Citigroup Has Lowered Expectations for Abercrombie & Fitch (NYSE:ANF) Stock Price

Abercrombie & Fitch (NYSE:ANF - Get Free Report) had its target price decreased by Citigroup from $135.00 to $98.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the apparel retailer's stock. Citigroup's target price indicates a potential upside of 33.15% from the stock's previous close.

Several other analysts have also recently commented on the stock. UBS Group reduced their target price 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. Morgan Stanley cut their target price 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. JPMorgan Chase & Co. dropped their price objective on Abercrombie & Fitch from $189.00 to $168.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Telsey Advisory Group cut their price target on shares of Abercrombie & Fitch from $190.00 to $125.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Finally, Jefferies Financial Group lowered their target price on shares of Abercrombie & Fitch from $220.00 to $170.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $137.14.

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Abercrombie & Fitch Stock Performance

Abercrombie & Fitch stock traded up $0.61 during midday trading on Tuesday, hitting $73.60. 2,020,923 shares of the company's stock were exchanged, compared to its average volume of 1,964,094. Abercrombie & Fitch has a 12-month low of $65.40 and a 12-month high of $196.99. The firm's 50 day simple moving average is $89.15 and its 200 day simple moving average is $124.22. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 7.28 and a beta of 1.41.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The apparel retailer reported $3.57 earnings per share for the quarter, topping 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 company had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.57 billion. During the same period last year, the firm earned $2.97 EPS. The firm's revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts forecast that Abercrombie & Fitch will post 10.62 EPS for the current fiscal year.

Abercrombie & Fitch declared that its board has authorized a share buyback program on Wednesday, March 5th that authorizes the company to repurchase $1.30 billion in shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 29.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Institutional Trading of Abercrombie & Fitch

A number of large investors have recently made changes to their positions in the stock. Private Trust Co. NA boosted its position in shares of Abercrombie & Fitch by 30.9% in the fourth quarter. Private Trust Co. NA now owns 415 shares of the apparel retailer's stock worth $62,000 after buying an additional 98 shares during the period. Virtue Capital Management LLC lifted its position in Abercrombie & Fitch by 1.3% during the 4th quarter. Virtue Capital Management LLC now owns 8,221 shares of the apparel retailer's stock worth $1,229,000 after acquiring an additional 102 shares in the last quarter. UMB Bank n.a. boosted 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 acquiring an additional 107 shares during the period. Evergreen Capital Management LLC grew its position in Abercrombie & Fitch by 2.0% in the fourth quarter. Evergreen Capital Management LLC now owns 5,460 shares of the apparel retailer's stock valued at $816,000 after acquiring an additional 108 shares in the last quarter. Finally, Atria Investments Inc raised its stake in shares of Abercrombie & Fitch by 7.4% during the fourth quarter. Atria Investments Inc now owns 1,679 shares of the apparel retailer's stock valued at $251,000 after purchasing an additional 115 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.