Abercrombie & Fitch (NYSE:ANF) Price Target Lowered to $98.00 at Citigroup

Abercrombie & Fitch (NYSE:ANF) had its target price dropped by analysts at Citigroup from $135.00 to $98.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the apparel retailer’s stock. Citigroup’s price objective would suggest a potential upside of 47.19% from the company’s previous close.

Several other research firms have also weighed in on ANF. Morgan Stanley reduced their price target on shares of Abercrombie & Fitch from $149.00 to $139.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 15th. Jefferies Financial Group reduced their target price on shares of Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price target on shares of 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 dropped their price objective 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. Finally, StockNews.com cut Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Sunday, March 9th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $136.25.

Abercrombie & Fitch Stock Down 8.4 %

ANF stock traded down $6.13 during trading on Tuesday, reaching $66.58. The stock had a trading volume of 3,893,779 shares, compared to its average volume of 1,941,654. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 6.59 and a beta of 1.41. Abercrombie & Fitch has a one year low of $65.43 and a one year high of $196.99. The company’s 50 day moving average is $94.80 and its two-hundred day moving average is $126.87.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings results 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 company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the business posted $2.97 earnings per share. Abercrombie & Fitch’s revenue was up 9.1% on a year-over-year basis. As a group, research analysts predict 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 share repurchase program on Wednesday, March 5th that authorizes the company to buyback $1.30 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to buy up to 29.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new position in Abercrombie & Fitch during the fourth quarter valued at approximately $27,000. 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 valued at $33,000 after purchasing an additional 107 shares during the period. Fifth Third Bancorp grew its position in shares of Abercrombie & Fitch by 56.2% during the 4th quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer’s stock valued at $55,000 after purchasing an additional 132 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Abercrombie & Fitch by 55.6% in the first quarter. Versant Capital Management Inc now owns 728 shares of the apparel retailer’s stock worth $56,000 after purchasing an additional 260 shares during the period. Finally, Private Trust Co. NA raised 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 in the last quarter.

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.