Abercrombie & Fitch (NYSE:ANF) Price Target Raised to $27.00

Abercrombie & Fitch (NYSE:ANFGet Rating) had its target price lifted by research analysts at Telsey Advisory Group from $25.00 to $27.00 in a note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has an “outperform” rating on the apparel retailer’s stock. Telsey Advisory Group’s price objective would indicate a potential upside of 12.59% from the stock’s previous close. Telsey Advisory Group also issued estimates for Abercrombie & Fitch’s Q4 2024 earnings at $1.10 EPS and FY2024 earnings at $1.42 EPS.

Other equities analysts have also recently issued reports about the company. B. Riley cut their target price on Abercrombie & Fitch from $35.00 to $30.00 in a report on Tuesday, August 16th. StockNews.com started coverage on Abercrombie & Fitch in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Morgan Stanley lowered their price target on Abercrombie & Fitch from $17.00 to $15.00 and set an “underweight” rating for the company in a research report on Tuesday, August 30th. Citigroup lowered their price target on Abercrombie & Fitch from $21.00 to $19.00 in a research report on Wednesday, August 31st. Finally, JPMorgan Chase & Co. lowered their price target on Abercrombie & Fitch from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, October 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.33.

Abercrombie & Fitch Price Performance

Shares of ANF opened at $23.98 on Wednesday. Abercrombie & Fitch has a 12-month low of $14.02 and a 12-month high of $42.09. The business’s fifty day moving average is $17.31 and its 200 day moving average is $18.91. The company has a quick ratio of 0.58, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The stock has a market cap of $1.19 billion, a P/E ratio of 55.77 and a beta of 1.37.

Abercrombie & Fitch (NYSE:ANFGet Rating) last issued its earnings results on Tuesday, November 22nd. The apparel retailer reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14. Abercrombie & Fitch had a return on equity of 5.38% and a net margin of 0.82%. The company had revenue of $880.10 million for the quarter, compared to analysts’ expectations of $831.17 million. During the same period last year, the business earned $0.86 EPS. Abercrombie & Fitch’s quarterly revenue was down 2.8% compared to the same quarter last year. Sell-side analysts anticipate that Abercrombie & Fitch will post 0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Abercrombie & Fitch

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Banco Santander S.A. increased its position in shares of Abercrombie & Fitch by 108.9% during the 2nd quarter. Banco Santander S.A. now owns 16,331 shares of the apparel retailer’s stock valued at $276,000 after purchasing an additional 8,515 shares during the last quarter. Smith Graham & Co. Investment Advisors LP increased its position in shares of Abercrombie & Fitch by 3.5% during the 1st quarter. Smith Graham & Co. Investment Advisors LP now owns 107,489 shares of the apparel retailer’s stock valued at $3,439,000 after purchasing an additional 3,586 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Abercrombie & Fitch by 10.1% during the 2nd quarter. Victory Capital Management Inc. now owns 829,551 shares of the apparel retailer’s stock valued at $14,036,000 after purchasing an additional 75,965 shares during the last quarter. Versor Investments LP increased its position in shares of Abercrombie & Fitch by 52.6% during the 1st quarter. Versor Investments LP now owns 9,782 shares of the apparel retailer’s stock valued at $313,000 after purchasing an additional 3,372 shares during the last quarter. Finally, Contrarius Investment Management Ltd increased its position in shares of Abercrombie & Fitch by 58.5% during the 1st quarter. Contrarius Investment Management Ltd now owns 308,595 shares of the apparel retailer’s stock valued at $9,872,000 after purchasing an additional 113,880 shares during the last quarter. 95.22% of the stock is owned by hedge funds and other institutional investors.

About Abercrombie & Fitch

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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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