B. Riley Reaffirms “Neutral” Rating for Abercrombie & Fitch (ANF)

Abercrombie & Fitch (NYSE:ANF)‘s stock had its “neutral” rating reiterated by investment analysts at B. Riley in a report released on Thursday, Marketbeat Ratings reports. They currently have a $24.00 price objective on the apparel retailer’s stock, up from their prior price objective of $22.00. B. Riley’s target price would indicate a potential upside of 7.62% from the company’s previous close. B. Riley also issued estimates for Abercrombie & Fitch’s Q3 2019 earnings at $0.36 EPS and FY2020 earnings at $0.67 EPS.

A number of other research firms also recently issued reports on ANF. Robert W. Baird set a $27.00 price objective on shares of Abercrombie & Fitch and gave the stock a “hold” rating in a report on Wednesday. Royal Bank of Canada set a $27.00 price objective on shares of Abercrombie & Fitch and gave the stock a “hold” rating in a report on Wednesday. Jefferies Group set a $24.00 price objective on shares of Abercrombie & Fitch and gave the stock a “hold” rating in a report on Wednesday. BMO Capital Markets set a $23.00 target price on shares of Abercrombie & Fitch and gave the stock a “hold” rating in a research note on Wednesday. Finally, Bank of America lifted their target price on shares of Abercrombie & Fitch from $9.00 to $16.00 and gave the stock a “sell” rating in a research note on Wednesday, January 24th. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $17.24.

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Shares of Abercrombie & Fitch (ANF) opened at $22.30 on Thursday. Abercrombie & Fitch has a 1-year low of $8.81 and a 1-year high of $24.52. The company has a current ratio of 2.49, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1,520.00, a PE ratio of 63.71, a P/E/G ratio of 3.47 and a beta of 1.05.

Abercrombie & Fitch (NYSE:ANF) last posted its quarterly earnings data on Wednesday, March 7th. The apparel retailer reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.28. Abercrombie & Fitch had a net margin of 0.20% and a return on equity of 4.86%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company posted $0.71 earnings per share. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. analysts forecast that Abercrombie & Fitch will post 0.49 EPS for the current fiscal year.

In other news, Director Arthur C. Martinez sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $23.72, for a total value of $474,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.64% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in ANF. Contrarius Investment Management Ltd bought a new position in shares of Abercrombie & Fitch in the third quarter valued at approximately $15,040,000. Millennium Management LLC boosted its position in shares of Abercrombie & Fitch by 968.7% in the fourth quarter. Millennium Management LLC now owns 1,124,567 shares of the apparel retailer’s stock valued at $19,601,000 after acquiring an additional 1,019,343 shares during the period. Renaissance Technologies LLC bought a new position in shares of Abercrombie & Fitch in the fourth quarter valued at approximately $12,907,000. FrontFour Capital Group LLC bought a new position in shares of Abercrombie & Fitch in the third quarter valued at approximately $7,816,000. Finally, BlackRock Inc. boosted its position in shares of Abercrombie & Fitch by 5.8% in the fourth quarter. BlackRock Inc. now owns 8,868,479 shares of the apparel retailer’s stock valued at $154,577,000 after acquiring an additional 485,775 shares during the period. Institutional investors own 99.46% of the company’s stock.

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About Abercrombie & Fitch

Abercrombie & Fitch Co is a specialty retailer who primarily sells its products through store and direct-to-consumer operations, as well as through various wholesale, franchise and licensing arrangements. The Company operates through two segments: Abercrombie, which includes the Company’s Abercrombie & Fitch and abercrombie kids brands, and Hollister, which includes the Company’s Hollister and Gilly Hicks brands.

Analyst Recommendations for Abercrombie & Fitch (NYSE:ANF)

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