NEW YORK (TheStreet) --Abercrombie & Fitch Co. (ANF) - Get Report was downgraded to "neutral" from "buy" by analysts at Nomura on Thursday morning.

The firm said it lowered its rating on the clothing and accessories retailer based on Abercrombie's 2014 fourth quarter earnings results, which declined from the same period in the previous year.

"We recognize Abercrombie & Fitch is in the midst of a potential turnaround with many pieces up in the air and we note the potential for a second half turnaround. However, we remain cautious on apparel retailers in general and Abercrombie is the only retailer within our coverage to comp negatively thus far in the fourth quarter," Nomura said in an analyst note.

Nomura set a $19 price target on Abercrombie & Fitch.

For the most recent quarter Abercrombie and Fitch said its earnings were $1.15 per share, compared to the $1.54 per share reported for the year ago fourth quarter. Earnings were in line with analysts' expectations.

Revenue for the quarter fell by 13.8% to $1.12 billion.

Shares of Abercrombie & Fitch are down by 1.97% to $19.87 in pre-market trading this morning.

Separately, TheStreet Ratings team rates ABERCROMBIE & FITCH as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate ABERCROMBIE & FITCH (ANF) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its increase in net income, reasonable valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and disappointing return on equity."

You can view the full analysis from the report here: ANF Ratings Report

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