Citigroup Issues Pessimistic Forecast for Abercrombie & Fitch (NYSE:ANF) Stock Price

Abercrombie & Fitch (NYSE:ANF - Free Report) had its target price lowered by Citigroup from $160.00 to $135.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the apparel retailer's stock.

A number of other brokerages have also issued reports on ANF. Morgan Stanley decreased their target price on shares of Abercrombie & Fitch from $149.00 to $139.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 15th. UBS Group raised Abercrombie & Fitch from a "neutral" rating to a "buy" rating and increased their price target for the stock from $173.00 to $220.00 in a research report on Friday, January 10th. Raymond James decreased their price target on Abercrombie & Fitch from $180.00 to $165.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group reduced their price objective on shares of Abercrombie & Fitch from $220.00 to $170.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Finally, Telsey Advisory Group dropped their target price on shares of Abercrombie & Fitch from $190.00 to $125.00 and set an "outperform" rating for the company in a research report on Thursday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $140.88.

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Abercrombie & Fitch Trading Down 9.1 %

Shares of NYSE:ANF traded down $7.87 during trading on Thursday, reaching $78.16. 2,774,352 shares of the stock were exchanged, compared to its average volume of 1,806,755. The firm has a market cap of $3.94 billion, a PE ratio of 7.73 and a beta of 1.45. Abercrombie & Fitch has a 12 month low of $77.21 and a 12 month high of $196.99. The stock has a 50-day moving average price of $119.47 and a 200-day moving average price of $135.94.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The apparel retailer reported $3.57 EPS 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 analyst estimates of $1.57 billion. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The company's revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.97 EPS. On average, sell-side analysts expect that Abercrombie & Fitch will post 10.62 earnings per share for the current fiscal year.

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

Hedge Funds Weigh In On Abercrombie & Fitch

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new position in shares of Abercrombie & Fitch during the fourth quarter worth $27,000. UMB Bank n.a. raised its position in Abercrombie & Fitch by 92.2% in the fourth quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer's stock valued at $33,000 after purchasing an additional 107 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of 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 during the last quarter. Private Trust Co. NA grew its holdings in shares of Abercrombie & Fitch by 604.4% during the third quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer's stock worth $44,000 after purchasing an additional 272 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake 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 during the period.

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.