Wall Street Zen Downgrades Abercrombie & Fitch (NYSE:ANF) to Hold

Abercrombie & Fitch (NYSE:ANF) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

ANF has been the topic of several other research reports. BTIG Research reiterated a “buy” rating on shares of Abercrombie & Fitch in a research report on Tuesday, January 13th. Jefferies Financial Group reiterated a “buy” rating and set a $145.00 price target on shares of Abercrombie & Fitch in a report on Monday, January 5th. Citigroup raised shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $90.00 to $135.00 in a report on Wednesday, January 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Abercrombie & Fitch in a research report on Thursday, October 30th. Finally, UBS Group upped their price objective on Abercrombie & Fitch from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Abercrombie & Fitch presently has a consensus rating of “Moderate Buy” and an average target price of $124.60.

Abercrombie & Fitch Price Performance

NYSE ANF opened at $93.78 on Friday. The company has a market capitalization of $4.30 billion, a PE ratio of 8.99 and a beta of 1.19. The company has a fifty day moving average of $109.54 and a two-hundred day moving average of $93.67. Abercrombie & Fitch has a 1 year low of $65.40 and a 1 year high of $133.11.

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

Insider Buying and Selling

In related news, CEO Fran Horowitz sold 29,769 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $100.00, for a total value of $2,976,900.00. Following the completion of the transaction, the chief executive officer owned 308,503 shares of the company’s stock, valued at approximately $30,850,300. The trade was a 8.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 350,000 shares of company stock worth $34,661,358 in the last quarter. 2.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Abercrombie & Fitch

Several hedge funds and other institutional investors have recently modified their holdings of ANF. Wellington Management Group LLP increased its stake in Abercrombie & Fitch by 5,749.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,194,013 shares of the apparel retailer’s stock valued at $102,148,000 after purchasing an additional 1,173,601 shares in the last quarter. Valeo Financial Advisors LLC grew its position in shares of Abercrombie & Fitch by 10,469.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 993,101 shares of the apparel retailer’s stock worth $82,278,000 after buying an additional 983,705 shares during the last quarter. Norges Bank purchased a new position in Abercrombie & Fitch during the fourth quarter valued at $98,961,000. Brandywine Global Investment Management LLC bought a new stake in Abercrombie & Fitch during the 2nd quarter valued at about $61,643,000. Finally, M&T Bank Corp bought a new position in Abercrombie & Fitch during the fourth quarter valued at approximately $86,383,000.

About Abercrombie & Fitch

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.