Abercrombie & Fitch Co. (NYSE:ANF – Get Rating) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 5,610,000 shares, a decrease of 17.1% from the August 31st total of 6,770,000 shares. Based on an average trading volume of 1,940,000 shares, the days-to-cover ratio is currently 2.9 days. Approximately 12.1% of the shares of the stock are short sold.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of Abercrombie & Fitch from $17.00 to $15.00 and set an “underweight” rating on the stock in a report on Tuesday, August 30th. Citigroup cut their price objective on shares of Abercrombie & Fitch from $21.00 to $19.00 in a report on Wednesday, August 31st. Telsey Advisory Group lowered their target price on shares of Abercrombie & Fitch from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, August 26th. Finally, B. Riley dropped their target price on shares of Abercrombie & Fitch from $35.00 to $30.00 in a research report on Tuesday, August 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.83.
Hedge Funds Weigh In On Abercrombie & Fitch
A number of large investors have recently modified their holdings of ANF. Invesco Ltd. raised its holdings in Abercrombie & Fitch by 19.6% in the 4th quarter. Invesco Ltd. now owns 377,692 shares of the apparel retailer’s stock valued at $13,155,000 after acquiring an additional 61,906 shares during the period. Point72 Hong Kong Ltd bought a new position in Abercrombie & Fitch in the 4th quarter valued at about $160,000. Canada Pension Plan Investment Board raised its holdings in Abercrombie & Fitch by 143.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 124,600 shares of the apparel retailer’s stock valued at $4,340,000 after acquiring an additional 73,500 shares during the period. Cubist Systematic Strategies LLC raised its holdings in Abercrombie & Fitch by 1,407.4% in the 4th quarter. Cubist Systematic Strategies LLC now owns 183,718 shares of the apparel retailer’s stock valued at $6,399,000 after acquiring an additional 171,530 shares during the period. Finally, Steadfast Capital Management UK Ltd. bought a new position in Abercrombie & Fitch in the 4th quarter valued at about $1,287,000. 95.22% of the stock is currently owned by institutional investors and hedge funds.
Abercrombie & Fitch Trading Up 0.8 %
Shares of ANF traded up $0.12 during trading hours on Friday, reaching $15.55. The stock had a trading volume of 1,880,600 shares, compared to its average volume of 1,924,793. The company has a market cap of $768.95 million, a P/E ratio of 12.54 and a beta of 1.50. The company has a quick ratio of 0.58, a current ratio of 1.32 and a debt-to-equity ratio of 0.45. Abercrombie & Fitch has a 52 week low of $14.02 and a 52 week high of $48.97. The firm has a 50-day moving average of $17.19 and a 200 day moving average of $23.09.
Abercrombie & Fitch (NYSE:ANF – Get Rating) last posted its quarterly earnings data on Thursday, August 25th. The apparel retailer reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.53). Abercrombie & Fitch had a return on equity of 11.57% and a net margin of 2.16%. The business had revenue of $805.90 million for the quarter, compared to analyst estimates of $843.56 million. During the same quarter in the prior year, the company earned $1.70 earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis. On average, sell-side analysts expect that Abercrombie & Fitch will post 0.07 earnings per share for the current fiscal year.
Abercrombie & Fitch Company Profile
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
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