UBS Group Cuts Abercrombie & Fitch (NYSE:ANF) Price Target to $150.00

Abercrombie & Fitch (NYSE:ANF) had its price target reduced by UBS Group from $210.00 to $150.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the apparel retailer’s stock. UBS Group’s price objective suggests a potential upside of 76.42% from the stock’s current price.

A number of other research firms also recently issued reports on ANF. StockNews.com raised Abercrombie & Fitch from a “hold” rating to a “buy” rating in a research report on Saturday, March 1st. Jefferies Financial Group dropped their target price on shares of Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of Abercrombie & Fitch from $189.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday. Raymond James dropped their price objective on shares of Abercrombie & Fitch from $180.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. Finally, Telsey Advisory Group reduced their price objective on shares of Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Abercrombie & Fitch has an average rating of “Moderate Buy” and an average price target of $147.75.

Abercrombie & Fitch Stock Down 2.5 %

ANF traded down $2.21 on Thursday, reaching $85.02. 620,456 shares of the company traded hands, compared to its average volume of 1,822,673. The company has a market cap of $4.28 billion, a P/E ratio of 8.43 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 firm has a fifty day simple moving average of $123.78 and a two-hundred day simple moving average of $137.94.

Abercrombie & Fitch (NYSE:ANF) last issued its earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.09. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the company posted $2.97 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities analysts forecast 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 buyback plan on Wednesday, March 5th that permits the company to repurchase $1.30 billion in shares. This repurchase authorization permits the apparel retailer to repurchase up to 29.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Abercrombie & Fitch

A number of large investors have recently made changes to their positions in ANF. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Abercrombie & Fitch in the 4th quarter worth $10,212,000. Virtue Capital Management LLC raised its stake in Abercrombie & Fitch by 1.3% in the fourth quarter. Virtue Capital Management LLC now owns 8,221 shares of the apparel retailer’s stock valued at $1,229,000 after buying an additional 102 shares during the last quarter. Toronto Dominion Bank purchased a new stake in shares of Abercrombie & Fitch during the fourth quarter worth about $399,000. Invst LLC increased its holdings in shares of Abercrombie & Fitch by 15.7% during the fourth quarter. Invst LLC now owns 4,017 shares of the apparel retailer’s stock valued at $600,000 after acquiring an additional 545 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Abercrombie & Fitch in the 4th quarter valued at approximately $247,000.

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.