BMO Capital Markets Reaffirms Market Perform Rating for Abercrombie & Fitch Company (ANF)
Abercrombie & Fitch Company (NYSE:ANF)‘s stock had its “market perform” rating reiterated by stock analysts at BMO Capital Markets in a research report issued to clients and investors on Friday, MarketBeat reports. They currently have a $12.00 price target on the apparel retailer’s stock, down from their previous price target of $14.00. BMO Capital Markets’ target price would indicate a potential downside of 2.76% from the stock’s previous close.
ANF has been the subject of several other research reports. Deutsche Bank AG reduced their target price on shares of Abercrombie & Fitch to $9.00 and set a “sell” rating for the company in a report on Monday, July 10th. TheStreet cut shares of Abercrombie & Fitch from a “c-” rating to a “d+” rating in a report on Thursday, June 15th. Vetr cut shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating and set a $12.58 price objective for the company. in a report on Monday, May 1st. Royal Bank Of Canada set a $12.00 price objective on shares of Abercrombie & Fitch and gave the company a “sell” rating in a report on Saturday, May 13th. Finally, Zacks Investment Research raised shares of Abercrombie & Fitch from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Twelve investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $13.48.
Abercrombie & Fitch (NYSE ANF) traded up 9.69% during mid-day trading on Friday, reaching $12.34. The company’s stock had a trading volume of 13,547,991 shares. The company has a 50-day moving average price of $9.80 and a 200-day moving average price of $11.57. The firm’s market cap is $839.32 million. Abercrombie & Fitch has a 12-month low of $8.81 and a 12-month high of $23.29.
Abercrombie & Fitch (NYSE:ANF) last issued its earnings results on Thursday, August 24th. The apparel retailer reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.17. Abercrombie & Fitch had a negative net margin of 0.62% and a negative return on equity of 0.79%. The firm had revenue of $779 million during the quarter, compared to analysts’ expectations of $758.57 million. During the same quarter last year, the company posted ($0.25) earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts expect that Abercrombie & Fitch will post ($0.17) earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: “BMO Capital Markets Reaffirms Market Perform Rating for Abercrombie & Fitch Company (ANF)” was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be accessed at https://www.thecerbatgem.com/2017/08/25/bmo-capital-markets-cuts-abercrombie-fitch-company-anf-price-target-to-12-00.html.
Institutional investors have recently bought and sold shares of the stock. Cornerstone Capital Management Holdings LLC. purchased a new position in Abercrombie & Fitch during the second quarter valued at $114,000. Point72 Asia Hong Kong Ltd purchased a new position in Abercrombie & Fitch during the first quarter valued at $149,000. Suntrust Banks Inc. raised its position in Abercrombie & Fitch by 7.9% in the first quarter. Suntrust Banks Inc. now owns 12,765 shares of the apparel retailer’s stock valued at $152,000 after buying an additional 931 shares during the last quarter. State of Alaska Department of Revenue raised its position in Abercrombie & Fitch by 79.7% in the second quarter. State of Alaska Department of Revenue now owns 13,427 shares of the apparel retailer’s stock valued at $167,000 after buying an additional 5,957 shares during the last quarter. Finally, Quantitative Investment Management LLC purchased a new position in Abercrombie & Fitch during the second quarter valued at $170,000.
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.
Receive News & Stock Ratings for Abercrombie & Fitch Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abercrombie & Fitch Company and related stocks with our FREE daily email newsletter.