Abercrombie & Fitch Co. (NYSE:ANF) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Abercrombie & Fitch Co. (NYSE:ANF) have been given an average rating of “Moderate Buy” by the eight analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $140.88.

Several brokerages have recently weighed in on ANF. StockNews.com cut shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Sunday. Citigroup decreased their price objective on Abercrombie & Fitch from $160.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Raymond James set a $110.00 target price on Abercrombie & Fitch in a research note on Thursday, March 6th. Telsey Advisory Group reduced their target price on Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Finally, Jefferies Financial Group lowered their price target on Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, March 5th.

Abercrombie & Fitch Stock Down 2.7 %

ANF opened at $76.59 on Thursday. The stock’s fifty day moving average is $116.59 and its two-hundred day moving average is $134.89. The company has a market capitalization of $3.86 billion, a P/E ratio of 7.58 and a beta of 1.45. Abercrombie & Fitch has a 52 week low of $75.02 and a 52 week high of $196.99.

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

Abercrombie & Fitch declared that its Board of Directors has initiated a stock repurchase program on Wednesday, March 5th that permits the company to repurchase $1.30 billion in shares. This repurchase authorization permits the apparel retailer to repurchase up to 29.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Abercrombie & Fitch

A number of institutional investors and hedge funds have recently modified their holdings of ANF. US Bancorp DE raised its position in Abercrombie & Fitch by 62.2% during the 3rd quarter. US Bancorp DE now owns 1,476 shares of the apparel retailer’s stock worth $206,000 after buying an additional 566 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Abercrombie & Fitch by 81.5% during 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. Janney Montgomery Scott LLC lifted its position in Abercrombie & Fitch by 18.7% during the third quarter. Janney Montgomery Scott LLC now owns 11,619 shares of the apparel retailer’s stock valued at $1,625,000 after purchasing an additional 1,831 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Abercrombie & Fitch by 233.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 88,291 shares of the apparel retailer’s stock valued at $12,352,000 after purchasing an additional 61,798 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in Abercrombie & Fitch by 1,718.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 8,929 shares of the apparel retailer’s stock worth $1,249,000 after purchasing an additional 8,438 shares during the period.

About Abercrombie & Fitch

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.