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

Abercrombie & Fitch (NYSE:ANF) had its target price reduced by equities research analysts at Citigroup from $135.00 to $98.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the apparel retailer’s stock. Citigroup’s target price would indicate a potential upside of 27.34% from the stock’s current price.

ANF has been the subject of several other research reports. Jefferies Financial Group decreased their price objective on shares of Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Telsey Advisory Group decreased their price target on Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Morgan Stanley cut their price objective on Abercrombie & Fitch from $149.00 to $139.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 15th. JPMorgan Chase & Co. reduced their price objective on Abercrombie & Fitch from $189.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Finally, Raymond James set a $110.00 target price on Abercrombie & Fitch in a research note on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $136.25.

Abercrombie & Fitch Price Performance

NYSE:ANF opened at $76.96 on Tuesday. Abercrombie & Fitch has a one year low of $65.40 and a one year high of $196.99. The company has a market cap of $3.76 billion, a PE ratio of 7.61 and a beta of 1.41. The firm has a 50-day moving average of $90.82 and a 200-day moving average of $125.14.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings data on Wednesday, March 5th. The apparel retailer reported $3.57 EPS for the quarter, topping the consensus estimate of $3.48 by $0.09. The firm had revenue of $1.58 billion during 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 quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.97 earnings per share. On average, equities research analysts expect that Abercrombie & Fitch will post 10.62 earnings per share for the current fiscal year.

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

Institutional Investors Weigh In On Abercrombie & Fitch

Several institutional investors have recently added to or reduced their stakes in ANF. SBI Securities Co. Ltd. purchased a new position in shares of Abercrombie & Fitch in the fourth quarter worth about $27,000. UMB Bank n.a. grew its stake in Abercrombie & Fitch by 92.2% in the 4th quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer’s stock valued at $33,000 after buying an additional 107 shares in the last quarter. Fifth Third Bancorp raised its holdings in Abercrombie & Fitch by 56.2% during the 4th quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer’s stock valued at $55,000 after acquiring an additional 132 shares during the period. Versant Capital Management Inc lifted its position in shares of Abercrombie & Fitch by 55.6% during the first quarter. Versant Capital Management Inc now owns 728 shares of the apparel retailer’s stock worth $56,000 after acquiring an additional 260 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in shares of Abercrombie & Fitch by 30.9% during 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 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.