JPMorgan Chase & Co. Cuts Abercrombie & Fitch (NYSE:ANF) Price Target to $102.00

Abercrombie & Fitch (NYSE:ANF) had its target price trimmed by JPMorgan Chase & Co. from $128.00 to $102.00 in a report published on Monday,Benzinga reports. The brokerage currently has a neutral rating on the apparel retailer’s stock.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Abercrombie & Fitch in a report on Monday, January 5th. Citigroup raised shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and lifted their price target for the company from $90.00 to $135.00 in a report on Wednesday, January 21st. Zacks Research raised shares of Abercrombie & Fitch from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 25th. Barclays increased their price objective on shares of Abercrombie & Fitch from $94.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 6th. Finally, BTIG Research restated a “buy” rating on shares of Abercrombie & Fitch in a research note on Tuesday, January 13th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $120.90.

Abercrombie & Fitch Stock Performance

ANF opened at $95.95 on Monday. The company has a market capitalization of $4.40 billion, a P/E ratio of 9.20 and a beta of 1.19. The company has a 50-day moving average of $107.20 and a 200-day moving average of $93.43. Abercrombie & Fitch has a 1-year low of $65.40 and a 1-year high of $133.11.

Abercrombie & Fitch (NYSE:ANF) last posted its quarterly earnings results on Wednesday, November 26th. The apparel retailer reported $2.36 EPS 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 business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the firm earned $2.50 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, sell-side analysts expect that Abercrombie & Fitch will post 10.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Abercrombie & Fitch news, CEO Fran Horowitz sold 29,769 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $100.00, for a total transaction of $2,976,900.00. Following the completion of the transaction, the chief executive officer owned 308,503 shares in the company, valued at approximately $30,850,300. The trade was a 8.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 350,000 shares of company stock worth $34,661,358. 2.29% of the stock is owned by insiders.

Institutional Investors Weigh In On Abercrombie & Fitch

Institutional investors have recently bought and sold shares of the stock. Transamerica Financial Advisors LLC lifted its stake in shares of Abercrombie & Fitch by 322.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 249 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 190 shares during the period. Larson Financial Group LLC boosted its stake in Abercrombie & Fitch by 120.3% during the 4th quarter. Larson Financial Group LLC now owns 271 shares of the apparel retailer’s stock valued at $34,000 after purchasing an additional 148 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Abercrombie & Fitch during the 4th quarter valued at $44,000. Nomura Asset Management Co. Ltd. increased its position in shares of Abercrombie & Fitch by 94.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 350 shares of the apparel retailer’s stock valued at $44,000 after purchasing an additional 170 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of Abercrombie & Fitch by 181.6% in the second quarter. NewEdge Advisors LLC now owns 352 shares of the apparel retailer’s stock valued at $29,000 after buying an additional 227 shares during the period.

About Abercrombie & Fitch

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.