Zacks reaffirmed their neutral rating on shares of Abercrombie & Fitch (NYSE: ANF) in a report issued on Wednesday. They currently have a $48.00 target price on the stock.
Zacks’ analyst wrote, “Driven by strong top-line growth along with improved margins, Abercrombie’s fourth quarter fiscal 2012 earnings surged over 97% to $2.21 per share and surpassed the Zacks Consensus Estimate of $1.93. Total sales augmented 11% to $1,469 million. Based on strong quarterly results, Abercrombie expects its fiscal 2013 earnings to come in the range of $3.35-$3.45 per share. We believe that management’s focus on expanding global operations and improving cash flows, while maintaining a healthy balance sheet, bode well for future growth. Abercrombie’s attractive valuation suggests that the stock has enough upside potential. However, we have maintained our long-term Neutral recommendation on the company, as its negative comps are weighing upon its performance. Further, we believe that the company’s over-dependence on outside suppliers, intense competition from discount retailers as well as seasonality of business may undermine growth prospect.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Janney Montgomery Scott reiterated a buy rating on shares of Abercrombie & Fitch in a research note to investors on Tuesday. They now have a $62.00 price target on the stock. Separately, analysts at Susquehanna cut their price target on shares of Abercrombie & Fitch from $64.00 to $60.00 in a research note to investors on Monday. They now have a positive rating on the stock. Finally, analysts at Citigroup raised their price target on shares of Abercrombie & Fitch from $42.00 to $50.00 in a research note to investors on Monday.
Fourteen investment analysts have rated the stock with a buy rating, two have assigned an overweight rating, and seventeen have issued a hold rating to the company. The company presently has an average rating of overweight and a consensus target price of $53.17.
Abercrombie & Fitch opened at 46.15 on Wednesday. Abercrombie & Fitch has a 52-week low of $28.64 and a 52-week high of $54.10. The stock’s 50-day moving average is currently $49.59. The company has a market cap of $3.643 billion and a price-to-earnings ratio of 14.76.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, March 19th. Shareholders of record on Monday, March 4th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Thursday, February 28th. This is a positive change from Abercrombie & Fitch’s previous quarterly dividend of $0.18.
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