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

Abercrombie & Fitch (NYSE:ANF) had its target price decreased by analysts at JPMorgan Chase & Co. from $155.00 to $142.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 78.82% from the stock’s previous close.

ANF has been the topic of several other reports. Barclays assumed coverage on Abercrombie & Fitch in a report on Monday, April 21st. They set an “equal weight” rating and a $71.00 price objective on the stock. Morgan Stanley cut their price objective on Abercrombie & Fitch from $114.00 to $78.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. UBS Group raised their price target on shares of Abercrombie & Fitch from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday. Jefferies Financial Group decreased their price objective on Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Finally, 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. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Abercrombie & Fitch has an average rating of “Moderate Buy” and a consensus target price of $115.50.

Abercrombie & Fitch Stock Performance

NYSE ANF traded up $0.29 during trading hours on Monday, hitting $79.41. 419,193 shares of the company’s stock were exchanged, compared to its average volume of 2,374,226. The business’s 50 day moving average is $74.86 and its 200-day moving average is $111.48. Abercrombie & Fitch has a 12-month low of $65.40 and a 12-month high of $196.99. The firm has a market capitalization of $3.78 billion, a P/E ratio of 7.85 and a beta of 1.47.

Abercrombie & Fitch (NYSE:ANF) last announced its earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 EPS for the quarter, beating the consensus estimate of $3.48 by $0.09. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.57 billion. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the business posted $2.97 EPS. As a group, equities research analysts anticipate that Abercrombie & Fitch will post 10.62 EPS for the current fiscal year.

Abercrombie & Fitch announced that its board has authorized a stock buyback program on Wednesday, March 5th that permits the company to buyback $1.30 billion in shares. This buyback authorization permits the apparel retailer to purchase up to 29.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Abercrombie & Fitch

Several institutional investors and hedge funds have recently modified their holdings of the business. Private Trust Co. NA lifted its holdings 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 acquiring an additional 98 shares during the last quarter. Virtue Capital Management LLC lifted its holdings in shares of Abercrombie & Fitch by 1.3% in the fourth 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 during the last quarter. UMB Bank n.a. lifted its holdings in shares of Abercrombie & Fitch by 92.2% in the fourth 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 last quarter. Evergreen Capital Management LLC increased its holdings in Abercrombie & Fitch by 2.0% in the 4th quarter. Evergreen Capital Management LLC now owns 5,460 shares of the apparel retailer’s stock worth $816,000 after purchasing an additional 108 shares in the last quarter. Finally, Atria Investments Inc increased its holdings in Abercrombie & Fitch by 7.4% in the 4th quarter. Atria Investments Inc now owns 1,679 shares of the apparel retailer’s stock worth $251,000 after purchasing an additional 115 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.