Abercrombie & Fitch (NYSE:ANF) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Abercrombie & Fitch (NYSE:ANFGet Rating) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Several other equities research analysts have also commented on ANF. Morgan Stanley dropped their price objective on shares of Abercrombie & Fitch from $32.00 to $17.00 and set an underweight rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Abercrombie & Fitch from $35.00 to $39.00 in a research note on Monday, May 16th. Telsey Advisory Group dropped their target price on shares of Abercrombie & Fitch from $40.00 to $30.00 and set an outperform rating on the stock in a research note on Wednesday. B. Riley dropped their target price on shares of Abercrombie & Fitch from $48.00 to $35.00 and set a buy rating on the stock in a research note on Wednesday. Finally, Citigroup downgraded shares of Abercrombie & Fitch from a buy rating to a neutral rating and dropped their target price for the stock from $59.00 to $30.00 in a research note on Monday, May 23rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Abercrombie & Fitch currently has a consensus rating of Hold and a consensus price target of $32.78.

Shares of ANF opened at $22.55 on Wednesday. The firm’s 50-day moving average price is $32.23 and its 200-day moving average price is $34.81. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 5.34 and a beta of 1.40. The company has a current ratio of 1.49, a quick ratio of 0.97 and a debt-to-equity ratio of 0.36. Abercrombie & Fitch has a 1-year low of $18.31 and a 1-year high of $48.97.

Abercrombie & Fitch (NYSE:ANFGet Rating) last posted its quarterly earnings data on Tuesday, May 24th. The apparel retailer reported ($0.27) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.29). Abercrombie & Fitch had a return on equity of 29.73% and a net margin of 7.08%. The business had revenue of $812.80 million for the quarter, compared to the consensus estimate of $799.33 million. During the same period in the previous year, the firm earned $0.67 EPS. The company’s revenue was up 4.0% on a year-over-year basis. On average, research analysts forecast that Abercrombie & Fitch will post 3.37 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Walleye Capital LLC raised its holdings in shares of Abercrombie & Fitch by 182.8% during the first quarter. Walleye Capital LLC now owns 109,957 shares of the apparel retailer’s stock valued at $3,518,000 after purchasing an additional 71,078 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Abercrombie & Fitch by 629.5% during the first quarter. Royal Bank of Canada now owns 19,543 shares of the apparel retailer’s stock valued at $626,000 after purchasing an additional 16,864 shares during the last quarter. First Republic Investment Management Inc. raised its holdings in shares of Abercrombie & Fitch by 2.3% during the first quarter. First Republic Investment Management Inc. now owns 21,072 shares of the apparel retailer’s stock valued at $674,000 after purchasing an additional 483 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Abercrombie & Fitch during the first quarter valued at approximately $95,000. Finally, Maverick Capital Ltd. purchased a new position in shares of Abercrombie & Fitch during the first quarter valued at approximately $2,985,000. 99.58% of the stock is owned by hedge funds and other institutional investors.

Abercrombie & Fitch Company Profile (Get Rating)

Abercrombie & Fitch Co, through its subsidiaries, operates as a specialty retailer. The company operates in two segments, Hollister and Abercrombie. It offers an assortment of apparel, personal care products, and accessories for men, women, and children under the Hollister, Abercrombie & Fitch, abercrombie kids, Moose, Seagull, Gilly Hicks, and Social Tourist brands.

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Analyst Recommendations for Abercrombie & Fitch (NYSE:ANF)

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