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

Abercrombie & Fitch (NYSE:ANF) had its target price decreased by JPMorgan Chase & Co. from $130.00 to $128.00 in a research report sent to investors on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the apparel retailer’s stock.

Other equities analysts have also recently issued research reports about the company. Citigroup lifted their price target on Abercrombie & Fitch from $79.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Telsey Advisory Group restated an “outperform” rating and set a $125.00 price target on shares of Abercrombie & Fitch in a report on Tuesday, January 13th. 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 report on Thursday, January 8th. Wall Street Zen cut shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Finally, Morgan Stanley boosted their target price on shares of Abercrombie & Fitch from $78.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 26th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $124.60.

Abercrombie & Fitch Stock Performance

NYSE ANF opened at $97.16 on Tuesday. Abercrombie & Fitch has a 1 year low of $65.40 and a 1 year high of $133.11. The business’s fifty day moving average is $105.72 and its two-hundred day moving average is $93.18. The stock has a market capitalization of $4.46 billion, a P/E ratio of 9.32 and a beta of 1.17.

Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings data on Wednesday, November 26th. The apparel retailer reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.22. Abercrombie & Fitch had a return on equity of 38.01% and a net margin of 10.07%.The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company posted $2.50 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. On average, research analysts forecast that Abercrombie & Fitch will post 10.62 earnings per share for the current year.

Institutional Investors Weigh In On Abercrombie & Fitch

Institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC raised its holdings in 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 buying an additional 227 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Abercrombie & Fitch during the 2nd quarter valued at about $38,000. Blue Trust Inc. acquired a new position in shares of Abercrombie & Fitch during the 3rd quarter valued at about $38,000. Hantz Financial Services Inc. raised its stake in shares of Abercrombie & Fitch by 108.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 481 shares of the apparel retailer’s stock valued at $41,000 after acquiring an additional 250 shares in the last quarter. Finally, Bessemer Group Inc. lifted 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 purchasing 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.