Abercrombie & Fitch (NYSE:ANF) Price Target Lowered to $90.00 at Raymond James

Abercrombie & Fitch (NYSE:ANF) had its price objective lowered by Raymond James from $110.00 to $90.00 in a research report sent to investors on Tuesday,Benzinga reports. Raymond James currently has an outperform rating on the apparel retailer’s stock.

ANF has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their price target on shares of Abercrombie & Fitch from $155.00 to $142.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. UBS Group raised their price target on shares of Abercrombie & Fitch from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. Citigroup cut their price target on shares of Abercrombie & Fitch from $135.00 to $98.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Wall Street Zen cut shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research note on Sunday, March 9th. Finally, Barclays started coverage on shares of Abercrombie & Fitch in a research note on Monday, April 21st. They set an “equal weight” rating and a $71.00 price target for the company. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $108.63.

Abercrombie & Fitch Stock Performance

NYSE ANF opened at $76.94 on Tuesday. The firm has a 50-day simple moving average of $74.21 and a 200 day simple moving average of $108.63. Abercrombie & Fitch has a twelve month low of $65.40 and a twelve month high of $196.99. The stock has a market cap of $3.67 billion, a PE ratio of 7.61 and a beta of 1.47.

Abercrombie & Fitch (NYSE:ANF) last released its earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.09. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company earned $2.97 earnings per share. Research analysts forecast that Abercrombie & Fitch will post 10.62 earnings per share for the current fiscal year.

Abercrombie & Fitch declared that its board has initiated a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Abercrombie & Fitch in the fourth quarter valued at approximately $27,000. UMB Bank n.a. increased its holdings in shares of Abercrombie & Fitch by 161.4% in the first quarter. UMB Bank n.a. now owns 583 shares of the apparel retailer’s stock valued at $45,000 after purchasing an additional 360 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Abercrombie & Fitch by 56.2% in the fourth quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer’s stock valued at $55,000 after purchasing an additional 132 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Abercrombie & Fitch by 55.6% in the first quarter. Versant Capital Management Inc now owns 728 shares of the apparel retailer’s stock valued at $56,000 after purchasing an additional 260 shares in the last quarter. Finally, Private Trust Co. NA increased its holdings in shares of Abercrombie & Fitch by 30.9% in the fourth quarter. Private Trust Co. NA now owns 415 shares of the apparel retailer’s stock valued at $62,000 after purchasing 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.