Abercrombie & Fitch (NYSE:ANF) Price Target Cut to $98.00 by Analysts at Citigroup

Abercrombie & Fitch (NYSE:ANF) had its target price lowered by Citigroup from $135.00 to $98.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the apparel retailer’s stock.

Other equities analysts have also issued reports about the stock. Raymond James set a $110.00 target price on shares of Abercrombie & Fitch in a report on Thursday, March 6th. JPMorgan Chase & Co. lowered their price objective on Abercrombie & Fitch from $189.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Telsey Advisory Group cut their target price on Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Morgan Stanley reduced their price target on Abercrombie & Fitch from $149.00 to $139.00 and set an “equal weight” rating for the company in a report on Wednesday, January 15th. Finally, Jefferies Financial Group dropped their price target 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. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $136.25.

Abercrombie & Fitch Stock Down 5.2 %

Shares of ANF stock opened at $73.22 on Tuesday. The business’s fifty day moving average is $89.97 and its 200 day moving average is $124.66. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 7.24 and a beta of 1.41. Abercrombie & Fitch has a twelve month low of $65.40 and a twelve month high of $196.99.

Abercrombie & Fitch (NYSE:ANF) last released its earnings results 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 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 the consensus estimate of $1.57 billion. During the same period in the prior year, the firm earned $2.97 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. Equities research analysts expect that Abercrombie & Fitch will post 10.62 earnings per share for the current fiscal year.

Abercrombie & Fitch declared that its Board of Directors has initiated a share repurchase plan on Wednesday, March 5th that allows the company to buyback $1.30 billion in outstanding shares. This buyback authorization allows the apparel retailer to purchase up to 29.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Abercrombie & Fitch

Several large investors have recently bought and sold shares of ANF. Captrust Financial Advisors lifted its stake in Abercrombie & Fitch by 41.7% during the 3rd quarter. Captrust Financial Advisors now owns 2,478 shares of the apparel retailer’s stock valued at $347,000 after acquiring an additional 729 shares during the period. HighTower Advisors LLC raised its holdings in shares of Abercrombie & Fitch by 4.5% during the third quarter. HighTower Advisors LLC now owns 3,617 shares of the apparel retailer’s stock valued at $505,000 after purchasing an additional 157 shares during the last quarter. Stifel Financial Corp bought a new position in Abercrombie & Fitch during the third quarter valued at approximately $548,000. Wellington Management Group LLP boosted its holdings in Abercrombie & Fitch by 25.2% in the third quarter. Wellington Management Group LLP now owns 1,017,720 shares of the apparel retailer’s stock worth $142,379,000 after purchasing an additional 204,901 shares during the last quarter. Finally, Orion Portfolio Solutions LLC grew its position in Abercrombie & Fitch by 4.0% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 16,272 shares of the apparel retailer’s stock worth $2,276,000 after purchasing an additional 624 shares during the period.

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.