Abercrombie & Fitch Co. (NYSE:ANF) – Equities researchers at William Blair dropped their FY2022 earnings per share (EPS) estimates for Abercrombie & Fitch in a research report issued to clients and investors on Tuesday, January 11th. William Blair analyst D. Carden now anticipates that the apparel retailer will post earnings of $4.34 per share for the year, down from their prior forecast of $4.66. William Blair also issued estimates for Abercrombie & Fitch’s Q4 2022 earnings at $1.12 EPS, Q1 2023 earnings at $0.35 EPS, Q4 2023 earnings at $1.30 EPS and FY2023 earnings at $4.02 EPS.
A number of other research analysts also recently issued reports on the company. B. Riley boosted their price target on Abercrombie & Fitch from $48.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, November 17th. Telsey Advisory Group decreased their price target on Abercrombie & Fitch from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Tuesday. UBS Group downgraded Abercrombie & Fitch from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $68.00 to $37.00 in a research note on Friday, January 7th. Zacks Investment Research raised Abercrombie & Fitch from a “hold” rating to a “strong-buy” rating and set a $37.00 target price for the company in a research note on Tuesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Abercrombie & Fitch in a research note on Wednesday, November 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $43.17.
Abercrombie & Fitch (NYSE:ANF) last issued its earnings results on Tuesday, November 23rd. The apparel retailer reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.20. Abercrombie & Fitch had a return on equity of 32.02% and a net margin of 7.62%. The firm had revenue of $905.20 million for the quarter, compared to analyst estimates of $895.17 million. During the same quarter in the prior year, the firm earned $0.76 earnings per share. Abercrombie & Fitch’s revenue for the quarter was up 10.4% on a year-over-year basis.
Abercrombie & Fitch declared that its board has authorized a share repurchase program on Tuesday, November 23rd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the apparel retailer to purchase up to 22.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.
In other Abercrombie & Fitch news, insider Kristin A. Scott sold 5,791 shares of the company’s stock in a transaction on Wednesday, November 3rd. The stock was sold at an average price of $45.00, for a total value of $260,595.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sarah M. Gallagher sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 24th. The shares were sold at an average price of $39.11, for a total value of $391,100.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. US Bancorp DE grew its holdings in Abercrombie & Fitch by 258.0% in the 2nd quarter. US Bancorp DE now owns 1,056 shares of the apparel retailer’s stock valued at $49,000 after buying an additional 761 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Abercrombie & Fitch during the 2nd quarter worth $97,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Abercrombie & Fitch during the 3rd quarter worth $126,000. Macquarie Group Ltd. grew its holdings in shares of Abercrombie & Fitch by 347.7% during the 3rd quarter. Macquarie Group Ltd. now owns 3,528 shares of the apparel retailer’s stock worth $133,000 after purchasing an additional 2,740 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Abercrombie & Fitch during the 3rd quarter worth $160,000. Institutional investors own 93.09% of the company’s stock.
Abercrombie & Fitch Company Profile
Abercrombie & Fitch Co engages in the retail of apparel, personal care products and accessories. It offers apparel products, including knit tops, woven shirts, graphic t-shirts, fleece, sweaters, jeans, woven pants, shorts, outerwear, dresses, intimates and swimwear; and personal care products and accessories for men, women and kids under the Abercrombie & Fitch, abercrombie kids, Hollister and Gilly Hicks brands.
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