B. Riley Comments on Abercrombie & Fitch Co.’s FY2022 Earnings (NYSE:ANF)


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Abercrombie & Fitch Co. (NYSE:ANF) – Investment analysts at B. Riley boosted their FY2022 earnings per share (EPS) estimates for Abercrombie & Fitch in a note issued to investors on Thursday, April 15th. B. Riley analyst S. Anderson now forecasts that the apparel retailer will earn $1.94 per share for the year, up from their previous forecast of $1.70. B. Riley currently has a “Buy” rating and a $46.00 target price on the stock. B. Riley also issued estimates for Abercrombie & Fitch’s FY2023 earnings at $2.09 EPS.

Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings results on Monday, March 1st. The apparel retailer reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.28. Abercrombie & Fitch had a negative net margin of 3.55% and a negative return on equity of 6.61%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm earned $1.31 earnings per share. Abercrombie & Fitch’s revenue for the quarter was down 5.3% compared to the same quarter last year.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Abercrombie & Fitch from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, February 16th. Morgan Stanley boosted their price target on shares of Abercrombie & Fitch from $14.00 to $22.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 10th. Wedbush boosted their price target on shares of Abercrombie & Fitch from $18.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, March 4th. Royal Bank of Canada lifted their price objective on shares of Abercrombie & Fitch from $27.00 to $30.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 3rd. Finally, Telsey Advisory Group boosted their price target on shares of Abercrombie & Fitch from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, February 24th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $28.50.

Shares of Abercrombie & Fitch stock opened at $40.51 on Friday. The firm has a market capitalization of $2.52 billion, a PE ratio of -21.78 and a beta of 1.82. The company has a current ratio of 1.60, a quick ratio of 1.02 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average is $33.69 and its 200 day moving average is $23.76. Abercrombie & Fitch has a 1 year low of $8.80 and a 1 year high of $41.08.

Hedge funds have recently made changes to their positions in the company. Veriti Management LLC acquired a new stake in Abercrombie & Fitch during the fourth quarter worth about $55,000. Carolina Wealth Advisors LLC purchased a new position in shares of Abercrombie & Fitch in the first quarter valued at approximately $126,000. Walleye Capital LLC purchased a new position in shares of Abercrombie & Fitch in the fourth quarter valued at approximately $206,000. CIBC World Markets Inc. purchased a new position in shares of Abercrombie & Fitch in the fourth quarter valued at approximately $272,000. Finally, Everence Capital Management Inc. purchased a new position in Abercrombie & Fitch during the first quarter worth approximately $465,000. 98.55% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Suzanne M. Coulter acquired 2,170 shares of the firm’s stock in a transaction that occurred on Monday, March 15th. The stock was purchased at an average cost of $34.61 per share, for a total transaction of $75,103.70. Following the purchase, the director now directly owns 2,170 shares of the company’s stock, valued at approximately $75,103.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kristin A. Scott sold 152,509 shares of the company’s stock in a transaction on Monday, January 25th. The stock was sold at an average price of $25.00, for a total value of $3,812,725.00. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

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

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Earnings History and Estimates for Abercrombie & Fitch (NYSE:ANF)

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