Traders Buy Abercrombie & Fitch Co. (ANF) on Weakness
Investors bought shares of Abercrombie & Fitch Co. (NYSE:ANF) on weakness during trading hours on Wednesday. $10.68 million flowed into the stock on the tick-up and $7.40 million flowed out of the stock on the tick-down, for a money net flow of $3.28 million into the stock. Of all stocks tracked, Abercrombie & Fitch Co. had the 23rd highest net in-flow for the day. Abercrombie & Fitch Co. traded down ($0.09) for the day and closed at $16.76
ANF has been the topic of several research analyst reports. Vetr upgraded shares of Abercrombie & Fitch Co. from a “strong sell” rating to a “sell” rating and set a $19.68 price objective on the stock in a research report on Thursday, May 26th. Credit Suisse Group AG reduced their price target on shares of Abercrombie & Fitch Co. from $19.00 to $18.00 and set an “underperform” rating on the stock in a research report on Friday, May 27th. Mizuho reduced their price target on shares of Abercrombie & Fitch Co. from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Friday, May 27th. Morgan Stanley reduced their price target on shares of Abercrombie & Fitch Co. from $19.00 to $17.00 and set an “underweight” rating on the stock in a research report on Friday, May 27th. Finally, Telsey Advisory Group reduced their price target on shares of Abercrombie & Fitch Co. from $34.00 to $24.00 and set a “market perform” rating on the stock in a research report on Friday, May 27th. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $22.77.
The firm has a market capitalization of $1.13 billion, a P/E ratio of 24.65 and a beta of 1.32. The company has a 50 day moving average of $19.77 and a 200-day moving average of $23.16.
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Abercrombie & Fitch Co. (NYSE:ANF) last issued its earnings results on Tuesday, August 30th. The apparel retailer reported ($0.25) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by $0.05. Abercrombie & Fitch Co. had a return on equity of 3.98% and a net margin of 1.36%. The firm earned $783.20 million during the quarter, compared to analysts’ expectations of $782.64 million. During the same quarter in the prior year, the company posted $0.12 earnings per share. Abercrombie & Fitch Co.’s quarterly revenue was down 4.2% compared to the same quarter last year. Analysts predict that Abercrombie & Fitch Co. will post $0.50 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, September 2nd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend was Wednesday, August 31st. Abercrombie & Fitch Co.’s dividend payout ratio is 119.40%.
In other news, insider Bonadies Fran Horowitz bought 15,000 shares of the stock in a transaction on Thursday, September 8th. The stock was acquired at an average cost of $17.32 per share, for a total transaction of $259,800.00. Following the acquisition, the insider now owns 44,701 shares of the company’s stock, valued at $774,221.32. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Craig R. Stapleton bought 10,000 shares of the stock in a transaction on Thursday, September 1st. The stock was purchased at an average price of $17.65 per share, with a total value of $176,500.00. Following the completion of the acquisition, the director now directly owns 57,398 shares in the company, valued at approximately $1,013,074.70. The disclosure for this purchase can be found here. 0.85% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Quantbot Technologies LP purchased a new stake in shares of Abercrombie & Fitch Co. during the second quarter valued at $139,000. CIBC World Markets Inc. purchased a new stake in shares of Abercrombie & Fitch Co. during the first quarter valued at $249,000. AMP Capital Investors Ltd purchased a new stake in shares of Abercrombie & Fitch Co. during the first quarter valued at $298,000. Macquarie Group Ltd. purchased a new stake in shares of Abercrombie & Fitch Co. during the second quarter valued at $169,000. Finally, Teacher Retirement System of Texas boosted its stake in shares of Abercrombie & Fitch Co. by 12.4% in the second quarter. Teacher Retirement System of Texas now owns 9,546 shares of the apparel retailer’s stock valued at $170,000 after buying an additional 1,053 shares in the last quarter.
Abercrombie & Fitch Co. Company Profile
Abercrombie & Fitch Co (A&F) is a specialty retailer that operates stores and direct-to-consumer operations. Through these channels, the Company sells products, including casual sportswear apparel, including knit tops and woven shirts, graphic t-shirts, fleece, jeans and woven pants, shorts, sweaters and outerwear; personal care products, and accessories for men, women and kids under the Abercrombie & Fitch, abercrombie kids and Hollister brands.
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