Abercrombie & Fitch Co. Given Neutral Rating at Zacks (ANF)
Abercrombie & Fitch Co. (NYSE:ANF)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Friday. They currently have a $44.00 target price on the stock. Zacks‘s price target would suggest a potential upside of 3.99% from the company’s current price.
Zacks’ analyst wrote, “In a surprising turnaround driven by its focus on executing long-term strategic plans, the company posted better-than-expected first-quarter fiscal 2014 earnings results and reaffirmed its outlook for the fiscal, giving some respite to investors. With this beat, the company has now surpassed expectations for the third consecutive quarter. Furthermore, we believe that management’s sustained focus on expanding global operations and improving cash flows, while maintaining a healthy balance sheet, bode well for future growth. However, the company’s comps performance, which depicts a downward trend with disappointing results for the past nine quarters, prevents us from becoming more constructive on the stock. Therefore, we maintain our Neutral recommendation on it.”
Abercrombie & Fitch Co. (NYSE:ANF) traded up 2.08% during mid-day trading on Friday, hitting $43.19. The stock had a trading volume of 1,319,849 shares. Abercrombie & Fitch Co. has a 52-week low of $31.14 and a 52-week high of $52.38. The stock has a 50-day moving average of $39.45 and a 200-day moving average of $36.97. The company has a market cap of $3.143 billion and a P/E ratio of 87.60.
Abercrombie & Fitch Co. (NYSE:ANF) last released its earnings data on Thursday, May 29th. The company reported ($0.17) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.19) by $0.02. The company had revenue of $822.00 million for the quarter, compared to the consensus estimate of $797.86 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. On average, analysts predict that Abercrombie & Fitch Co. will post $2.36 earnings per share for the current fiscal year.
In other Abercrombie & Fitch Co. news, EVP Diane Chang unloaded 2,000 shares of the company’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $43.03, for a total value of $86,060.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Abercrombie & Fitch Co. from $50.00 to $60.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at Stephens initiated coverage on shares of Abercrombie & Fitch Co. in a research note on Friday, June 20th. They set an “overweight” rating on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Abercrombie & Fitch Co. from $43.00 to $49.00 in a research note on Thursday, June 19th. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $44.35.
Abercrombie & Fitch Co (NYSE:ANF), through its subsidiaries, is a specialty retailer that operates stores and direct-to-consumer operations.
To view Zacks’ full report, visit Zacks’ official website.
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