Abercrombie & Fitch (NYSE:ANF) Price Target Raised to $147.00

Abercrombie & Fitch (NYSE:ANF - Free Report) had its target price upped by JPMorgan Chase & Co. from $142.00 to $147.00 in a research note released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the apparel retailer's stock.

Other analysts have also recently issued research reports about the company. Barclays set a $84.00 price objective on Abercrombie & Fitch and gave the company an "equal weight" rating in a research note on Thursday. Raymond James reduced their target price on Abercrombie & Fitch from $110.00 to $90.00 and set an "outperform" rating for the company in a report on Tuesday. Citigroup restated a "buy" rating on shares of Abercrombie & Fitch in a report on Wednesday. Morgan Stanley lowered their price target on Abercrombie & Fitch from $114.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group decreased their price objective on Abercrombie & Fitch from $170.00 to $135.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $111.38.

Abercrombie & Fitch Stock Performance

ANF stock traded down $4.66 during midday trading on Thursday, hitting $78.38. 5,018,822 shares of the stock were exchanged, compared to its average volume of 2,129,129. The stock's 50-day moving average price is $74.51 and its 200-day moving average price is $107.67. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 7.75 and a beta of 1.47. Abercrombie & Fitch has a fifty-two week low of $65.40 and a fifty-two week high of $194.38.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.24. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the previous year, the firm posted $2.14 earnings per share. Abercrombie & Fitch's revenue was up 7.5% on a year-over-year basis. 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 repurchase plan on Wednesday, March 5th that permits the company to repurchase $1.30 billion in outstanding shares. This repurchase authorization permits 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 board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in Abercrombie & Fitch in the first quarter valued at approximately $1,092,000. Impala Asset Management LLC raised its holdings in shares of Abercrombie & Fitch by 235.0% in the 1st quarter. Impala Asset Management LLC now owns 113,883 shares of the apparel retailer's stock worth $8,697,000 after acquiring an additional 79,883 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Abercrombie & Fitch by 91.4% during the first quarter. Intech Investment Management LLC now owns 60,161 shares of the apparel retailer's stock valued at $4,594,000 after buying an additional 28,722 shares during the last quarter. Bayforest Capital Ltd raised its position in Abercrombie & Fitch by 102.9% in the 1st quarter. Bayforest Capital Ltd now owns 848 shares of the apparel retailer's stock valued at $65,000 after buying an additional 430 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Abercrombie & Fitch by 8.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 127,389 shares of the apparel retailer's stock valued at $9,729,000 after purchasing an additional 10,459 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.