Abercrombie & Fitch (NYSE:ANF) Stock Rating Lowered by StockNews.com

Posted by Defense World Staff on Jun 25th, 2023

Abercrombie & Fitch (NYSE:ANF – Get Rating) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Several other brokerages also recently commented on ANF. Citigroup upped their target price on shares of Abercrombie & Fitch from $24.00 to $33.00 in a research note on Thursday, May 25th. UBS Group increased their price target on shares of Abercrombie & Fitch from $28.00 to $32.00 in a research note on Thursday, May 25th. Telsey Advisory Group reissued an “outperform” rating and issued a $33.00 price objective on shares of Abercrombie & Fitch in a research report on Wednesday, March 1st. JPMorgan Chase & Co. lowered their price target on shares of Abercrombie & Fitch from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, March 2nd. Finally, Argus upgraded shares of Abercrombie & Fitch from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Monday, June 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Abercrombie & Fitch currently has an average rating of “Hold” and a consensus price target of $30.50.

Abercrombie & Fitch Trading Down 0.8 %

Shares of NYSE:ANF opened at $36.93 on Friday. The company has a 50 day moving average price of $28.13 and a 200 day moving average price of $27.18. Abercrombie & Fitch has a 1-year low of $14.02 and a 1-year high of $37.96. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.86 and a current ratio of 1.44. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 52.76 and a beta of 1.45.

Abercrombie & Fitch (NYSE:ANF – Get Rating) last announced its earnings results on Wednesday, May 24th. The apparel retailer reported $0.39 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.41. Abercrombie & Fitch had a net margin of 0.96% and a return on equity of 6.82%. The firm had revenue of $836.00 million for the quarter, compared to the consensus estimate of $814.93 million. During the same quarter last year, the firm posted ($0.27) EPS. The business’s quarterly revenue was up 2.9% on a year-over-year basis. On average, research analysts anticipate that Abercrombie & Fitch will post 2.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Abercrombie & Fitch

Institutional investors and hedge funds have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its holdings in shares of Abercrombie & Fitch by 445.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,549,428 shares of the apparel retailer’s stock worth $35,497,000 after purchasing an additional 1,265,202 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of Abercrombie & Fitch by 172.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,843,459 shares of the apparel retailer’s stock valued at $42,234,000 after purchasing an additional 1,165,872 shares during the period. Fisher Asset Management LLC grew its stake in shares of Abercrombie & Fitch by 2,308.2% during the 4th quarter. Fisher Asset Management LLC now owns 973,675 shares of the apparel retailer’s stock valued at $22,307,000 after acquiring an additional 933,244 shares during the period. Millennium Management LLC grew its stake in shares of Abercrombie & Fitch by 149.9% during the 2nd quarter. Millennium Management LLC now owns 1,121,848 shares of the apparel retailer’s stock valued at $18,982,000 after acquiring an additional 672,933 shares during the period. Finally, Balyasny Asset Management LLC boosted its stake in Abercrombie & Fitch by 48.4% in the 3rd quarter. Balyasny Asset Management LLC now owns 1,811,477 shares of the apparel retailer’s stock worth $28,168,000 after purchasing an additional 590,747 shares during the period. 99.03% of the stock is owned by hedge funds and other institutional investors.

Abercrombie & Fitch Company Profile

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Abercrombie & Fitch Co, through its subsidiaries, operates as a specialty retailer in the United States, Europe, the Middle East, Asia, the Asia-Pacific, Canada, and internationally. The company operates through two segments, Hollister and Abercrombie. It offers an assortment of apparel, personal care products, and accessories for men, women, and kids under the Hollister, Gilly Hicks, Social Tourist, Abercrombie & Fitch, and abercrombie kids brands.