Zacks Investment Research upgraded shares of Abercrombie & Fitch (NYSE:ANF) from a hold rating to a buy rating in a report issued on Tuesday, Zacks.com reports. Zacks Investment Research currently has $29.00 target price on the apparel retailer’s stock.
According to Zacks, “Abercrombie surpassed the industry in the past three months driven by strategic capital investments, cost-saving efforts, loyalty and marketing programs that are aiding quarterly performances. It boasts a robust surprise trend, having reported the seventh straight earnings beat in fourth-quarter fiscal 2018. Moreover, sales topped estimates in seven of the last eight quarters. Results gained from solid comps growth and gross margin expansion. Strength in Hollister and digital business also aided results. Further, the company provided a robust outlook for fiscal 2019 as it expects the momentum from strong top-line growth, gross margin expansion and operating expense leverage to continue. However, earnings and sales dipped year over year due to adverse impacts from unfavorable currency, calendar shift and additional 53rd week in fiscal 2017. Moreover, it expects currency headwinds to hurt sales in the first quarter and fiscal 2019.”
Other research analysts have also issued research reports about the stock. TheStreet upgraded shares of Abercrombie & Fitch from a c+ rating to a b- rating in a report on Friday, January 25th. Argus increased their price objective on shares of Abercrombie & Fitch to $28.00 and gave the company a buy rating in a research report on Friday, March 8th. Wedbush set a $23.00 price objective on shares of Abercrombie & Fitch and gave the company a buy rating in a research report on Thursday, March 7th. ValuEngine raised shares of Abercrombie & Fitch from a hold rating to a buy rating in a research report on Wednesday, March 6th. Finally, B. Riley set a $26.00 price objective on shares of Abercrombie & Fitch and gave the company a hold rating in a research report on Thursday, March 7th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $23.36.
NYSE ANF opened at $24.61 on Tuesday. Abercrombie & Fitch has a one year low of $15.28 and a one year high of $30.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.61 and a current ratio of 2.39. The company has a market capitalization of $1.72 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 1.21 and a beta of 0.63.
Abercrombie & Fitch (NYSE:ANF) last posted its quarterly earnings results on Wednesday, March 6th. The apparel retailer reported $1.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.20. Abercrombie & Fitch had a net margin of 2.12% and a return on equity of 6.93%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm posted $1.38 earnings per share. Abercrombie & Fitch’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities research analysts predict that Abercrombie & Fitch will post 1.4 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, June 7th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, June 6th. Abercrombie & Fitch’s dividend payout ratio (DPR) is 69.57%.
In other news, Director Nigel Travis acquired 2,917 shares of the stock in a transaction on Friday, March 8th. The stock was bought at an average price of $25.70 per share, with a total value of $74,966.90. Following the completion of the transaction, the director now directly owns 2,917 shares of the company’s stock, valued at $74,966.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.95% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Optimum Investment Advisors acquired a new stake in shares of Abercrombie & Fitch during the first quarter worth approximately $27,000. Advisor Group Inc. grew its position in shares of Abercrombie & Fitch by 238.3% during the first quarter. Advisor Group Inc. now owns 3,430 shares of the apparel retailer’s stock worth $94,000 after buying an additional 2,416 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in shares of Abercrombie & Fitch during the fourth quarter worth approximately $72,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Abercrombie & Fitch during the first quarter worth approximately $100,000. Finally, Investors Research Corp acquired a new stake in shares of Abercrombie & Fitch during the first quarter worth approximately $130,000.
About Abercrombie & Fitch
Abercrombie & Fitch Co, through its subsidiaries, operates as a specialty retailer. The Company operates in two segments, Hollister and Abercrombie. It offers apparel, personal care products, intimates, and accessories for men, women, and children under the Hollister, Abercrombie & Fitch, abercrombie kids, and Gilly Hicks brands.
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