abercrombie & Fitch in a research note on Monday, April 21st. They set an "equal weight" rating and a $71.00 price target for the company. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.38.

Abercrombie & Fitch Stock Performance

Shares of Abercrombie & Fitch stock traded down $4.66 on Tuesday, reaching $78.38. 5,018,822 shares of the stock were exchanged, compared to its average volume of 2,129,129. The firm's 50 day moving average is $74.51 and its 200-day moving average is $107.67. Abercrombie & Fitch has a one year low of $65.40 and a one year high of $194.38. The firm has a market cap of $3.73 billion, a PE ratio of 7.75 and a beta of 1.47.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The apparel retailer reported $1.59 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.24. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm posted $2.14 EPS. The firm's quarterly revenue was up 7.5% on a year-over-year basis. On average, equities research analysts expect that Abercrombie & Fitch will post 10.62 EPS for the current fiscal year.

Abercrombie & Fitch declared that its board has approved a share buyback program on Wednesday, March 5th that authorizes the company to repurchase $1.30 billion in shares. This repurchase authorization authorizes the apparel retailer to buy up to 29.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Abercrombie & Fitch

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake in shares of Abercrombie & Fitch by 198.2% in the 1st quarter. AQR Capital Management LLC now owns 1,955,927 shares of the apparel retailer's stock valued at $144,582,000 after purchasing an additional 1,300,070 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Abercrombie & Fitch by 150.7% in the 4th quarter. Invesco Ltd. now owns 1,484,643 shares of the apparel retailer's stock valued at $221,910,000 after purchasing an additional 892,492 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Abercrombie & Fitch in the 1st quarter valued at $56,569,000. Norges Bank purchased a new stake in shares of Abercrombie & Fitch in the 4th quarter valued at $88,478,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Abercrombie & Fitch by 3,113.1% in the 1st quarter. Pacer Advisors Inc. now owns 506,088 shares of the apparel retailer's stock valued at $38,650,000 after purchasing an additional 490,337 shares in the last quarter.

About Abercrombie & Fitch

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.