Abercrombie & Fitch Co. (ANF) Downgraded to Underperform at RBC Capital Markets
Abercrombie & Fitch Co. (NYSE:ANF) was downgraded by equities researchers at RBC Capital Markets from a “sector perform” rating to an “underperform” rating in a research report issued on Monday. They presently have a $12.00 price objective on the apparel retailer’s stock, down from their prior price objective of $20.00. RBC Capital Markets’ price objective would suggest a potential downside of 17.81% from the company’s previous close.
A number of other brokerages also recently weighed in on ANF. Standpoint Research upgraded shares of Abercrombie & Fitch Co. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 30th. Credit Suisse Group AG reissued a “sell” rating and set a $18.00 target price on shares of Abercrombie & Fitch Co. in a research note on Friday, August 26th. Mizuho lowered their target price on Abercrombie & Fitch Co. from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, August 25th. Jefferies Group reissued a “buy” rating on shares of Abercrombie & Fitch Co. in a research note on Tuesday, August 23rd. Finally, Deutsche Bank AG reissued a “hold” rating and set a $20.00 target price (down from $23.00) on shares of Abercrombie & Fitch Co. in a research note on Monday, August 15th. Eight investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $20.77.
Shares of Abercrombie & Fitch Co. (NYSE:ANF) opened at 14.60 on Monday. The firm has a market capitalization of $987.85 million, a PE ratio of 21.47 and a beta of 1.31. The stock has a 50 day moving average of $15.57 and a 200-day moving average of $18.97. Abercrombie & Fitch Co. has a 52 week low of $14.00 and a 52 week high of $32.83.
Abercrombie & Fitch Co. (NYSE:ANF) last announced its quarterly earnings results on Friday, November 18th. The apparel retailer reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by $0.19. The firm earned $821.70 million during the quarter. Abercrombie & Fitch Co. had a net margin of 0.38% and a return on equity of 1.50%. Abercrombie & Fitch Co.’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. Equities analysts anticipate that Abercrombie & Fitch Co. will post $0.46 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, December 2nd will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date is Wednesday, November 30th. Abercrombie & Fitch Co.’s payout ratio is currently 421.05%.
In other Abercrombie & Fitch Co. news, Director Craig R. Stapleton bought 10,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were purchased at an average price of $17.65 per share, for a total transaction of $176,500.00. Following the completion of the transaction, the director now directly owns 57,398 shares in the company, valued at approximately $1,013,074.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bonadies Fran Horowitz bought 15,000 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was acquired at an average price of $17.32 per share, for a total transaction of $259,800.00. Following the transaction, the insider now owns 44,701 shares of the company’s stock, valued at $774,221.32. The disclosure for this purchase can be found here. 0.85% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. boosted its position 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 worth $113,000 after buying an additional 3,302 shares in the last quarter. Quantbot Technologies LP acquired a new position in Abercrombie & Fitch Co. during the second quarter worth about $139,000. Macquarie Group Ltd. acquired a new position in Abercrombie & Fitch Co. during the second quarter worth about $169,000. Teacher Retirement System of Texas boosted its position 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 worth $170,000 after buying an additional 1,053 shares in the last quarter. Finally, Suntrust Banks Inc. acquired a new position in Abercrombie & Fitch Co. during the third quarter worth about $172,000.
Abercrombie & Fitch Co. Company Profile
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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