StockNews.com Downgrades Abercrombie & Fitch (NYSE:ANF) to Hold

Abercrombie & Fitch (NYSE:ANF) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Sunday.

ANF has been the topic of several other reports. JPMorgan Chase & Co. lowered their price target on shares of Abercrombie & Fitch from $189.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. UBS Group lowered their price objective on shares of Abercrombie & Fitch from $210.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Telsey Advisory Group dropped their price objective on shares of Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Morgan Stanley cut their target price on shares of Abercrombie & Fitch from $149.00 to $139.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 15th. Finally, Raymond James lowered their price target on shares of Abercrombie & Fitch from $180.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.88.

Abercrombie & Fitch Stock Down 9.1 %

Shares of ANF stock opened at $78.16 on Friday. The company’s fifty day simple moving average is $119.47 and its 200-day simple moving average is $135.94. Abercrombie & Fitch has a 12 month low of $77.19 and a 12 month high of $196.99. The firm has a market cap of $3.94 billion, a PE ratio of 7.73 and a beta of 1.45.

Abercrombie & Fitch (NYSE:ANF) last released its earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.09. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the business earned $2.97 earnings per share. On average, equities analysts predict that Abercrombie & Fitch will post 10.62 earnings per share for the current fiscal year.

Abercrombie & Fitch announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 5th that allows the company to buyback $1.30 billion in shares. This buyback authorization allows the apparel retailer to purchase up to 29.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Abercrombie & Fitch

A number of hedge funds and other institutional investors have recently made changes to their positions in ANF. SBI Securities Co. Ltd. purchased a new position in Abercrombie & Fitch in the fourth quarter valued at approximately $27,000. UMB Bank n.a. grew its position in Abercrombie & Fitch by 92.2% during the fourth quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer’s stock worth $33,000 after buying an additional 107 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Abercrombie & Fitch by 81.5% in the third quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer’s stock worth $38,000 after purchasing an additional 123 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Abercrombie & Fitch by 604.4% in the 3rd quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock worth $44,000 after purchasing an additional 272 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Abercrombie & Fitch by 56.2% in the 4th quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer’s stock worth $55,000 after acquiring an additional 132 shares during the last quarter.

Abercrombie & Fitch Company Profile

Abercrombie & Fitch Co engages in the retail of apparel, personal care products, and accessories. The firm operates through following geographical segments: Americas, EMEA and APAC. The Americas segment includes operations in North America and South America. The EMEA segment includes operations in Europe, the Middle East and Africa.