Abercrombie & Fitch Co. (NYSE:ANF – Get Rating)’s stock price gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $23.01, but opened at $27.35. Abercrombie & Fitch shares last traded at $28.18, with a volume of 2,359,486 shares changing hands.
The apparel retailer reported $0.39 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.41. The firm had revenue of $836.00 million for the quarter, compared to analyst estimates of $814.93 million. Abercrombie & Fitch had a net margin of 0.08% and a return on equity of 1.90%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.27) EPS.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the stock. Citigroup raised their target price on shares of Abercrombie & Fitch from $24.00 to $33.00 in a research note on Thursday. Argus downgraded shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a report on Wednesday, April 12th. StockNews.com initiated coverage on shares of Abercrombie & Fitch in a report on Thursday, May 18th. They issued a “hold” rating for the company. Morgan Stanley increased their price target on shares of Abercrombie & Fitch from $16.00 to $17.00 and gave the company an “underweight” rating in a report on Thursday, March 2nd. Finally, UBS Group increased their price target on shares of Abercrombie & Fitch from $28.00 to $32.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.75.
Hedge Funds Weigh In On Abercrombie & Fitch
Abercrombie & Fitch Stock Down 5.3 %
The company has a current ratio of 1.36, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $1.43 billion, a P/E ratio of 476.00 and a beta of 1.45. The firm’s fifty day moving average is $24.89 and its 200-day moving average is $25.25.
About Abercrombie & Fitch
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.
- Get a free copy of the StockNews.com research report on Abercrombie & Fitch (ANF)
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