Abercrombie & Fitch (NYSE:ANF) Trading 6.8% Higher After Analyst Upgrade

Abercrombie & Fitch Co. (NYSE:ANF – Get Rating)’s stock price traded up 6.8% during mid-day trading on Friday after StockNews.com upgraded the stock from a hold rating to a buy rating. The company traded as high as $30.64 and last traded at $30.49. 521,068 shares changed hands during trading, a decline of 70% from the average session volume of 1,713,581 shares. The stock had previously closed at $28.56.

Other analysts have also recently issued research reports about the company. Morgan Stanley boosted their target price on Abercrombie & Fitch from $16.00 to $17.00 and gave the stock an “underweight” rating in a report on Thursday, March 2nd. UBS Group boosted their target price on Abercrombie & Fitch from $28.00 to $32.00 in a report on Thursday. Argus cut Abercrombie & Fitch from a “buy” rating to a “hold” rating in a report on Wednesday, April 12th. Citigroup boosted their target price on Abercrombie & Fitch from $24.00 to $33.00 in a report on Thursday. Finally, JPMorgan Chase & Co. reduced their price target on Abercrombie & Fitch from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, March 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Abercrombie & Fitch currently has an average rating of “Hold” and an average price target of $28.75.

Hedge Funds Weigh In On Abercrombie & Fitch

Several hedge funds and other institutional investors have recently bought and sold shares of ANF. First Republic Investment Management Inc. grew its stake in Abercrombie & Fitch by 2.3% during the 1st quarter. First Republic Investment Management Inc. now owns 21,072 shares of the apparel retailer’s stock worth $674,000 after buying an additional 483 shares during the last quarter. Metropolitan Life Insurance Co NY grew its stake in Abercrombie & Fitch by 19.9% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 3,078 shares of the apparel retailer’s stock worth $71,000 after buying an additional 511 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its stake in Abercrombie & Fitch by 19.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,078 shares of the apparel retailer’s stock worth $71,000 after buying an additional 511 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV grew its stake in Abercrombie & Fitch by 4.3% during the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 13,471 shares of the apparel retailer’s stock worth $309,000 after buying an additional 554 shares during the last quarter. Finally, SummerHaven Investment Management LLC grew its stake in Abercrombie & Fitch by 1.3% during the 4th quarter. SummerHaven Investment Management LLC now owns 45,814 shares of the apparel retailer’s stock worth $1,050,000 after buying an additional 600 shares during the last quarter.

Abercrombie & Fitch Stock Performance

The stock has a market capitalization of $1.50 billion, a P/E ratio of 42.79 and a beta of 1.45. The stock has a 50 day moving average of $24.97 and a 200 day moving average of $25.34. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.44.

Abercrombie & Fitch (NYSE:ANF – Get Rating) last released its quarterly earnings results on Wednesday, May 24th. The apparel retailer reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.41. Abercrombie & Fitch had a return on equity of 6.82% and a net margin of 0.96%. The company had revenue of $836.00 million during the quarter, compared to analysts’ expectations of $814.93 million. During the same quarter in the prior year, the business posted ($0.27) earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts predict that Abercrombie & Fitch Co. will post 1.43 EPS for the current year.

Abercrombie & Fitch Company Profile

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Abercrombie & Fitch Co engages in the retail of apparel, personal care products, and accessories. It offers apparel products, including knit tops, woven shirts, graphic t-shirts, fleece, sweaters, jeans, woven pants, shorts, outerwear, dresses, intimates and swimwear, and personal care products and accessories for men, women, and kids under the Abercrombie & Fitch, abercrombie kids, Hollister and Gilly Hicks brands.