Abercrombie & Fitch (NYSE:ANF) Lifted to Buy at UBS Group


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Abercrombie & Fitch (NYSE:ANF) was upgraded by research analysts at UBS Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Benzinga reports.

Several other research firms also recently issued reports on ANF. Royal Bank of Canada increased their price objective on shares of Abercrombie & Fitch from $27.00 to $30.00 and gave the company a “sector perform” rating in a report on Wednesday, March 3rd. B. Riley raised their price target on shares of Abercrombie & Fitch from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, March 24th. Wedbush raised their price objective on shares of Abercrombie & Fitch from $18.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, March 4th. Citigroup raised their price objective on shares of Abercrombie & Fitch from $28.00 to $33.00 in a research report on Wednesday, March 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Abercrombie & Fitch from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 16th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $27.83.

Shares of NYSE:ANF traded down $1.09 during midday trading on Tuesday, reaching $38.76. The company’s stock had a trading volume of 42,065 shares, compared to its average volume of 1,546,375. The firm has a market capitalization of $2.41 billion, a PE ratio of -20.80 and a beta of 1.82. Abercrombie & Fitch has a twelve month low of $8.80 and a twelve month high of $40.08. The stock has a fifty day moving average of $32.73 and a 200 day moving average of $23.27. The company has a quick ratio of 1.02, a current ratio of 1.60 and a debt-to-equity ratio of 0.40.

Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings data on Monday, March 1st. The apparel retailer reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.28. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.12 billion. Abercrombie & Fitch had a negative net margin of 3.55% and a negative return on equity of 6.61%. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.31 earnings per share. Sell-side analysts anticipate that Abercrombie & Fitch will post -1.11 earnings per share for the current fiscal year.

In other Abercrombie & Fitch news, insider Kristin A. Scott sold 152,509 shares of Abercrombie & Fitch stock in a transaction dated Monday, January 25th. The shares were sold at an average price of $25.00, for a total transaction of $3,812,725.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Suzanne M. Coulter purchased 2,170 shares of the company’s stock in a transaction on Monday, March 15th. The shares were bought at an average price of $34.61 per share, with a total value of $75,103.70. Following the completion of the transaction, the director now owns 2,170 shares of the company’s stock, valued at $75,103.70. The disclosure for this purchase can be found here. 1.60% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Seven Eight Capital LP grew its holdings in shares of Abercrombie & Fitch by 119.6% in the fourth quarter. Seven Eight Capital LP now owns 107,398 shares of the apparel retailer’s stock valued at $2,187,000 after purchasing an additional 58,498 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Abercrombie & Fitch in the fourth quarter worth approximately $1,897,000. Brinker Capital Investments LLC purchased a new position in Abercrombie & Fitch in the third quarter worth approximately $515,000. ING Groep NV lifted its stake in Abercrombie & Fitch by 135.4% in the fourth quarter. ING Groep NV now owns 47,073 shares of the apparel retailer’s stock worth $958,000 after acquiring an additional 27,073 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Abercrombie & Fitch by 124.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,194,108 shares of the apparel retailer’s stock worth $24,311,000 after acquiring an additional 661,373 shares during the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

About Abercrombie & Fitch

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

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Analyst Recommendations for Abercrombie & Fitch (NYSE:ANF)

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