Abercrombie & Fitch (NYSE:ANF) Price Target Cut to $35.00

Abercrombie & Fitch (NYSE:ANFGet Rating) had its target price lowered by B. Riley from $48.00 to $35.00 in a report released on Wednesday, The Fly reports. The firm currently has a buy rating on the apparel retailer’s stock. B. Riley also issued estimates for Abercrombie & Fitch’s Q2 2023 earnings at $0.29 EPS, Q3 2023 earnings at $0.48 EPS, Q4 2023 earnings at $1.76 EPS, FY2023 earnings at $2.20 EPS and FY2024 earnings at $3.20 EPS.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. raised their price target on Abercrombie & Fitch from $35.00 to $39.00 in a research report on Monday, May 16th. Morgan Stanley dropped their price target on Abercrombie & Fitch from $32.00 to $17.00 and set an underweight rating for the company in a research report on Wednesday. UBS Group dropped their price target on Abercrombie & Fitch from $34.00 to $21.00 and set a neutral rating for the company in a research report on Wednesday. Telsey Advisory Group dropped their price target on Abercrombie & Fitch from $40.00 to $30.00 and set an outperform rating for the company in a research report on Wednesday. Finally, Citigroup cut Abercrombie & Fitch from a buy rating to a neutral rating and dropped their price target for the company from $59.00 to $30.00 in a research report on Monday, May 23rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $32.78.

NYSE:ANF opened at $22.55 on Wednesday. The stock has a fifty day moving average price of $32.23 and a two-hundred day moving average price of $34.81. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 5.34 and a beta of 1.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.97 and a current ratio of 1.49. Abercrombie & Fitch has a 1 year low of $18.31 and a 1 year high of $48.97.

Abercrombie & Fitch (NYSE:ANFGet Rating) last released its quarterly earnings data on Tuesday, May 24th. The apparel retailer reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.29). The business had revenue of $812.80 million during the quarter, compared to analysts’ expectations of $799.33 million. Abercrombie & Fitch had a return on equity of 29.73% and a net margin of 7.08%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. On average, analysts predict that Abercrombie & Fitch will post 3.37 EPS for the current year.

Institutional investors have recently bought and sold shares of the stock. LSV Asset Management increased its position in Abercrombie & Fitch by 488.0% during the 4th quarter. LSV Asset Management now owns 224,600 shares of the apparel retailer’s stock worth $7,823,000 after purchasing an additional 186,400 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Abercrombie & Fitch in the 3rd quarter worth about $160,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Abercrombie & Fitch in the 4th quarter worth about $177,000. Quantinno Capital Management LP acquired a new stake in Abercrombie & Fitch in the 3rd quarter worth about $222,000. Finally, Pacer Advisors Inc. boosted its stake in Abercrombie & Fitch by 51.2% in the 4th quarter. Pacer Advisors Inc. now owns 309,336 shares of the apparel retailer’s stock worth $10,774,000 after buying an additional 104,757 shares during the last quarter. Hedge funds and other institutional investors own 99.58% of the company’s stock.

Abercrombie & Fitch Company Profile (Get Rating)

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, and accessories for men, women, and children under the Hollister, Abercrombie & Fitch, abercrombie kids, Moose, Seagull, Gilly Hicks, and Social Tourist brands.

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