Abercrombie & Fitch (ANF) Trading Down 5.5% on Analyst Downgrade

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Abercrombie & Fitch Co. (NYSE:ANF) fell 5.5% on Thursday after Wedbush lowered their price target on the stock from $25.00 to $17.00. Wedbush currently has a neutral rating on the stock. Abercrombie & Fitch traded as low as $17.51 and last traded at $17.99. 4,653,690 shares were traded during mid-day trading, an increase of 70% from the average session volume of 2,733,097 shares. The stock had previously closed at $19.03.

Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $16.00 price target on shares of Abercrombie & Fitch in a research note on Thursday. Morgan Stanley lifted their price target on shares of Abercrombie & Fitch from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Tuesday, September 4th. ValuEngine downgraded shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research note on Thursday, August 30th. William Blair downgraded shares of Abercrombie & Fitch from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 30th. Finally, Zacks Investment Research downgraded shares of Abercrombie & Fitch from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 22nd. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. Abercrombie & Fitch currently has a consensus rating of “Hold” and an average price target of $21.14.

Several large investors have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan boosted its holdings in Abercrombie & Fitch by 7.9% during the second quarter. Municipal Employees Retirement System of Michigan now owns 29,320 shares of the apparel retailer’s stock worth $717,000 after purchasing an additional 2,150 shares during the last quarter. Vident Investment Advisory LLC boosted its holdings in Abercrombie & Fitch by 1.5% during the second quarter. Vident Investment Advisory LLC now owns 159,430 shares of the apparel retailer’s stock worth $3,903,000 after purchasing an additional 2,391 shares during the last quarter. Federated Investors Inc. PA boosted its holdings in Abercrombie & Fitch by 1.0% during the second quarter. Federated Investors Inc. PA now owns 255,770 shares of the apparel retailer’s stock worth $6,262,000 after purchasing an additional 2,482 shares during the last quarter. NumerixS Investment Technologies Inc boosted its holdings in Abercrombie & Fitch by 25.0% during the second quarter. NumerixS Investment Technologies Inc now owns 17,125 shares of the apparel retailer’s stock worth $439,000 after purchasing an additional 3,425 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its holdings in Abercrombie & Fitch by 17.8% during the second quarter. Wedge Capital Management L L P NC now owns 24,056 shares of the apparel retailer’s stock worth $589,000 after purchasing an additional 3,639 shares during the last quarter.

The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 1.82 and a beta of 0.45. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.43 and a current ratio of 2.25.

Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings results on Thursday, August 30th. The apparel retailer reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.10. Abercrombie & Fitch had a net margin of 1.05% and a return on equity of 7.02%. The business had revenue of $842.41 million for the quarter, compared to analysts’ expectations of $845.11 million. During the same period in the previous year, the company earned ($0.16) earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. Analysts forecast that Abercrombie & Fitch Co. will post 0.76 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Friday, September 7th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.34%. The ex-dividend date was Thursday, September 6th. Abercrombie & Fitch’s dividend payout ratio (DPR) is presently 123.08%.

About Abercrombie & Fitch (NYSE:ANF)

Abercrombie & Fitch Co, through its subsidiaries, operates as a specialty retailer. The Company operates in two segments, Hollister and Abercrombie. It offers apparel, intimates, personal care products, and accessories for men, women, and kids under the Hollister, Abercrombie & Fitch, abercrombie kids, and Gilly Hicks brand names.

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