Abercrombie & Fitch (NYSE:ANF) Stock Rating Lowered by Zacks Investment Research

Abercrombie & Fitch (NYSE:ANFGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “strong sell” rating in a note issued to investors on Friday, Zacks.com reports. They presently have a $19.00 target price on the apparel retailer’s stock. Zacks Investment Research‘s target price indicates a potential downside of 12.20% from the company’s current price.

According to Zacks, “Shares of Abercrombie have declined and underperformed the industry in the past three months. The company reported loss per share in first-quarter fiscal 2022, which missed estimates and declined year over year. The dismal results can be attributed to a lower gross margin, on higher freight costs and increased operating expenses related to higher marketing expenses and the absence of last year’s rent abatements and stimulus payments. The company lowered its fiscal 2022 view on expectations of a volatile supply environment and higher freight costs. However, the company’s sales beat estimates and improved year over year in the fiscal first quarter on continued strength in the Abercrombie brand and growth in the United States. AUR improved for the eighth consecutive quarter driven by the favorable response to its products and experience.”

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. upped their target price on Abercrombie & Fitch from $35.00 to $39.00 in a research report on Monday, May 16th. Citigroup lowered shares of Abercrombie & Fitch from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $59.00 to $30.00 in a research note on Monday. StockNews.com raised shares of Abercrombie & Fitch from a “hold” rating to a “buy” rating in a research note on Wednesday. Morgan Stanley decreased their price target on shares of Abercrombie & Fitch from $32.00 to $17.00 and set an “underweight” rating on the stock in a research note on Wednesday. Finally, UBS Group decreased their price target on shares of Abercrombie & Fitch from $34.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.45.

Shares of NYSE:ANF traded down $0.21 during trading hours on Friday, hitting $21.64. 41,372 shares of the company’s stock traded hands, compared to its average volume of 2,149,739. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.49 and a quick ratio of 0.97. The firm has a market capitalization of $1.09 billion, a P/E ratio of 5.19 and a beta of 1.40. The business has a fifty day moving average price of $32.42 and a 200-day moving average price of $35.04. Abercrombie & Fitch has a 1 year low of $18.31 and a 1 year high of $48.97.

Abercrombie & Fitch (NYSE:ANFGet Rating) last posted its earnings results on Tuesday, May 24th. The apparel retailer reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.29). The company had revenue of $812.80 million for 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 firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. As a group, equities analysts predict that Abercrombie & Fitch will post 3.37 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of ANF. Advisor Group Holdings Inc. increased its position in Abercrombie & Fitch by 29.5% during the third quarter. Advisor Group Holdings Inc. now owns 5,585 shares of the apparel retailer’s stock worth $212,000 after purchasing an additional 1,272 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Abercrombie & Fitch by 22.6% in the third quarter. Teacher Retirement System of Texas now owns 10,054 shares of the apparel retailer’s stock valued at $378,000 after purchasing an additional 1,852 shares during the period. O Shaughnessy Asset Management LLC purchased a new position in shares of Abercrombie & Fitch in the third quarter valued at $126,000. Citigroup Inc. boosted its stake in Abercrombie & Fitch by 1.1% during the 3rd quarter. Citigroup Inc. now owns 87,700 shares of the apparel retailer’s stock valued at $3,300,000 after acquiring an additional 995 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Abercrombie & Fitch by 9.0% during the 3rd quarter. American Century Companies Inc. now owns 232,819 shares of the apparel retailer’s stock valued at $8,761,000 after acquiring an additional 19,314 shares during the last quarter. 99.58% of the stock is owned by hedge funds and other institutional investors.

About Abercrombie & Fitch (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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