JPMorgan Chase & Co. Cuts Abercrombie & Fitch (NYSE:ANF) Price Target to $41.00

Abercrombie & Fitch (NYSE:ANF) had its price target trimmed by JPMorgan Chase & Co. from $44.00 to $41.00 in a report published on Wednesday, The Fly reports.

Several other equities analysts have also issued reports on the stock. B. Riley lifted their price objective on shares of Abercrombie & Fitch from $48.00 to $54.00 and gave the company a buy rating in a report on Wednesday, November 17th. Jefferies Financial Group reissued a buy rating on shares of Abercrombie & Fitch in a report on Wednesday, November 24th. UBS Group downgraded shares of Abercrombie & Fitch from a buy rating to a neutral rating and decreased their target price for the company from $68.00 to $37.00 in a research report on Friday, January 7th. Zacks Investment Research upgraded shares of Abercrombie & Fitch from a hold rating to a strong-buy rating and set a $37.00 price objective for the company in a research report on Tuesday. Finally, Telsey Advisory Group decreased their price objective on shares of Abercrombie & Fitch from $55.00 to $45.00 and set an outperform rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $43.17.

ANF stock opened at $34.14 on Wednesday. The stock has a market capitalization of $1.93 billion, a PE ratio of 7.81 and a beta of 1.70. Abercrombie & Fitch has a 12-month low of $22.29 and a 12-month high of $48.97. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The stock’s 50 day simple moving average is $37.54 and its 200 day simple moving average is $38.60.

Abercrombie & Fitch (NYSE:ANF) last announced its earnings results on Tuesday, November 23rd. The apparel retailer reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.20. Abercrombie & Fitch had a return on equity of 32.02% and a net margin of 7.62%. The company had revenue of $905.20 million for the quarter, compared to analysts’ expectations of $895.17 million. During the same period last year, the firm earned $0.76 EPS. Abercrombie & Fitch’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, research analysts predict that Abercrombie & Fitch will post 4.57 earnings per share for the current year.

Abercrombie & Fitch declared that its board has authorized a share repurchase plan on Tuesday, November 23rd that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the apparel retailer to reacquire up to 22.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

In other news, insider Kristin A. Scott sold 5,791 shares of the business’s stock in a transaction on Wednesday, November 3rd. The shares were sold at an average price of $45.00, for a total transaction of $260,595.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sarah M. Gallagher sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 24th. The stock was sold at an average price of $39.11, for a total transaction of $391,100.00. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE grew its position in Abercrombie & Fitch by 258.0% in the 2nd quarter. US Bancorp DE now owns 1,056 shares of the apparel retailer’s stock valued at $49,000 after buying an additional 761 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of Abercrombie & Fitch during the 2nd quarter valued at about $97,000. O Shaughnessy Asset Management LLC purchased a new stake in Abercrombie & Fitch during the third quarter valued at about $126,000. Macquarie Group Ltd. lifted its position in shares of Abercrombie & Fitch by 347.7% in the third quarter. Macquarie Group Ltd. now owns 3,528 shares of the apparel retailer’s stock worth $133,000 after purchasing an additional 2,740 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Abercrombie & Fitch in the third quarter worth approximately $160,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Abercrombie & Fitch Company Profile

Abercrombie & Fitch Co engages in the retail of apparel, personal care products and accessories. It offers apparel products, including knit tops, woven shirts, graphic t-shirts, fleece, sweaters, jeans, woven pants, shorts, outerwear, dresses, intimates and swimwear; and personal care products and accessories for men, women and kids under the Abercrombie & Fitch, abercrombie kids, Hollister and Gilly Hicks brands.

See Also: Trading Stocks – What are percentage gainers?

The Fly logo

Analyst Recommendations for Abercrombie & Fitch (NYSE:ANF)

Receive News & Ratings for Abercrombie & Fitch Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abercrombie & Fitch and related companies with MarketBeat.com's FREE daily email newsletter.