JPMorgan Chase & Co. Issues Pessimistic Forecast for Abercrombie & Fitch (NYSE:ANF) Stock Price

Abercrombie & Fitch (NYSE:ANF) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $130.00 to $128.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 27.72% from the company’s previous close.

Several other research firms have also recently weighed in on ANF. Barclays boosted their price objective on shares of Abercrombie & Fitch from $94.00 to $115.00 and gave the company an “equal weight” rating in a report on Tuesday, January 6th. Zacks Research raised Abercrombie & Fitch from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Citigroup upped their price objective on Abercrombie & Fitch from $79.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Jefferies Financial Group reissued a “buy” rating and issued a $145.00 target price on shares of Abercrombie & Fitch in a research report on Monday, January 5th. Finally, Morgan Stanley upped their price target on shares of Abercrombie & Fitch from $78.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 26th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $120.10.

Abercrombie & Fitch Stock Performance

Shares of Abercrombie & Fitch stock traded down $3.91 during midday trading on Tuesday, reaching $100.22. 379,744 shares of the company’s stock traded hands, compared to its average volume of 2,058,205. The stock has a 50 day moving average of $104.03 and a 200-day moving average of $93.05. Abercrombie & Fitch has a 12 month low of $65.40 and a 12 month high of $134.16. The company has a market cap of $4.60 billion, a PE ratio of 9.62 and a beta of 1.17.

Abercrombie & Fitch (NYSE:ANF) last posted its earnings results on Wednesday, November 26th. The apparel retailer reported $2.36 earnings per share 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 firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the business earned $2.50 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities analysts anticipate that Abercrombie & Fitch will post 10.62 earnings per share for the current fiscal year.

Institutional Trading of Abercrombie & Fitch

Several institutional investors have recently added to or reduced their stakes in ANF. Parallel Advisors LLC lifted its position in shares of Abercrombie & Fitch by 17.6% during the third quarter. Parallel Advisors LLC now owns 967 shares of the apparel retailer’s stock worth $83,000 after purchasing an additional 145 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Abercrombie & Fitch by 0.4% during the second quarter. Franklin Resources Inc. now owns 47,779 shares of the apparel retailer’s stock worth $3,958,000 after acquiring an additional 167 shares during the period. Valeo Financial Advisors LLC boosted its holdings in shares of Abercrombie & Fitch by 1.8% in the second quarter. Valeo Financial Advisors LLC now owns 9,569 shares of the apparel retailer’s stock valued at $793,000 after purchasing an additional 173 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Abercrombie & Fitch by 2.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,897 shares of the apparel retailer’s stock worth $590,000 after purchasing an additional 194 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Abercrombie & Fitch by 1.7% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,240 shares of the apparel retailer’s stock valued at $1,014,000 after purchasing an additional 199 shares in the last quarter.

Abercrombie & Fitch Company Profile

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.