Jefferies Financial Group Has Lowered Expectations for Abercrombie & Fitch (NYSE:ANF) Stock Price

Abercrombie & Fitch (NYSE:ANF - Get Free Report) had its target price reduced by investment analysts at Jefferies Financial Group from $220.00 to $170.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the apparel retailer's stock. Jefferies Financial Group's price objective would indicate a potential upside of 97.30% from the stock's previous close.

A number of other brokerages have also weighed in on ANF. UBS Group raised Abercrombie & Fitch from a "neutral" rating to a "buy" rating and increased their price objective for the company from $173.00 to $220.00 in a report on Friday, January 10th. JPMorgan Chase & Co. cut their price target on shares of Abercrombie & Fitch from $189.00 to $168.00 and set an "overweight" rating on the stock in a report on Wednesday. StockNews.com upgraded shares of Abercrombie & Fitch from a "hold" rating to a "buy" rating in a research note on Saturday, March 1st. Morgan Stanley cut their price objective on shares of Abercrombie & Fitch from $149.00 to $139.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 15th. Finally, Telsey Advisory Group restated an "outperform" rating and set a $190.00 target price on shares of Abercrombie & Fitch in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $147.75.

Remove Ads

Abercrombie & Fitch Price Performance

NYSE:ANF traded up $2.58 during trading hours on Wednesday, hitting $86.16. 2,935,767 shares of the company were exchanged, compared to its average volume of 1,811,602. Abercrombie & Fitch has a 52-week low of $79.77 and a 52-week high of $196.99. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 8.52 and a beta of 1.45. The company's 50 day moving average price is $122.35 and its 200-day moving average price is $137.56.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last announced its quarterly earnings data 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. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the previous year, the company earned $2.97 earnings per share. The business's quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities analysts predict that Abercrombie & Fitch will post 10.62 earnings per share for the current year.

Abercrombie & Fitch announced that its Board of Directors has initiated a share buyback program on Wednesday, March 5th that permits the company to buyback $1.30 billion in outstanding shares. This buyback authorization permits the apparel retailer to repurchase up to 29.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Institutional Trading of Abercrombie & Fitch

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Abercrombie & Fitch during the 4th quarter worth about $27,000. UMB Bank n.a. raised its holdings in 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 purchasing an additional 107 shares during the period. Farther Finance Advisors LLC boosted its position in Abercrombie & Fitch by 81.5% during the third quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer's stock worth $38,000 after purchasing an additional 123 shares in the last quarter. Private Trust Co. NA grew its holdings in Abercrombie & Fitch by 604.4% in the third quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer's stock valued at $44,000 after purchasing an additional 272 shares during the period. Finally, Fifth Third Bancorp increased its position in shares of Abercrombie & Fitch by 56.2% in the fourth quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer's stock valued at $55,000 after buying an additional 132 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.