Abercrombie & Fitch (NYSE:ANF) Issues Earnings Results

Abercrombie & Fitch (NYSE:ANFGet Rating) announced its quarterly earnings results on Tuesday. The apparel retailer reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.14, Briefing.com reports. Abercrombie & Fitch had a net margin of 2.16% and a return on equity of 11.57%. The company had revenue of $880.10 million for the quarter, compared to analyst estimates of $831.17 million. During the same quarter in the prior year, the business posted $0.86 EPS. Abercrombie & Fitch’s quarterly revenue was down 2.8% on a year-over-year basis. Abercrombie & Fitch updated its FY 2022 guidance to EPS and its Q4 2022 guidance to EPS.

Abercrombie & Fitch Price Performance

NYSE:ANF opened at $22.00 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.32 and a quick ratio of 0.58. Abercrombie & Fitch has a one year low of $14.02 and a one year high of $47.55. The company has a fifty day moving average price of $16.81 and a 200 day moving average price of $18.92. The stock has a market cap of $1.09 billion, a P/E ratio of 15.02 and a beta of 1.37.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ANF. B. Riley cut their target price on Abercrombie & Fitch from $35.00 to $30.00 in a report on Tuesday, August 16th. StockNews.com assumed coverage on Abercrombie & Fitch in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Morgan Stanley dropped their price target on shares of Abercrombie & Fitch from $17.00 to $15.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 30th. Citigroup reduced their price objective on shares of Abercrombie & Fitch from $21.00 to $19.00 in a research note on Wednesday, August 31st. Finally, Telsey Advisory Group dropped their target price on shares of Abercrombie & Fitch from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, August 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Abercrombie & Fitch presently has an average rating of “Hold” and an average price target of $21.17.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. MetLife Investment Management LLC grew its position in Abercrombie & Fitch by 42.3% during the first quarter. MetLife Investment Management LLC now owns 29,951 shares of the apparel retailer’s stock worth $958,000 after buying an additional 8,902 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Abercrombie & Fitch by 9.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,703 shares of the apparel retailer’s stock worth $1,558,000 after acquiring an additional 4,049 shares during the period. LSV Asset Management grew its holdings in shares of Abercrombie & Fitch by 41.7% during the 1st quarter. LSV Asset Management now owns 318,200 shares of the apparel retailer’s stock worth $10,179,000 after purchasing an additional 93,600 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of Abercrombie & Fitch by 23.5% in the first quarter. Allianz Asset Management GmbH now owns 252,944 shares of the apparel retailer’s stock valued at $8,092,000 after purchasing an additional 48,078 shares in the last quarter. Finally, Divisar Capital Management LLC lifted its position in Abercrombie & Fitch by 43.2% in the first quarter. Divisar Capital Management LLC now owns 868,421 shares of the apparel retailer’s stock worth $27,781,000 after purchasing an additional 261,824 shares during the period. Institutional investors own 95.22% of the company’s stock.

About Abercrombie & Fitch

(Get Rating)

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.

Recommended Stories

Earnings History for Abercrombie & Fitch (NYSE:ANF)

Receive News & Ratings for Abercrombie & Fitch Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abercrombie & Fitch and related companies with MarketBeat.com's FREE daily email newsletter.