Abercrombie & Fitch (NYSE:ANF) Price Target Cut to $135.00 by Analysts at Citigroup

Abercrombie & Fitch (NYSE:ANF) had its target price dropped by Citigroup from $160.00 to $135.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the apparel retailer’s stock. Citigroup’s price objective would suggest a potential upside of 60.41% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Abercrombie & Fitch from $189.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday. StockNews.com upgraded shares of Abercrombie & Fitch from a “hold” rating to a “buy” rating in a research report on Saturday, March 1st. Morgan Stanley dropped their price objective on shares of Abercrombie & Fitch from $149.00 to $139.00 and set an “equal weight” rating for the company in a report on Wednesday, January 15th. UBS Group raised Abercrombie & Fitch from a “neutral” rating to a “buy” rating and increased their target price for the company from $173.00 to $220.00 in a research note on Friday, January 10th. Finally, Jefferies Financial Group cut their price objective on Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Abercrombie & Fitch has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Abercrombie & Fitch Price Performance

NYSE:ANF traded down $3.07 during trading hours on Thursday, hitting $84.16. The stock had a trading volume of 348,317 shares, compared to its average volume of 1,821,862. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 8.34 and a beta of 1.45. Abercrombie & Fitch has a one year low of $79.77 and a one year high of $196.99. The company has a 50 day simple moving average of $123.78 and a two-hundred day simple moving average of $137.94.

Abercrombie & Fitch (NYSE:ANF) last posted its quarterly earnings data on Wednesday, March 5th. The apparel retailer reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.09. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.57 billion. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The firm’s quarterly 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. Equities research analysts anticipate that Abercrombie & Fitch will post 10.62 earnings per share for the current year.

Abercrombie & Fitch announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, March 5th that authorizes the company to buyback $1.30 billion in shares. This buyback authorization authorizes the apparel retailer to purchase up to 29.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Abercrombie & Fitch

Institutional investors and hedge funds have recently bought and sold shares of the stock. Everence Capital Management Inc. bought a new stake in Abercrombie & Fitch in the fourth quarter valued at $212,000. Empirical Finance LLC raised its stake in Abercrombie & Fitch by 87.2% during the fourth quarter. Empirical Finance LLC now owns 8,818 shares of the apparel retailer’s stock valued at $1,318,000 after buying an additional 4,108 shares during the last quarter. Lmcg Investments LLC boosted its holdings in Abercrombie & Fitch by 11.2% in the fourth quarter. Lmcg Investments LLC now owns 24,669 shares of the apparel retailer’s stock worth $3,687,000 after acquiring an additional 2,479 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in shares of Abercrombie & Fitch by 228.9% in the third quarter. Mutual of America Capital Management LLC now owns 27,621 shares of the apparel retailer’s stock worth $3,864,000 after acquiring an additional 19,222 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Abercrombie & Fitch by 3.1% during the fourth quarter. Rhumbline Advisers now owns 158,554 shares of the apparel retailer’s stock valued at $23,699,000 after acquiring an additional 4,837 shares in the last quarter.

About Abercrombie & Fitch

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.