Abercrombie & Fitch (NYSE:ANF) Raised to Neutral at Wedbush

Wedbush upgraded shares of Abercrombie & Fitch (NYSE:ANF) from an underperform rating to a neutral rating in a research report report published on Thursday morning, 24/7 WallStreet reports. The brokerage currently has $18.00 target price on the apparel retailer’s stock, up from their prior target price of $16.00. The analysts noted that the move was a valuation call.

Other analysts have also recently issued reports about the company. Bank of America set a $165.00 target price on PVH and gave the company a buy rating in a research report on Thursday, May 30th. Argus cut Abercrombie & Fitch from a buy rating to a hold rating in a research report on Friday, May 31st. ValuEngine raised Zuora from a hold rating to a buy rating in a research report on Saturday, July 6th. Zacks Investment Research cut HENGAN INTL GRP/ADR from a strong-buy rating to a hold rating in a research report on Tuesday, May 21st. Finally, B. Riley set a $26.00 price objective on Abercrombie & Fitch and gave the stock a hold rating in a research report on Wednesday, June 5th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $22.33.

Shares of NYSE ANF opened at $18.10 on Thursday. The firm has a market cap of $1.19 billion, a PE ratio of 15.74, a PEG ratio of 1.34 and a beta of 0.90. The company has a current ratio of 1.64, a quick ratio of 1.04 and a debt-to-equity ratio of 1.32. Abercrombie & Fitch has a 52-week low of $14.66 and a 52-week high of $30.63. The firm has a 50-day moving average price of $17.18.

Abercrombie & Fitch (NYSE:ANF) last announced its earnings results on Wednesday, May 29th. The apparel retailer reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.14. The firm had revenue of $733.97 million during the quarter, compared to analysts’ expectations of $730.79 million. Abercrombie & Fitch had a return on equity of 8.73% and a net margin of 2.76%. The business’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.56) EPS. As a group, research analysts forecast that Abercrombie & Fitch will post 0.85 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, June 7th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend was Thursday, June 6th. Abercrombie & Fitch’s dividend payout ratio (DPR) is 69.57%.

Several hedge funds have recently modified their holdings of the company. First Trust Advisors LP lifted its holdings in Abercrombie & Fitch by 11.3% in the fourth quarter. First Trust Advisors LP now owns 102,961 shares of the apparel retailer’s stock valued at $2,064,000 after acquiring an additional 10,466 shares during the period. New York State Common Retirement Fund increased its position in shares of Abercrombie & Fitch by 47.2% in the fourth quarter. New York State Common Retirement Fund now owns 276,300 shares of the apparel retailer’s stock valued at $5,540,000 after buying an additional 88,581 shares in the last quarter. BlackRock Inc. increased its position in shares of Abercrombie & Fitch by 1.1% in the fourth quarter. BlackRock Inc. now owns 9,748,353 shares of the apparel retailer’s stock valued at $195,453,000 after buying an additional 106,499 shares in the last quarter. Texas Permanent School Fund increased its position in shares of Abercrombie & Fitch by 2.2% during the fourth quarter. Texas Permanent School Fund now owns 43,087 shares of the apparel retailer’s stock worth $864,000 after purchasing an additional 946 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in Abercrombie & Fitch in the 4th quarter valued at $1,334,000.

Abercrombie & Fitch Company Profile

Abercrombie & Fitch Co, through its subsidiaries, operates as a specialty retailer. The Company operates in two segments, Hollister and Abercrombie. It offers apparel, personal care products, intimates, and accessories for men, women, and children under the Hollister, Abercrombie & Fitch, abercrombie kids, and Gilly Hicks brands.

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Analyst Recommendations for Abercrombie & Fitch (NYSE:ANF)

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