JPMorgan Chase & Co. Boosts Abercrombie & Fitch (NYSE:ANF) Price Target to $151.00

Key Points

• JPMorgan Chase & Co. has increased its price target for Abercrombie & Fitch from $141.00 to $151.00, maintaining an "overweight" rating on the stock, suggesting a potential upside of 63.69% based on the current price.
• Abercrombie & Fitch recently reported $1.59 earnings per share for the quarter, exceeding analyst estimates of $1.35, and its revenue increased by 7.5% year-over-year.
• The stock has a consensus rating of "Moderate Buy" with three analysts issuing a hold rating and six recommending a buy, alongside an average price target of $111.88.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $141.00 to $151.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the apparel retailer's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 63.69% from the stock's current price.

A number of other equities analysts have also issued reports on ANF. UBS Group reiterated a "buy" rating on shares of Abercrombie & Fitch in a research note on Wednesday, May 28th. Jefferies Financial Group reduced their price target 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. Telsey Advisory Group reissued an "outperform" rating and set a $125.00 price objective on shares of Abercrombie & Fitch in a report 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 report on Thursday, May 29th. Finally, Raymond James Financial lowered their price target on Abercrombie & Fitch from $110.00 to $90.00 and set an "outperform" rating for the company in a research note on Tuesday, May 27th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $111.88.

Abercrombie & Fitch Stock Performance

Shares of ANF opened at $92.25 on Monday. The firm has a market cap of $4.39 billion, a PE ratio of 9.08 and a beta of 1.46. The firm's 50 day moving average price is $83.22 and its 200 day moving average price is $89.05. Abercrombie & Fitch has a twelve month low of $65.40 and a twelve month high of $172.90.

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 for the quarter, beating 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 analyst estimates of $1.08 billion. During the same quarter last year, the firm earned $2.14 earnings per share. The company's revenue for the quarter was up 7.5% on a year-over-year basis. On average, sell-side analysts anticipate that Abercrombie & Fitch will post 10.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Ameritas Advisory Services LLC bought a new position in shares of Abercrombie & Fitch during the second quarter valued at $38,000. UMB Bank n.a. boosted its holdings in Abercrombie & Fitch by 161.4% in the first quarter. UMB Bank n.a. now owns 583 shares of the apparel retailer's stock valued at $45,000 after acquiring an additional 360 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Abercrombie & Fitch by 55.6% in the first quarter. Versant Capital Management Inc now owns 728 shares of the apparel retailer's stock valued at $56,000 after acquiring an additional 260 shares during the last quarter. IFP Advisors Inc boosted its holdings in Abercrombie & Fitch by 166.7% in the first quarter. IFP Advisors Inc now owns 848 shares of the apparel retailer's stock valued at $65,000 after acquiring an additional 530 shares during the last quarter. Finally, Bayforest Capital Ltd boosted its holdings in Abercrombie & Fitch by 102.9% in the first quarter. Bayforest Capital Ltd now owns 848 shares of the apparel retailer's stock valued at $65,000 after acquiring an additional 430 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.

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