Abercrombie & Fitch (NYSE:ANF) had its price objective reduced by stock analysts at Wedbush from $23.00 to $16.00 in a report issued on Thursday, The Fly reports. The firm currently has an “underperform” rating on the apparel retailer’s stock. Wedbush’s price target would indicate a potential downside of 6.05% from the company’s previous close. Wedbush also issued estimates for Abercrombie & Fitch’s Q4 2020 earnings at $1.33 EPS and FY2021 earnings at $1.53 EPS.
A number of other equities research analysts also recently commented on the company. JPMorgan Chase & Co. upgraded Abercrombie & Fitch from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $19.00 to $27.00 in a research report on Thursday, March 7th. ValuEngine upgraded Abercrombie & Fitch from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Morgan Stanley increased their price objective on Abercrombie & Fitch from $14.00 to $15.00 and gave the company an “underweight” rating in a research report on Thursday, March 7th. B. Riley set a $26.00 price objective on Abercrombie & Fitch and gave the company a “hold” rating in a research report on Thursday, March 7th. Finally, Deutsche Bank set a $24.00 price objective on Abercrombie & Fitch and gave the company a “sell” rating in a research report on Thursday, March 7th. Six equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Abercrombie & Fitch currently has an average rating of “Hold” and a consensus price target of $22.17.
ANF traded down $0.47 during trading on Thursday, reaching $17.03. The stock had a trading volume of 55,082 shares, compared to its average volume of 2,912,098. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 0.86 and a beta of 0.63. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.64 and a quick ratio of 1.61. Abercrombie & Fitch has a 1-year low of $15.28 and a 1-year high of $30.63.
Abercrombie & Fitch (NYSE:ANF) last announced its quarterly earnings data on Wednesday, May 29th. The apparel retailer reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.14. Abercrombie & Fitch had a return on equity of 8.73% and a net margin of 2.76%. The company had revenue of $733.97 million during the quarter, compared to the consensus estimate of $730.79 million. During the same quarter in the prior year, the firm earned ($0.56) EPS. The company’s quarterly revenue was up .4% compared to the same quarter last year. Equities analysts expect that Abercrombie & Fitch will post 1.4 EPS for the current fiscal year.
In other news, Director Nigel Travis purchased 2,917 shares of Abercrombie & Fitch stock in a transaction dated Friday, March 8th. The shares were bought at an average cost of $25.70 per share, with a total value of $74,966.90. Following the completion of the transaction, the director now directly owns 2,917 shares in the company, valued at approximately $74,966.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.95% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in Abercrombie & Fitch by 38.2% in the 1st quarter. Nordea Investment Management AB now owns 139,600 shares of the apparel retailer’s stock valued at $3,826,000 after purchasing an additional 38,600 shares during the period. Lombard Odier Asset Management USA Corp bought a new stake in Abercrombie & Fitch in the 1st quarter valued at about $4,315,000. BlueMountain Capital Management LLC boosted its holdings in Abercrombie & Fitch by 127.7% in the 1st quarter. BlueMountain Capital Management LLC now owns 54,917 shares of the apparel retailer’s stock valued at $1,505,000 after purchasing an additional 30,799 shares during the period. Maverick Capital Ltd. boosted its holdings in Abercrombie & Fitch by 144,275.4% in the 1st quarter. Maverick Capital Ltd. now owns 880,690 shares of the apparel retailer’s stock valued at $24,140,000 after purchasing an additional 880,080 shares during the period. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Abercrombie & Fitch during the 1st quarter worth approximately $100,000.
Abercrombie & Fitch Company Profile
Abercrombie & Fitch Co, through its subsidiaries, operates as a specialty retailer. The Company operates in two segments, Hollister and Abercrombie. It offers apparel, personal care products, intimates, and accessories for men, women, and children under the Hollister, Abercrombie & Fitch, abercrombie kids, and Gilly Hicks brands.
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