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

Abercrombie & Fitch (NYSE:ANF) had its price objective decreased by research analysts at Citigroup from $135.00 to $98.00 in a research report issued 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 27.34% from the company’s current price.

A number of other equities analysts have also recently issued reports on ANF. Telsey Advisory Group cut their price objective on Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Jefferies Financial Group dropped their target price on Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. StockNews.com cut shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Sunday, March 9th. JPMorgan Chase & Co. lowered their price objective on shares of Abercrombie & Fitch from $189.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Finally, Raymond James set a $110.00 price objective on shares of Abercrombie & Fitch in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $136.25.

Abercrombie & Fitch Trading Up 15.0 %

ANF stock opened at $76.96 on Tuesday. The company’s 50 day moving average is $90.82 and its 200 day moving average is $125.14. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 7.61 and a beta of 1.41. Abercrombie & Fitch has a 1-year low of $65.40 and a 1-year high of $196.99.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 EPS 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 analyst estimates of $1.57 billion. During the same quarter in the prior year, the firm earned $2.97 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Abercrombie & Fitch will post 10.62 EPS for the current fiscal year.

Abercrombie & Fitch declared that its Board of Directors has approved a stock repurchase program on Wednesday, March 5th that permits the company to repurchase $1.30 billion in outstanding shares. This repurchase authorization permits the apparel retailer to repurchase up to 29.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Abercrombie & Fitch

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. increased its position in shares of Abercrombie & Fitch by 150.7% in the fourth quarter. Invesco Ltd. now owns 1,484,643 shares of the apparel retailer’s stock valued at $221,910,000 after acquiring an additional 892,492 shares during the period. Norges Bank purchased a new position in Abercrombie & Fitch during the 4th quarter valued at about $88,478,000. Wellington Management Group LLP raised its position in Abercrombie & Fitch by 20.8% during the 4th quarter. Wellington Management Group LLP now owns 1,229,875 shares of the apparel retailer’s stock valued at $183,829,000 after purchasing an additional 212,155 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Abercrombie & Fitch in the 4th quarter worth approximately $31,371,000. Finally, Boston Partners purchased a new stake in Abercrombie & Fitch in the 4th quarter worth approximately $28,327,000.

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.