Abercrombie & Fitch (ANF) Stock Price Down 5.5% After Analyst Downgrade

Shares of Abercrombie & Fitch Co. (NYSE:ANF) fell 5.5% during mid-day trading on Thursday after Wedbush lowered their price target on the stock from $25.00 to $17.00. Wedbush currently has a neutral rating on the stock. Abercrombie & Fitch traded as low as $17.51 and last traded at $17.99. 4,653,690 shares changed hands during mid-day trading, an increase of 70% from the average session volume of 2,733,097 shares. The stock had previously closed at $19.03.

ANF has been the subject of a number of other reports. Morgan Stanley increased their price target on shares of Abercrombie & Fitch from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 4th. Zacks Investment Research raised shares of Abercrombie & Fitch from a “hold” rating to a “strong-buy” rating and set a $31.00 price target for the company in a research report on Monday, August 13th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $16.00 price target on shares of Abercrombie & Fitch in a research report on Thursday. William Blair lowered shares of Abercrombie & Fitch from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 30th. Finally, ValuEngine lowered shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Thursday, August 30th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $21.14.

Institutional investors and hedge funds have recently modified their holdings of the stock. Employees Retirement System of Texas bought a new position in Abercrombie & Fitch during the second quarter valued at approximately $979,000. Castleark Management LLC raised its position in Abercrombie & Fitch by 9.9% during the second quarter. Castleark Management LLC now owns 471,870 shares of the apparel retailer’s stock valued at $11,551,000 after acquiring an additional 42,680 shares in the last quarter. TD Asset Management Inc. bought a new position in Abercrombie & Fitch during the second quarter valued at approximately $1,234,000. Laurion Capital Management LP bought a new position in Abercrombie & Fitch during the second quarter valued at approximately $643,000. Finally, American Century Companies Inc. acquired a new position in Abercrombie & Fitch during the second quarter valued at approximately $3,830,000.

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.25 and a quick ratio of 1.43. The firm has a market cap of $1.41 billion, a P/E ratio of 28.35, a P/E/G ratio of 1.82 and a beta of 0.45.

Abercrombie & Fitch (NYSE:ANF) last announced its quarterly earnings results on Thursday, August 30th. The apparel retailer reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.10. Abercrombie & Fitch had a return on equity of 7.02% and a net margin of 1.05%. The company had revenue of $842.41 million for the quarter, compared to the consensus estimate of $845.11 million. During the same quarter last year, the company posted ($0.16) earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities research analysts expect that Abercrombie & Fitch Co. will post 0.76 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Friday, September 7th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, September 6th. This represents a $0.80 annualized dividend and a yield of 4.34%. Abercrombie & Fitch’s dividend payout ratio (DPR) is presently 123.08%.

Abercrombie & Fitch Company Profile (NYSE:ANF)

Abercrombie & Fitch Co, through its subsidiaries, operates as a specialty retailer. The Company operates in two segments, Hollister and Abercrombie. It offers apparel, intimates, personal care products, and accessories for men, women, and kids under the Hollister, Abercrombie & Fitch, abercrombie kids, and Gilly Hicks brand names.

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