JPMorgan Chase & Co. Lowers Abercrombie & Fitch (NYSE:ANF) Price Target to $141.00

Abercrombie & Fitch (NYSE:ANF - Get Free Report) had its price target lowered by research analysts at JPMorgan Chase & Co. from $147.00 to $141.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the apparel retailer's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 89.22% from the stock's current price.

Other analysts have also issued research reports about the stock. Citigroup reaffirmed a "buy" rating on shares of Abercrombie & Fitch in a report on Wednesday, May 28th. Barclays set a $84.00 target price on shares of Abercrombie & Fitch and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Morgan Stanley upped their price target on shares of Abercrombie & Fitch from $78.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Jefferies Financial Group decreased their target price on Abercrombie & Fitch from $170.00 to $135.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. Finally, Raymond James dropped their price target on Abercrombie & Fitch from $110.00 to $90.00 and set an "outperform" rating for the company in a report on Tuesday, May 27th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $110.63.

Abercrombie & Fitch Stock Down 5.4%

Shares of Abercrombie & Fitch stock opened at $74.52 on Monday. The stock's fifty day moving average is $75.27 and its 200-day moving average is $102.48. The firm has a market capitalization of $3.55 billion, a PE ratio of 7.37 and a beta of 1.47. Abercrombie & Fitch has a 12-month low of $65.40 and a 12-month high of $189.00.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The apparel retailer reported $1.59 EPS for the quarter, beating 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 company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company posted $2.14 earnings per share. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. Analysts expect that Abercrombie & Fitch will post 10.62 EPS for the current year.

Abercrombie & Fitch announced that its board has authorized a share repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $1.30 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 29.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On Abercrombie & Fitch

Institutional investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Abercrombie & Fitch during the fourth quarter valued at about $27,000. UMB Bank n.a. boosted its position in shares of Abercrombie & Fitch by 161.4% during the 1st quarter. UMB Bank n.a. now owns 583 shares of the apparel retailer's stock worth $45,000 after purchasing an additional 360 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Abercrombie & Fitch by 55.6% during 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 in the last quarter. Private Trust Co. NA raised 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 worth $62,000 after acquiring an additional 98 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings in Abercrombie & Fitch by 166.7% during the 1st quarter. IFP Advisors Inc now owns 848 shares of the apparel retailer's stock worth $65,000 after acquiring an additional 530 shares during 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.

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