Abercrombie & Fitch (NYSE:ANF) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Abercrombie & Fitch (NYSE:ANF) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

ANF has been the topic of several other reports. JPMorgan Chase & Co. raised their price target on Abercrombie & Fitch from $92.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. BTIG Research cut their target price on shares of Abercrombie & Fitch from $120.00 to $118.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. Citigroup lifted their target price on shares of Abercrombie & Fitch from $79.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. The Goldman Sachs Group assumed coverage on shares of Abercrombie & Fitch in a research report on Thursday, December 11th. They set a “buy” rating and a $120.00 price target for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Abercrombie & Fitch in a report on Thursday, October 30th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.10.

Abercrombie & Fitch Stock Performance

Shares of ANF opened at $129.75 on Friday. Abercrombie & Fitch has a fifty-two week low of $65.40 and a fifty-two week high of $164.80. The business has a 50-day moving average of $90.15 and a 200 day moving average of $89.14. The firm has a market cap of $5.95 billion, a P/E ratio of 12.44 and a beta of 1.17.

Abercrombie & Fitch (NYSE:ANF) last announced its quarterly earnings results on Wednesday, November 26th. The apparel retailer reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.22. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Abercrombie & Fitch had a return on equity of 38.01% and a net margin of 10.07%.The company’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.50 earnings per share. As a group, research analysts predict that Abercrombie & Fitch will post 10.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Abercrombie & Fitch

Several large investors have recently modified their holdings of ANF. Parallel Advisors LLC lifted its position in Abercrombie & Fitch by 17.6% in the 3rd quarter. Parallel Advisors LLC now owns 967 shares of the apparel retailer’s stock valued at $83,000 after acquiring an additional 145 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Abercrombie & Fitch by 0.4% in the second quarter. Franklin Resources Inc. now owns 47,779 shares of the apparel retailer’s stock worth $3,958,000 after purchasing an additional 167 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Abercrombie & Fitch by 1.8% during the second quarter. Valeo Financial Advisors LLC now owns 9,569 shares of the apparel retailer’s stock valued at $793,000 after purchasing an additional 173 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Abercrombie & Fitch by 0.6% during the first quarter. Voya Investment Management LLC now owns 31,095 shares of the apparel retailer’s stock valued at $2,375,000 after purchasing an additional 180 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Abercrombie & Fitch by 2.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,897 shares of the apparel retailer’s stock valued at $590,000 after buying an additional 194 shares during 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.