Telsey Advisory Group Increases Abercrombie & Fitch Company (ANF) Price Target to $12.00
Abercrombie & Fitch Company (NYSE:ANF) had its price objective upped by equities research analysts at Telsey Advisory Group from $11.00 to $12.00 in a report released on Friday. The firm currently has a “market perform” rating on the apparel retailer’s stock. Telsey Advisory Group’s price objective would indicate a potential downside of 2.76% from the company’s current price.
ANF has been the topic of several other reports. Deutsche Bank AG cut their target price on Abercrombie & Fitch to $9.00 and set a “sell” rating on the stock in a research report on Monday, July 10th. TheStreet downgraded Abercrombie & Fitch from a “c-” rating to a “d+” rating in a research report on Thursday, June 15th. Vetr downgraded Abercrombie & Fitch from a “buy” rating to a “hold” rating and set a $12.58 target price on the stock. in a research report on Monday, May 1st. Royal Bank Of Canada set a $12.00 target price on Abercrombie & Fitch and gave the company a “sell” rating in a research report on Saturday, May 13th. Finally, Zacks Investment Research raised Abercrombie & Fitch from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Eleven research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $13.27.
Abercrombie & Fitch (NYSE ANF) opened at 12.34 on Friday. Abercrombie & Fitch has a 52-week low of $8.81 and a 52-week high of $23.29. The stock’s market cap is $839.32 million. The firm has a 50-day moving average price of $9.80 and a 200 day moving average price of $11.57.
Abercrombie & Fitch (NYSE:ANF) last released its earnings results on Thursday, August 24th. The apparel retailer reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.17. Abercrombie & Fitch had a negative return on equity of 0.79% and a negative net margin of 0.62%. The firm had revenue of $779 million for the quarter, compared to the consensus estimate of $758.57 million. During the same period in the prior year, the firm earned ($0.25) EPS. The firm’s revenue was down .5% on a year-over-year basis. On average, analysts forecast that Abercrombie & Fitch will post ($0.17) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position 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 valued at $99,898,000 after buying an additional 8,354,665 shares during the period. Southpoint Capital Advisors LP bought a new position in Abercrombie & Fitch during the second quarter valued at $18,038,000. Victory Capital Management Inc. bought a new position in Abercrombie & Fitch during the second quarter valued at $10,138,000. Balyasny Asset Management LLC bought a new position in Abercrombie & Fitch during the second quarter valued at $10,120,000. Finally, Quinn Opportunity Partners LLC increased its position 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 valued at $20,215,000 after buying an additional 679,745 shares during the period.
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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