Abercrombie & Fitch (NYSE:ANF) Price Target Lowered to $102.00 at JPMorgan Chase & Co.

Abercrombie & Fitch (NYSE:ANF) had its price objective cut by JPMorgan Chase & Co. from $128.00 to $102.00 in a report issued on Monday morning,Benzinga reports. They currently have a neutral rating on the apparel retailer’s stock.

Other equities research analysts also recently issued research reports about the company. Barclays raised their target price on Abercrombie & Fitch from $94.00 to $115.00 and gave the company an “equal weight” rating in a report on Tuesday, January 6th. BTIG Research reiterated a “buy” rating on shares of Abercrombie & Fitch in a research note on Tuesday, January 13th. Wall Street Zen downgraded shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a report on Sunday, February 15th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Abercrombie & Fitch in a report on Tuesday, January 13th. Finally, UBS Group reduced their price target on shares of Abercrombie & Fitch from $160.00 to $149.00 and set a “buy” rating for the company in a research report on Monday. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $120.90.

Abercrombie & Fitch Trading Down 3.9%

Shares of ANF opened at $92.61 on Monday. The stock’s 50 day moving average is $108.04 and its two-hundred day moving average is $93.46. Abercrombie & Fitch has a twelve month low of $65.40 and a twelve month high of $133.11. The firm has a market capitalization of $4.25 billion, a PE ratio of 8.88 and a beta of 1.19.

Abercrombie & Fitch (NYSE:ANF) last issued its earnings results on Wednesday, November 26th. The apparel retailer reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.28 billion. During the same period in the prior year, the business posted $2.50 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, sell-side analysts predict that Abercrombie & Fitch will post 10.62 EPS for the current year.

Insider Buying and Selling at Abercrombie & Fitch

In related news, CEO Fran Horowitz sold 103,200 shares of Abercrombie & Fitch stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $98.53, for a total transaction of $10,168,296.00. Following the completion of the transaction, the chief executive officer directly owned 605,303 shares in the company, valued at $59,640,504.59. The trade was a 14.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 350,000 shares of company stock worth $34,661,358. Company insiders own 2.29% of the company’s stock.

Hedge Funds Weigh In On Abercrombie & Fitch

Several hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC lifted its position in shares of Abercrombie & Fitch by 181.6% in the second quarter. NewEdge Advisors LLC now owns 352 shares of the apparel retailer’s stock valued at $29,000 after acquiring an additional 227 shares in the last quarter. Transamerica Financial Advisors LLC raised its stake in Abercrombie & Fitch by 322.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 249 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 190 shares during the last quarter. Larson Financial Group LLC raised its stake in Abercrombie & Fitch by 120.3% in the 4th quarter. Larson Financial Group LLC now owns 271 shares of the apparel retailer’s stock valued at $34,000 after purchasing an additional 148 shares during the last quarter. Blue Trust Inc. acquired a new position in Abercrombie & Fitch in the 3rd quarter valued at about $38,000. Finally, Hantz Financial Services Inc. lifted its holdings in 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 purchasing an additional 250 shares in 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.