Royal Bank of Canada Raises Abercrombie & Fitch (ANF) Price Target to $24.00

Abercrombie & Fitch (NYSE:ANF) had its price target upped by Royal Bank of Canada from $23.00 to $24.00 in a report released on Friday. They currently have a sector perform rating on the apparel retailer’s stock.

A number of other equities research analysts have also issued reports on the company. Telsey Advisory Group restated a market perform rating and issued a $23.00 price target (up from $20.00) on shares of Abercrombie & Fitch in a research report on Friday. ValuEngine upgraded Abercrombie & Fitch from a sell rating to a hold rating in a research report on Friday. Nomura set a $17.00 price target on Abercrombie & Fitch and gave the company a hold rating in a research report on Monday, November 26th. Deutsche Bank upgraded Abercrombie & Fitch to a sell rating and set a $15.00 price target for the company in a research report on Monday, November 26th. Finally, Wedbush dropped their price target on Abercrombie & Fitch from $25.00 to $17.00 and set a neutral rating for the company in a research report on Thursday, October 11th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $20.94.

NYSE:ANF opened at $20.91 on Friday. Abercrombie & Fitch has a 12 month low of $15.28 and a 12 month high of $29.69. The company has a quick ratio of 1.22, a current ratio of 2.19 and a debt-to-equity ratio of 0.26. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 2.21 and a beta of 0.51.

Abercrombie & Fitch (NYSE:ANF) last posted its quarterly earnings results on Thursday, November 29th. The apparel retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.13. The business had revenue of $861.00 million during the quarter, compared to analyst estimates of $856.34 million. Abercrombie & Fitch had a return on equity of 7.23% and a net margin of 1.43%. The business’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 earnings per share. Equities research analysts forecast that Abercrombie & Fitch will post 0.76 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Friday, December 7th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date is Thursday, December 6th. Abercrombie & Fitch’s dividend payout ratio is presently 123.08%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANF. Renaissance Technologies LLC lifted its holdings in Abercrombie & Fitch by 174.2% in the second quarter. Renaissance Technologies LLC now owns 2,924,700 shares of the apparel retailer’s stock valued at $71,597,000 after acquiring an additional 1,858,200 shares during the last quarter. Morgan Stanley lifted its holdings in Abercrombie & Fitch by 309.1% in the third quarter. Morgan Stanley now owns 1,609,414 shares of the apparel retailer’s stock valued at $33,991,000 after acquiring an additional 1,215,986 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Abercrombie & Fitch by 11.1% in the third quarter. Vanguard Group Inc. now owns 11,232,257 shares of the apparel retailer’s stock valued at $237,225,000 after acquiring an additional 1,119,930 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Abercrombie & Fitch by 53.4% in the third quarter. Bank of New York Mellon Corp now owns 2,486,909 shares of the apparel retailer’s stock valued at $52,523,000 after acquiring an additional 865,643 shares during the last quarter. Finally, Tyvor Capital LLC lifted its holdings in Abercrombie & Fitch by 520.7% in the third quarter. Tyvor Capital LLC now owns 930,976 shares of the apparel retailer’s stock valued at $19,662,000 after acquiring an additional 780,976 shares during the last quarter.

About Abercrombie & Fitch

Abercrombie & Fitch Co, through its subsidiaries, operates as a specialty retailer. The Company operates in two segments, Hollister and Abercrombie. It offers apparel, intimates, personal care products, and accessories for men, women, and kids under the Hollister, Abercrombie & Fitch, abercrombie kids, and Gilly Hicks brand names.

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Analyst Recommendations for Abercrombie & Fitch (NYSE:ANF)

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