JPMorgan Chase & Co. Issues Pessimistic Forecast for Abercrombie & Fitch (NYSE:ANF) Stock Price

Abercrombie & Fitch (NYSE:ANF - Free Report) had its price objective trimmed by JPMorgan Chase & Co. from $168.00 to $155.00 in a research note released on Monday,Benzinga reports. The firm currently has an overweight rating on the apparel retailer's stock.

ANF has been the topic of a number of other reports. Telsey Advisory Group reduced their price objective on shares of Abercrombie & Fitch from $190.00 to $125.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Citigroup decreased their price objective on Abercrombie & Fitch from $135.00 to $98.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Jefferies Financial Group cut their target price on Abercrombie & Fitch from $220.00 to $170.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Raymond James set a $110.00 target price on Abercrombie & Fitch in a research report on Thursday, March 6th. Finally, Morgan Stanley lowered their price target on Abercrombie & Fitch from $149.00 to $139.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $135.29.

Abercrombie & Fitch Trading Up 5.6 %

Shares of ANF traded up $3.91 during mid-day trading on Monday, hitting $73.28. 1,585,711 shares of the company traded hands, compared to its average volume of 1,973,673. The business has a 50-day moving average of $85.02 and a 200 day moving average of $121.99. Abercrombie & Fitch has a one year low of $65.40 and a one year high of $196.99. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 7.25 and a beta of 1.41.

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

Abercrombie & Fitch declared that its board has authorized a stock repurchase program on Wednesday, March 5th that permits the company to buyback $1.30 billion in 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 of directors believes its shares are undervalued.

Institutional Investors Weigh In On Abercrombie & Fitch

Hedge funds and other institutional investors have recently bought and sold shares of the company. Everence Capital Management Inc. acquired a new position in Abercrombie & Fitch during the 4th quarter worth approximately $212,000. Empirical Finance LLC grew its position in Abercrombie & Fitch by 87.2% in the fourth quarter. Empirical Finance LLC now owns 8,818 shares of the apparel retailer's stock valued at $1,318,000 after purchasing an additional 4,108 shares in the last quarter. Lmcg Investments LLC lifted its position in Abercrombie & Fitch by 11.2% during the 4th quarter. Lmcg Investments LLC now owns 24,669 shares of the apparel retailer's stock worth $3,687,000 after buying an additional 2,479 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Abercrombie & Fitch by 3.1% during the 4th quarter. Rhumbline Advisers now owns 158,554 shares of the apparel retailer's stock worth $23,699,000 after buying an additional 4,837 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Abercrombie & Fitch in the fourth quarter valued at about $12,406,000.

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.