JPMorgan Chase & Co. Has Lowered Expectations for Abercrombie & Fitch (NYSE:ANF) Stock Price

Abercrombie & Fitch (NYSE:ANF) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $189.00 to $168.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 92.16% from the company’s current price.

Several other research firms have also recently issued reports on ANF. StockNews.com upgraded shares of Abercrombie & Fitch from a “hold” rating to a “buy” rating in a research report on Saturday. Morgan Stanley reduced their price target on shares of Abercrombie & Fitch from $149.00 to $139.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 15th. UBS Group raised shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and increased their price objective for the company from $173.00 to $220.00 in a report on Friday, January 10th. Telsey Advisory Group restated an “outperform” rating and set a $190.00 price objective on shares of Abercrombie & Fitch in a research report on Wednesday, February 26th. Finally, Raymond James decreased their target price on Abercrombie & Fitch from $180.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $171.50.

Abercrombie & Fitch Price Performance

Shares of ANF stock traded down $8.69 on Wednesday, hitting $87.43. 10,065,655 shares of the stock traded hands, compared to its average volume of 1,833,866. Abercrombie & Fitch has a 52 week low of $79.87 and a 52 week high of $196.99. The firm has a 50 day simple moving average of $125.08 and a two-hundred day simple moving average of $138.29. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 8.65 and a beta of 1.49.

Abercrombie & Fitch (NYSE:ANF) last posted its quarterly earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.07. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $2.97 earnings per share. Sell-side analysts forecast that Abercrombie & Fitch will post 10.62 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANF. SBI Securities Co. Ltd. purchased a new stake in Abercrombie & Fitch during the fourth quarter valued at approximately $27,000. UMB Bank n.a. increased its position in shares of Abercrombie & Fitch by 92.2% during the 4th quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 107 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Abercrombie & Fitch by 81.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer’s stock valued at $38,000 after buying an additional 123 shares during the period. Private Trust Co. NA increased its position in Abercrombie & Fitch by 604.4% during the third quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock valued at $44,000 after acquiring an additional 272 shares during the last quarter. Finally, Fifth Third Bancorp grew 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 purchasing an additional 132 shares during 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.