Abercrombie & Fitch Company (ANF) Upgraded at Citigroup Inc.
Citigroup Inc. upgraded shares of Abercrombie & Fitch Company (NYSE:ANF) from a neutral rating to a buy rating in a report issued on Friday, MarketBeat reports. The firm currently has $16.00 price target on the apparel retailer’s stock, up from their prior price target of $14.00.
Other research analysts have also issued reports about the stock. Vetr upgraded shares of Abercrombie & Fitch from a hold rating to a buy rating and set a $12.91 price objective on the stock in a report on Tuesday, May 23rd. TheStreet lowered shares of Abercrombie & Fitch from a c- rating to a d+ rating in a report on Thursday, June 15th. Jefferies Group LLC reiterated a hold rating and set a $13.00 price objective on shares of Abercrombie & Fitch in a report on Wednesday, May 3rd. Zacks Investment Research upgraded shares of Abercrombie & Fitch from a strong sell rating to a hold rating in a report on Tuesday, May 2nd. Finally, FBR & Co reiterated a hold rating and set a $13.00 price objective on shares of Abercrombie & Fitch in a report on Friday, May 26th. Eleven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Hold and an average target price of $13.27.
Abercrombie & Fitch (NYSE ANF) opened at 12.34 on Friday. The company’s 50-day moving average is $9.80 and its 200 day moving average is $11.57. Abercrombie & Fitch has a one year low of $8.81 and a one year high of $23.29. The company’s market capitalization is $844.75 million.
Abercrombie & Fitch (NYSE:ANF) last announced its quarterly earnings data on Thursday, August 24th. The apparel retailer reported ($0.16) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.17. The business had revenue of $779 million for the quarter, compared to analyst estimates of $758.57 million. Abercrombie & Fitch had a negative net margin of 0.62% and a negative return on equity of 0.79%. The company’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.25) EPS. On average, equities analysts anticipate that Abercrombie & Fitch will post ($0.17) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, September 1st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.48%. The ex-dividend date is Wednesday, August 30th. Abercrombie & Fitch’s payout ratio is currently -258.06%.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Abercrombie & Fitch by 43,958.0% in the first quarter. BlackRock Inc. now owns 8,373,671 shares of the apparel retailer’s stock worth $99,898,000 after buying an additional 8,354,665 shares during the last quarter. Southpoint Capital Advisors LP bought a new stake in Abercrombie & Fitch during the second quarter worth $18,038,000. Victory Capital Management Inc. bought a new stake in Abercrombie & Fitch during the second quarter worth $10,138,000. Balyasny Asset Management LLC bought a new stake in Abercrombie & Fitch during the second quarter worth $10,120,000. Finally, Quinn Opportunity Partners LLC increased its stake in Abercrombie & Fitch by 71.9% in the second quarter. Quinn Opportunity Partners LLC now owns 1,624,979 shares of the apparel retailer’s stock worth $20,215,000 after buying an additional 679,745 shares during the last quarter. 98.62% of the stock is owned by institutional investors and hedge funds.
About Abercrombie & Fitch
Abercrombie & Fitch Co is a specialty retailer who primarily sells its products through store and direct-to-consumer operations, as well as through various wholesale, franchise and licensing arrangements. The Company operates through two segments: Abercrombie, which includes the Company’s Abercrombie & Fitch and abercrombie kids brands, and Hollister, which includes the Company’s Hollister and Gilly Hicks brands.
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