Citigroup Upgrades Abercrombie & Fitch (NYSE:ANF) to Buy

Abercrombie & Fitch (NYSE:ANF) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm currently has a $135.00 price target on the apparel retailer’s stock, up from their prior price target of $90.00. Citigroup’s target price points to a potential upside of 38.95% from the company’s current price.

Several other equities analysts have also recently issued reports on ANF. Barclays lifted their price objective on Abercrombie & Fitch from $94.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 6th. BTIG Research reaffirmed a “buy” rating on shares of Abercrombie & Fitch in a research note on Tuesday, January 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $145.00 price objective on shares of Abercrombie & Fitch in a research report on Monday, January 5th. The Goldman Sachs Group started coverage on shares of Abercrombie & Fitch in a report on Thursday, December 11th. They set a “buy” rating and a $120.00 target price for the company. Finally, Telsey Advisory Group restated an “outperform” rating and set a $125.00 target price on shares of Abercrombie & Fitch in a research report on Tuesday, January 13th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.60.

Abercrombie & Fitch Stock Down 1.9%

Shares of ANF opened at $97.16 on Wednesday. Abercrombie & Fitch has a 52-week low of $65.40 and a 52-week high of $133.11. The company has a 50-day simple moving average of $105.72 and a 200-day simple moving average of $93.18. The company has a market capitalization of $4.46 billion, a PE ratio of 9.32 and a beta of 1.17.

Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings data on Wednesday, November 26th. The apparel retailer reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.22. Abercrombie & Fitch had a net margin of 10.07% and a return on equity of 38.01%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the firm earned $2.50 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. On average, research analysts anticipate that Abercrombie & Fitch will post 10.62 EPS for the current year.

Hedge Funds Weigh In On Abercrombie & Fitch

Several large investors have recently added to or reduced their stakes in ANF. Wellington Management Group LLP grew its holdings in Abercrombie & Fitch by 5,749.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,194,013 shares of the apparel retailer’s stock valued at $102,148,000 after buying an additional 1,173,601 shares during the period. Valeo Financial Advisors LLC boosted its position in shares of Abercrombie & Fitch by 10,469.4% in the second quarter. Valeo Financial Advisors LLC now owns 993,101 shares of the apparel retailer’s stock worth $82,278,000 after acquiring an additional 983,705 shares during the last quarter. Brandywine Global Investment Management LLC purchased a new stake in Abercrombie & Fitch in the second quarter valued at approximately $61,643,000. Norges Bank acquired a new position in Abercrombie & Fitch during the second quarter worth approximately $61,584,000. Finally, Boston Partners raised its stake in Abercrombie & Fitch by 102.5% during the third quarter. Boston Partners now owns 1,094,023 shares of the apparel retailer’s stock worth $92,940,000 after purchasing an additional 553,889 shares during the period.

Abercrombie & Fitch Company Profile

Abercrombie & Fitch Co (NYSE: ANF) is an American specialty retailer that designs, markets and sells casual apparel and accessories for men, women and children. Founded in 1892 by David T. Abercrombie and Ezra Fitch, the company evolved from an outdoor gear outfitter to a global lifestyle brand renowned for its relaxed, preppy aesthetic. Its product assortment includes tops, bottoms, outerwear, intimates, swimwear, fragrances and personal care items.

The company operates under multiple brand names, including Abercrombie & Fitch, Abercrombie Kids, Hollister and Gilly Hicks, each targeting distinct consumer segments from teens to young adults.