Abercrombie & Fitch (ANF) Shares Down 5.5% After Analyst Downgrade
Abercrombie & Fitch Co. (NYSE:ANF) shares were down 5.5% during mid-day trading on Thursday after Wedbush lowered their price target on the stock from $25.00 to $17.00. Wedbush currently has a neutral rating on the stock. Abercrombie & Fitch traded as low as $17.51 and last traded at $17.99. Approximately 4,653,690 shares traded hands during mid-day trading, an increase of 70% from the average daily volume of 2,733,097 shares. The stock had previously closed at $19.03.
ANF has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their price objective on shares of Abercrombie & Fitch to $19.00 and gave the company an “underweight” rating in a research note on Friday, August 31st. ValuEngine cut shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research note on Thursday, August 30th. Zacks Investment Research cut shares of Abercrombie & Fitch from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 22nd. Morgan Stanley lifted their price objective on shares of Abercrombie & Fitch from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Tuesday, September 4th. Finally, William Blair lowered shares of Abercrombie & Fitch from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 30th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $21.14.
Institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC lifted its holdings in shares of Abercrombie & Fitch by 174.2% during the second quarter. Renaissance Technologies LLC now owns 2,924,700 shares of the apparel retailer’s stock worth $71,597,000 after purchasing an additional 1,858,200 shares during the period. Copper Rock Capital Partners LLC acquired a new position in shares of Abercrombie & Fitch during the second quarter worth $19,833,000. Monarch Partners Asset Management LLC acquired a new position in shares of Abercrombie & Fitch during the second quarter worth $10,846,000. BlackRock Inc. lifted its holdings in shares of Abercrombie & Fitch by 4.3% during the first quarter. BlackRock Inc. now owns 9,246,433 shares of the apparel retailer’s stock worth $223,856,000 after purchasing an additional 377,954 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Abercrombie & Fitch by 749.1% during the second quarter. Millennium Management LLC now owns 365,518 shares of the apparel retailer’s stock worth $8,948,000 after purchasing an additional 322,469 shares during the period.
Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings results on Thursday, August 30th. The apparel retailer reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. The company had revenue of $842.41 million for the quarter, compared to analyst estimates of $845.11 million. Abercrombie & Fitch had a net margin of 1.05% and a return on equity of 7.02%. Abercrombie & Fitch’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.16) earnings per share. On average, equities research analysts expect that Abercrombie & Fitch Co. will post 0.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, September 7th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, September 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.34%. Abercrombie & Fitch’s dividend payout ratio (DPR) is presently 123.08%.
About Abercrombie & Fitch (NYSE:ANF)
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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