Abercrombie & Fitch (NYSE:ANF) Issues Quarterly Earnings Results

Abercrombie & Fitch (NYSE:ANFGet Rating) announced its earnings results on Tuesday. The apparel retailer reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.14, Briefing.com reports. Abercrombie & Fitch had a net margin of 2.16% and a return on equity of 11.57%. The company had revenue of $880.10 million for the quarter, compared to analysts’ expectations of $831.17 million. During the same quarter in the previous year, the company posted $0.86 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. Abercrombie & Fitch updated its FY 2022 guidance to EPS and its Q4 2022 guidance to EPS.

Abercrombie & Fitch Stock Up 6.0 %

Shares of NYSE:ANF opened at $23.98 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.32 and a quick ratio of 0.58. The firm has a market capitalization of $1.19 billion, a PE ratio of 19.34 and a beta of 1.37. The firm’s 50-day moving average is $17.13 and its two-hundred day moving average is $18.87. Abercrombie & Fitch has a 1 year low of $14.02 and a 1 year high of $42.09.

Hedge Funds Weigh In On Abercrombie & Fitch

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. acquired a new position in shares of Abercrombie & Fitch during the first quarter worth about $95,000. Captrust Financial Advisors grew its position in shares of Abercrombie & Fitch by 46.3% during the first quarter. Captrust Financial Advisors now owns 3,667 shares of the apparel retailer’s stock worth $117,000 after buying an additional 1,161 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Abercrombie & Fitch by 13.4% during the third quarter. Public Employees Retirement System of Ohio now owns 6,851 shares of the apparel retailer’s stock worth $107,000 after buying an additional 810 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Abercrombie & Fitch by 57.9% during the third quarter. Tower Research Capital LLC TRC now owns 7,073 shares of the apparel retailer’s stock worth $110,000 after buying an additional 2,594 shares in the last quarter. Finally, Point72 Hong Kong Ltd grew its position in shares of Abercrombie & Fitch by 633.7% during the second quarter. Point72 Hong Kong Ltd now owns 7,513 shares of the apparel retailer’s stock worth $127,000 after buying an additional 6,489 shares in the last quarter. 95.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ANF has been the topic of several recent research reports. Telsey Advisory Group lifted their target price on shares of Abercrombie & Fitch from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. lowered their price target on shares of Abercrombie & Fitch from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, October 31st. Morgan Stanley lowered their price target on shares of Abercrombie & Fitch from $17.00 to $15.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 30th. StockNews.com began coverage on shares of Abercrombie & Fitch in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Citigroup boosted their price target on shares of Abercrombie & Fitch from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Abercrombie & Fitch currently has a consensus rating of “Hold” and an average price target of $22.17.

Abercrombie & Fitch Company Profile

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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, and accessories for men, women, and children under the Hollister, Abercrombie & Fitch, abercrombie kids, Moose, Seagull, Gilly Hicks, and Social Tourist brands.

Further Reading

Earnings History for Abercrombie & Fitch (NYSE:ANF)

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