Abercrombie & Fitch (NYSE:ANF) Price Target Lowered to $168.00 at JPMorgan Chase & Co.

Abercrombie & Fitch (NYSE:ANF) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from $189.00 to $168.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 100.80% from the company’s current price.

ANF has been the topic of several other reports. Morgan Stanley dropped their price target on 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. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Abercrombie & Fitch in a research report on Wednesday, February 26th. Raymond James decreased their price target on shares of Abercrombie & Fitch from $180.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, January 14th. UBS Group upgraded shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and lifted their target price for the company from $173.00 to $220.00 in a report on Friday, January 10th. Finally, StockNews.com upgraded Abercrombie & Fitch from a “hold” rating to a “buy” rating in a research note on Saturday, March 1st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Abercrombie & Fitch has an average rating of “Moderate Buy” and a consensus target price of $147.75.

Abercrombie & Fitch Stock Down 4.1 %

NYSE:ANF opened at $83.67 on Wednesday. The firm’s fifty day simple moving average is $123.78 and its 200 day simple moving average is $137.94. The stock has a market cap of $4.21 billion, a P/E ratio of 8.28 and a beta of 1.45. Abercrombie & Fitch has a twelve month low of $79.77 and a twelve month high of $196.99.

Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.48 by $0.09. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.57 billion. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. Abercrombie & Fitch’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.97 earnings per share. On average, analysts expect that Abercrombie & Fitch will post 10.62 EPS for the current fiscal year.

Abercrombie & Fitch announced that its Board of Directors has initiated a share 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 reacquire up to 29.5% of its shares through open market purchases. Shares buyback plans are generally 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. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Abercrombie & Fitch in the 4th quarter worth approximately $10,212,000. Virtue Capital Management LLC boosted its stake in shares of Abercrombie & Fitch by 1.3% in the 4th quarter. Virtue Capital Management LLC now owns 8,221 shares of the apparel retailer’s stock worth $1,229,000 after buying an additional 102 shares during the last quarter. Toronto Dominion Bank bought a new stake in shares of Abercrombie & Fitch in the fourth quarter worth $399,000. Invst LLC increased its position in Abercrombie & Fitch by 15.7% during the fourth quarter. Invst LLC now owns 4,017 shares of the apparel retailer’s stock valued at $600,000 after acquiring an additional 545 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Abercrombie & Fitch in the fourth quarter valued at about $247,000.

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.