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

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

A number of other analysts have also recently weighed in on the stock. StockNews.com upgraded shares of Abercrombie & Fitch from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley decreased 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 research report on Wednesday, January 15th. UBS Group raised shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and raised their price target for the company from $173.00 to $220.00 in a research note on Friday, January 10th. Raymond James dropped their price target on Abercrombie & Fitch from $180.00 to $165.00 and set an “outperform” rating for the company in a research report on Tuesday, January 14th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $190.00 target price on shares of Abercrombie & Fitch in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $171.50.

Abercrombie & Fitch Stock Performance

ANF traded down $8.69 during trading on Wednesday, hitting $87.43. 10,065,655 shares of the stock were exchanged, compared to its average volume of 1,833,866. The firm has a 50 day simple moving average of $125.08 and a 200 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 has a 1 year low of $79.87 and a 1 year high of $196.99.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in shares of Abercrombie & Fitch by 150.7% in the fourth quarter. Invesco Ltd. now owns 1,484,643 shares of the apparel retailer’s stock valued at $221,910,000 after buying an additional 892,492 shares in the last quarter. Norges Bank purchased a new stake in Abercrombie & Fitch during the fourth quarter worth about $88,478,000. Westfield Capital Management Co. LP purchased a new stake in Abercrombie & Fitch during the third quarter worth about $73,048,000. Wellington Management Group LLP lifted its position in shares of Abercrombie & Fitch by 20.8% during the fourth quarter. Wellington Management Group LLP now owns 1,229,875 shares of the apparel retailer’s stock worth $183,829,000 after purchasing an additional 212,155 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Abercrombie & Fitch in the fourth quarter valued at approximately $31,371,000.

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.