Vetr Inc. Downgrades Abercrombie & Fitch Co. (ANF) to Sell
Abercrombie & Fitch Co. (NYSE:ANF) was downgraded by equities researchers at Vetr from a “hold” rating to a “sell” rating in a report issued on Monday. They presently have a $15.36 price objective on the apparel retailer’s stock. Vetr‘s price target would indicate a potential downside of 3.94% from the company’s current price.
Several other equities research analysts also recently weighed in on the stock. Argus reissued a “hold” rating on shares of Abercrombie & Fitch Co. in a research report on Friday, September 23rd. Credit Suisse Group AG reissued a “sell” rating and issued a $18.00 target price on shares of Abercrombie & Fitch Co. in a research report on Friday, August 26th. Deutsche Bank AG reissued a “hold” rating and issued a $20.00 target price (down previously from $23.00) on shares of Abercrombie & Fitch Co. in a research report on Monday, August 15th. Jefferies Group reissued a “buy” rating on shares of Abercrombie & Fitch Co. in a research report on Tuesday, August 23rd. Finally, Bank of America Corp. initiated coverage on shares of Abercrombie & Fitch Co. in a research report on Wednesday, September 28th. They issued an “underperform” rating and a $16.00 target price for the company. Seven investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have given a buy rating to the stock. Abercrombie & Fitch Co. currently has an average rating of “Hold” and an average price target of $21.85.
Abercrombie & Fitch Co. (NYSE:ANF) opened at 15.99 on Monday. The stock has a market capitalization of $1.08 billion, a PE ratio of 23.51 and a beta of 1.31. Abercrombie & Fitch Co. has a 12-month low of $14.00 and a 12-month high of $32.83. The company’s 50-day moving average is $15.54 and its 200 day moving average is $19.34.
Abercrombie & Fitch Co. (NYSE:ANF) last released its quarterly earnings results on Tuesday, August 30th. The apparel retailer reported ($0.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by $0.05. Abercrombie & Fitch Co. had a return on equity of 3.98% and a net margin of 1.36%. The firm had revenue of $783.20 million for the quarter, compared to analysts’ expectations of $782.64 million. During the same period last year, the firm earned $0.12 EPS. The business’s quarterly revenue was down 4.2% on a year-over-year basis. On average, analysts predict that Abercrombie & Fitch Co. will post $0.47 EPS for the current year.
In other Abercrombie & Fitch Co. news, insider Bonadies Fran Horowitz bought 15,000 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was bought at an average cost of $17.32 per share, with a total value of $259,800.00. Following the completion of the transaction, the insider now directly owns 44,701 shares of the company’s stock, valued at approximately $774,221.32. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Craig R. Stapleton bought 10,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was acquired at an average cost of $17.65 per share, with a total value of $176,500.00. Following the completion of the transaction, the director now directly owns 57,398 shares of the company’s stock, valued at $1,013,074.70. The disclosure for this purchase can be found here. 0.85% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of ANF. Panagora Asset Management Inc. increased its stake in Abercrombie & Fitch Co. by 86.8% in the third quarter. Panagora Asset Management Inc. now owns 7,104 shares of the apparel retailer’s stock valued at $113,000 after buying an additional 3,302 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Abercrombie & Fitch Co. during the second quarter valued at approximately $139,000. Macquarie Group Ltd. acquired a new stake in Abercrombie & Fitch Co. during the second quarter valued at approximately $169,000. Teacher Retirement System of Texas increased its stake in Abercrombie & Fitch Co. by 12.4% in the second quarter. Teacher Retirement System of Texas now owns 9,546 shares of the apparel retailer’s stock valued at $170,000 after buying an additional 1,053 shares in the last quarter. Finally, Suntrust Banks Inc. acquired a new stake in Abercrombie & Fitch Co. during the third quarter valued at approximately $172,000.
About Abercrombie & Fitch Co.
Abercrombie & Fitch Co (A&F) is a specialty retailer that operates stores and direct-to-consumer operations. Through these channels, the Company sells products, including casual sportswear apparel, including knit tops and woven shirts, graphic t-shirts, fleece, jeans and woven pants, shorts, sweaters and outerwear; personal care products, and accessories for men, women and kids under the Abercrombie & Fitch, abercrombie kids and Hollister brands.
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