Abercrombie & Fitch (NYSE:ANF) Upgraded at Citigroup

Abercrombie & Fitch (NYSE:ANF) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, Marketbeat.com reports. The firm presently has a $135.00 target price on the apparel retailer’s stock. Citigroup’s price objective would suggest a potential upside of 34.15% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Abercrombie & Fitch in a report on Thursday, October 30th. BTIG Research restated a “buy” rating on shares of Abercrombie & Fitch in a research note on Tuesday, January 13th. Wall Street Zen lowered Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Barclays boosted their price target on Abercrombie & Fitch from $94.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 6th. Finally, Zacks Research upgraded Abercrombie & Fitch from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Abercrombie & Fitch presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.60.

Abercrombie & Fitch Stock Performance

Abercrombie & Fitch stock opened at $100.63 on Wednesday. The firm has a market capitalization of $4.62 billion, a PE ratio of 9.65 and a beta of 1.17. Abercrombie & Fitch has a one year low of $65.40 and a one year high of $134.16. The stock’s 50 day moving average price is $104.65 and its 200 day moving average price is $93.11.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings data on Wednesday, November 26th. The apparel retailer reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.22. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Abercrombie & Fitch had a net margin of 10.07% and a return on equity of 38.01%. Abercrombie & Fitch’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $2.50 earnings per share. On average, analysts forecast that Abercrombie & Fitch will post 10.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Abercrombie & Fitch

Large investors have recently modified their holdings of the stock. NewEdge Advisors LLC grew its stake in Abercrombie & Fitch by 181.6% in the second quarter. NewEdge Advisors LLC now owns 352 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 227 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Abercrombie & Fitch during the second quarter valued at approximately $38,000. Blue Trust Inc. bought a new position in Abercrombie & Fitch during the 3rd quarter worth approximately $38,000. Hantz Financial Services Inc. lifted its holdings in Abercrombie & Fitch by 108.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 481 shares of the apparel retailer’s stock worth $41,000 after buying an additional 250 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in shares of Abercrombie & Fitch by 268.0% in the 3rd quarter. Bessemer Group Inc. now owns 666 shares of the apparel retailer’s stock worth $56,000 after acquiring an additional 485 shares in the last quarter.

About Abercrombie & Fitch

Abercrombie & Fitch Co (NYSE: ANF) is an American specialty retailer that designs, markets and sells casual apparel and accessories for men, women and children. Founded in 1892 by David T. Abercrombie and Ezra Fitch, the company evolved from an outdoor gear outfitter to a global lifestyle brand renowned for its relaxed, preppy aesthetic. Its product assortment includes tops, bottoms, outerwear, intimates, swimwear, fragrances and personal care items.

The company operates under multiple brand names, including Abercrombie & Fitch, Abercrombie Kids, Hollister and Gilly Hicks, each targeting distinct consumer segments from teens to young adults.