Wells Fargo & Co. Reiterates “Neutral” Rating for Abercrombie & Fitch Co. (ANF)
Abercrombie & Fitch Co. (NYSE:ANF)‘s stock had its “neutral” rating reaffirmed by stock analysts at Wells Fargo & Co. in a report issued on Monday, AR Network reports.
The analysts wrote, “We are reducing our Q3 2013 comp estimate from down 8-10% to down 9-11% and our EPS estimate from $0.48 to $0.39. Our FY2013E is now $1.87 vs. $2.03 previously and our FY2014E is. ANF is likely suffering from the same traffic and sales woes that are plaguing the teen sector this fall. Comps are likely to remain weak as we enter a challenging Holiday season, which should be marked by increased promo as retailers pull out all the stops to attract shoppers.”
A number of other firms have also recently commented on ANF. Analysts at FBR Capital Markets reiterated a “buy” rating on shares of Abercrombie & Fitch Co. in a research note to investors on Friday. They now have a $43.00 price target on the stock. Separately, analysts at UBS AG cut their price target on shares of Abercrombie & Fitch Co. from $40.00 to $35.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Finally, analysts at TheStreet downgraded shares of Abercrombie & Fitch Co. to a “hold” rating in a research note to investors on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seventeen have given a buy rating to the company. Abercrombie & Fitch Co. currently has an average rating of “Hold” and a consensus target price of $48.89.
Shares of Abercrombie & Fitch Co. (NYSE:ANF) traded up 0.18% during mid-day trading on Monday, hitting $34.26. 895,488 shares of the company’s stock traded hands. Abercrombie & Fitch Co. has a 52 week low of $30.06 and a 52 week high of $55.23. The stock’s 50-day moving average is $36.28 and its 200-day moving average is $45.93. The company has a market cap of $2.617 billion and a price-to-earnings ratio of 11.33. Abercrombie & Fitch Co. also saw unusually large options trading activity on Friday. Investors purchased 11,787 call options on the company. This represents an increase of approximately 262% compared to the average daily volume of 3,253 call options.
Abercrombie & Fitch Co. (NYSE:ANF) last released its earnings data on Thursday, August 22nd. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.28 by $0.12. The company had revenue of $945.70 million for the quarter, compared to the consensus estimate of $996.64 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts predict that Abercrombie & Fitch Co. will post $2.06 earnings per share for the current fiscal year.
Abercrombie & Fitch Co (NYSE:ANF), through its subsidiaries, is a specialty retailer of casual apparel for men, women and kids.
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