Abercrombie & Fitch (NYSE:ANF) Upgraded by Citigroup to Buy Rating

Citigroup upgraded shares of Abercrombie & Fitch (NYSE:ANF) from a neutral rating to a buy rating in a research report sent to investors on Wednesday, MarketBeat.com reports. They currently have $135.00 price target on the apparel retailer’s stock, up from their previous price target of $90.00.

Several other brokerages have also recently issued reports on ANF. BTIG Research reaffirmed a “buy” rating on shares of Abercrombie & Fitch in a report on Tuesday, January 13th. Weiss Ratings restated a “hold (c)” rating on shares of Abercrombie & Fitch in a research report on Thursday, October 30th. UBS Group lifted their price target on Abercrombie & Fitch from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Wall Street Zen cut shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $125.00 target price on shares of Abercrombie & Fitch in a research report on Tuesday, January 13th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $124.60.

Abercrombie & Fitch Stock Performance

Abercrombie & Fitch stock opened at $99.07 on Wednesday. Abercrombie & Fitch has a one year low of $65.40 and a one year high of $133.11. The business has a fifty day moving average of $105.21 and a two-hundred day moving average of $93.15. The company has a market cap of $4.54 billion, a P/E ratio of 9.50 and a beta of 1.17.

Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings data on Wednesday, November 26th. The apparel retailer reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.22. Abercrombie & Fitch had a net margin of 10.07% and a return on equity of 38.01%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the firm earned $2.50 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. Sell-side analysts predict that Abercrombie & Fitch will post 10.62 EPS for the current year.

Institutional Investors Weigh In On Abercrombie & Fitch

Hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Abercrombie & Fitch by 3.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,517 shares of the apparel retailer’s stock valued at $2,254,000 after purchasing an additional 892 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Abercrombie & Fitch by 521.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,000 shares of the apparel retailer’s stock valued at $76,000 after buying an additional 839 shares during the period. United Services Automobile Association acquired a new position in shares of Abercrombie & Fitch during the 1st quarter valued at about $261,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Abercrombie & Fitch by 8.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 127,389 shares of the apparel retailer’s stock worth $9,729,000 after acquiring an additional 10,459 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of Abercrombie & Fitch by 178.6% in the second quarter. Parallel Advisors LLC now owns 822 shares of the apparel retailer’s stock worth $68,000 after acquiring an additional 527 shares during the last quarter.

Abercrombie & Fitch Company Profile

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.