Abercrombie & Fitch Co. (NYSE:ANF) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Abercrombie & Fitch Co. (NYSE:ANF) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $140.88.

Several equities analysts have commented on ANF shares. Jefferies Financial Group dropped their price target on shares of Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Citigroup lowered their target price on Abercrombie & Fitch from $160.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. StockNews.com lowered Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Sunday, March 9th. Telsey Advisory Group lowered their price objective on Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Abercrombie & Fitch from $189.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th.

Institutional Investors Weigh In On Abercrombie & Fitch

Large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new position in Abercrombie & Fitch during the fourth quarter worth about $27,000. UMB Bank n.a. raised its stake in shares of Abercrombie & Fitch by 92.2% during the 4th quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer’s stock worth $33,000 after buying an additional 107 shares in the last quarter. Private Trust Co. NA raised its stake in shares of Abercrombie & Fitch by 604.4% during the 3rd quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock worth $44,000 after buying an additional 272 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Abercrombie & Fitch by 56.2% in the 4th quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer’s stock valued at $55,000 after buying an additional 132 shares during the period. Finally, Parkside Financial Bank & Trust purchased a new stake in shares of Abercrombie & Fitch in the fourth quarter valued at approximately $69,000.

Abercrombie & Fitch Stock Performance

Shares of ANF opened at $76.65 on Monday. The business’s 50-day moving average is $100.75 and its two-hundred day moving average is $129.47. The company has a market capitalization of $3.86 billion, a P/E ratio of 7.58 and a beta of 1.45. Abercrombie & Fitch has a fifty-two week low of $74.31 and a fifty-two week high of $196.99.

Abercrombie & Fitch (NYSE:ANF) last announced its earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.09. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.57 billion. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.97 EPS. Analysts forecast that Abercrombie & Fitch will post 10.62 EPS for the current year.

Abercrombie & Fitch announced that its board has approved a stock buyback plan on Wednesday, March 5th that authorizes the company to buyback $1.30 billion in shares. This buyback authorization authorizes the apparel retailer to purchase up to 29.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Abercrombie & Fitch Company Profile

Abercrombie & Fitch Co engages in the retail of apparel, personal care products, and accessories. The firm operates through following geographical segments: Americas, EMEA and APAC. The Americas segment includes operations in North America and South America. The EMEA segment includes operations in Europe, the Middle East and Africa.