Jefferies Financial Group Weighs in on Abercrombie & Fitch Co.’s Q3 2022 Earnings (NYSE:ANF)

Abercrombie & Fitch Co. (NYSE:ANF) – Equities researchers at Jefferies Financial Group lifted their Q3 2022 EPS estimates for Abercrombie & Fitch in a research report issued on Wednesday, June 9th. Jefferies Financial Group analyst J. Stichter now forecasts that the apparel retailer will post earnings of $0.75 per share for the quarter, up from their prior forecast of $0.48. Jefferies Financial Group has a “Buy” rating and a $57.00 price target on the stock. Jefferies Financial Group also issued estimates for Abercrombie & Fitch’s Q4 2022 earnings at $1.81 EPS, FY2022 earnings at $4.02 EPS and FY2023 earnings at $3.75 EPS.

A number of other research firms also recently weighed in on ANF. Argus raised Abercrombie & Fitch from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Tuesday. Robert W. Baird raised their price target on Abercrombie & Fitch from $32.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, May 27th. They noted that the move was a valuation call. Citigroup raised their price target on Abercrombie & Fitch from $28.00 to $33.00 in a research report on Wednesday, March 3rd. Zacks Investment Research upgraded Abercrombie & Fitch from a “hold” rating to a “strong-buy” rating and set a $45.00 price target on the stock in a research report on Tuesday, June 1st. Finally, Telsey Advisory Group raised their price target on Abercrombie & Fitch from $48.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $42.40.

ANF opened at $40.84 on Friday. Abercrombie & Fitch has a fifty-two week low of $9.30 and a fifty-two week high of $44.49. The company has a quick ratio of 1.34, a current ratio of 1.82 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.54 billion, a P/E ratio of 15.35, a P/E/G ratio of 0.89 and a beta of 1.91. The stock’s fifty day moving average price is $39.42.

Abercrombie & Fitch (NYSE:ANF) last posted its earnings results on Tuesday, May 25th. The apparel retailer reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $1.05. Abercrombie & Fitch had a return on equity of 22.88% and a net margin of 5.02%. The company had revenue of $781.50 million during the quarter, compared to the consensus estimate of $688.53 million. During the same quarter last year, the firm earned ($3.29) earnings per share.

In other Abercrombie & Fitch news, CEO Fran Horowitz sold 51,000 shares of Abercrombie & Fitch stock in a transaction dated Thursday, May 6th. The stock was sold at an average price of $40.00, for a total value of $2,040,000.00. Following the transaction, the chief executive officer now owns 488,059 shares in the company, valued at $19,522,360. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles R. Perrin sold 31,268 shares of Abercrombie & Fitch stock in a transaction dated Thursday, April 29th. The shares were sold at an average price of $37.82, for a total value of $1,182,555.76. Following the completion of the transaction, the director now owns 37,255 shares in the company, valued at approximately $1,408,984.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 325,268 shares of company stock worth $12,415,246. Company insiders own 1.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Veriti Management LLC acquired a new stake in shares of Abercrombie & Fitch during the fourth quarter valued at about $55,000. Captrust Financial Advisors boosted its stake in shares of Abercrombie & Fitch by 1,644.5% during the first quarter. Captrust Financial Advisors now owns 2,390 shares of the apparel retailer’s stock valued at $82,000 after purchasing an additional 2,253 shares in the last quarter. Carolina Wealth Advisors LLC acquired a new stake in shares of Abercrombie & Fitch during the first quarter valued at about $126,000. Point72 Hong Kong Ltd acquired a new stake in shares of Abercrombie & Fitch during the first quarter valued at about $165,000. Finally, Walleye Capital LLC acquired a new stake in shares of Abercrombie & Fitch during the fourth quarter valued at about $206,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Abercrombie & Fitch Company Profile

Abercrombie & Fitch Co, through its subsidiaries, operates as a specialty retailer. The company operates in two segments, Hollister and Abercrombie. It offers an assortment of apparel, personal care products, intimates, and accessories for men, women, and children under the Hollister, Abercrombie & Fitch, abercrombie kids, Moose, Seagull, and Gilly Hicks brands.

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Earnings History and Estimates for Abercrombie & Fitch (NYSE:ANF)

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