Zacks Investment Research cut shares of Abercrombie & Fitch Company (NYSE:ANF) from a hold rating to a sell rating in a report issued on Tuesday.
According to Zacks, “Abercrombie has underperformed the broader industry in the last one year due to its dismal earnings trend in recent quarters. Notably, the company the company has a record of dismal earnings and sales trends, having reported negative earnings and sales surprises in four of the last five quarters. Also, the company’s recent decision to not sell itself has impacted stock performance. Moreover, it expects comps to remain challenging in the second quarter while improvements are likely in the second half of the year. Further, it expects currency headwinds to hurt sales and operating income in fiscal 2017. However, the solid comps trend at Hollister and robust direct-to-customer sales remain encouraging. Moreover, its robust strategies like capital investments, cost saving efforts, loyalty and marketing programs are gaining traction. Its focus on reviving brands and enhancing performance to return to profitable growth also bode well.”
A number of other equities analysts have also weighed in on the stock. William Blair reiterated an outperform rating on shares of Abercrombie & Fitch in a research report on Monday, July 17th. Jefferies Group LLC set a $13.00 target price on shares of Abercrombie & Fitch and gave the stock a hold rating in a research report on Monday, July 10th. Vetr upgraded shares of Abercrombie & Fitch from a hold rating to a strong-buy rating and set a $12.64 target price on the stock in a research report on Monday, July 10th. Deutsche Bank AG decreased their target price on shares of Abercrombie & Fitch to $9.00 and set a sell rating on the stock in a research report on Monday, July 10th. Finally, BMO Capital Markets set a $14.00 target price on shares of Abercrombie & Fitch and gave the stock a hold rating in a research report on Thursday, July 6th. Eleven equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $13.85.
Shares of Abercrombie & Fitch (ANF) traded up 0.31% during mid-day trading on Tuesday, reaching $9.81. 2,707,995 shares of the company were exchanged. The stock has a 50 day moving average price of $10.44 and a 200-day moving average price of $11.69. The stock’s market capitalization is $667.24 million. Abercrombie & Fitch has a 12 month low of $8.81 and a 12 month high of $23.29.
Abercrombie & Fitch (NYSE:ANF) last posted its quarterly earnings data on Thursday, May 25th. The apparel retailer reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by $0.21. Abercrombie & Fitch had a negative net margin of 0.55% and a negative return on equity of 1.26%. The firm had revenue of $661.10 million during the quarter, compared to analysts’ expectations of $651.25 million. During the same quarter last year, the business earned ($0.53) earnings per share. The business’s quarterly revenue was down 3.6% on a year-over-year basis. Analysts predict that Abercrombie & Fitch will post ($0.30) earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: “Abercrombie & Fitch Company (NYSE:ANF) Rating Lowered to Sell at Zacks Investment Research” was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this article on another website, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The legal version of this article can be accessed at https://stocknewstimes.com/2017/08/12/abercrombie-fitch-company-nyseanf-rating-lowered-to-sell-at-zacks-investment-research.html.
A number of institutional investors have recently added to or reduced their stakes in ANF. Point72 Asia Hong Kong Ltd acquired a new position in Abercrombie & Fitch during the first quarter valued at approximately $149,000. Suntrust Banks Inc. boosted its position in Abercrombie & Fitch by 7.9% in the first quarter. Suntrust Banks Inc. now owns 12,765 shares of the apparel retailer’s stock valued at $152,000 after buying an additional 931 shares during the period. State of Alaska Department of Revenue boosted its position in Abercrombie & Fitch by 79.7% in the second quarter. State of Alaska Department of Revenue now owns 13,427 shares of the apparel retailer’s stock valued at $167,000 after buying an additional 5,957 shares during the period. Quantitative Investment Management LLC acquired a new position in Abercrombie & Fitch during the second quarter valued at approximately $170,000. Finally, Mason Street Advisors LLC boosted its position in Abercrombie & Fitch by 7.0% in the first quarter. Mason Street Advisors LLC now owns 15,825 shares of the apparel retailer’s stock valued at $189,000 after buying an additional 1,037 shares during the period.
Abercrombie & Fitch Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Abercrombie & Fitch Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abercrombie & Fitch Company and related companies with MarketBeat.com's FREE daily email newsletter.