JPMorgan Chase & Co. Lowers Abercrombie & Fitch (NYSE:ANF) Price Target to $128.00

Abercrombie & Fitch (NYSE:ANF) had its target price decreased by research analysts at JPMorgan Chase & Co. from $130.00 to $128.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 29.20% from the stock’s current price.

Other analysts have also recently issued reports about the stock. UBS Group upped their price target on shares of Abercrombie & Fitch from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Zacks Research raised shares of Abercrombie & Fitch from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Wall Street Zen downgraded Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Morgan Stanley lifted their price target on Abercrombie & Fitch from $78.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 26th. Finally, The Goldman Sachs Group began coverage on Abercrombie & Fitch in a report on Thursday, December 11th. They set a “buy” rating and a $120.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $124.60.

Abercrombie & Fitch Trading Down 1.6%

NYSE ANF opened at $99.07 on Tuesday. The business has a fifty day simple moving average of $105.21 and a 200 day simple moving average of $93.15. Abercrombie & Fitch has a 12 month low of $65.40 and a 12 month high of $133.11. The firm has a market capitalization of $4.54 billion, a P/E ratio of 9.50 and a beta of 1.17.

Abercrombie & Fitch (NYSE:ANF) last posted its earnings results on Wednesday, November 26th. The apparel retailer reported $2.36 EPS for the quarter, topping the consensus estimate of $2.14 by $0.22. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Abercrombie & Fitch had a net margin of 10.07% and a return on equity of 38.01%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.50 EPS. As a group, sell-side analysts predict that Abercrombie & Fitch will post 10.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Abercrombie & Fitch

A number of institutional investors have recently made changes to their positions in ANF. NewEdge Advisors LLC boosted its stake in shares of Abercrombie & Fitch by 181.6% during the second quarter. NewEdge Advisors LLC now owns 352 shares of the apparel retailer’s stock valued at $29,000 after purchasing an additional 227 shares during the period. Ameritas Advisory Services LLC bought a new stake in Abercrombie & Fitch during the 2nd quarter valued at $38,000. Blue Trust Inc. bought a new stake in Abercrombie & Fitch during the 3rd quarter valued at $38,000. Hantz Financial Services Inc. boosted its position in Abercrombie & Fitch by 108.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 481 shares of the apparel retailer’s stock valued at $41,000 after buying an additional 250 shares during the period. Finally, Bessemer Group Inc. grew its holdings in Abercrombie & Fitch by 268.0% in the 3rd quarter. Bessemer Group Inc. now owns 666 shares of the apparel retailer’s stock worth $56,000 after acquiring an additional 485 shares during the last quarter.

About Abercrombie & Fitch

Abercrombie & Fitch Co (NYSE: ANF) is an American specialty retailer that designs, markets and sells casual apparel and accessories for men, women and children. Founded in 1892 by David T. Abercrombie and Ezra Fitch, the company evolved from an outdoor gear outfitter to a global lifestyle brand renowned for its relaxed, preppy aesthetic. Its product assortment includes tops, bottoms, outerwear, intimates, swimwear, fragrances and personal care items.

The company operates under multiple brand names, including Abercrombie & Fitch, Abercrombie Kids, Hollister and Gilly Hicks, each targeting distinct consumer segments from teens to young adults.