Abercrombie & Fitch (NYSE:ANF) Price Target Lowered to $155.00 at JPMorgan Chase & Co.

Abercrombie & Fitch (NYSE:ANF) had its target price decreased by JPMorgan Chase & Co. from $168.00 to $155.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 112.18% from the company’s current price.

Several other research firms also recently issued reports on ANF. UBS Group decreased their price objective on shares of Abercrombie & Fitch from $210.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Citigroup cut their price objective on Abercrombie & Fitch from $135.00 to $98.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Raymond James set a $110.00 price objective on Abercrombie & Fitch in a research note on Thursday, March 6th. Jefferies Financial Group dropped their target price on Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Finally, StockNews.com cut Abercrombie & Fitch from a “buy” rating to a “hold” rating in a report on Sunday, March 9th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.29.

Abercrombie & Fitch Price Performance

ANF stock traded down $0.56 on Monday, hitting $73.05. 1,260,071 shares of the company were exchanged, compared to its average volume of 1,965,347. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 7.23 and a beta of 1.41. Abercrombie & Fitch has a twelve month low of $65.40 and a twelve month high of $196.99. The business’s fifty day moving average is $89.15 and its two-hundred day moving average is $124.12.

Abercrombie & Fitch (NYSE:ANF) last issued its earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.09. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.97 earnings per share. Equities research analysts expect that Abercrombie & Fitch will post 10.62 earnings per share for the current year.

Abercrombie & Fitch announced that its Board of Directors has authorized a share repurchase program on Wednesday, March 5th that authorizes the company to buyback $1.30 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to purchase up to 29.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Abercrombie & Fitch

Several large investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new position in Abercrombie & Fitch in the 4th quarter worth approximately $27,000. UMB Bank n.a. lifted its stake in shares of Abercrombie & Fitch by 92.2% in the 4th quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 107 shares during the period. Fifth Third Bancorp increased its stake in shares of Abercrombie & Fitch by 56.2% during the fourth quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer’s stock valued at $55,000 after acquiring an additional 132 shares during the period. Private Trust Co. NA raised its holdings in Abercrombie & Fitch by 30.9% during the fourth quarter. Private Trust Co. NA now owns 415 shares of the apparel retailer’s stock worth $62,000 after purchasing an additional 98 shares in the last quarter. Finally, Parkside Financial Bank & Trust acquired a new stake in Abercrombie & Fitch in the fourth quarter worth approximately $69,000.

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.