Abercrombie & Fitch Co. (ANF) is Downgraded by Deutsche Bank to Sell, Lowers Price Target to $ 13

Abercrombie & Fitch Co. (ANF) was Downgraded by Deutsche Bank to ” Sell” while Lowering the Price Target of the company shares to $ 13 from a previous price target of $14 . Earlier the firm had a rating of “Hold ” on the company shares. Deutsche Bank advised their investors in a research report released on Nov 23, 2016.

Many Wall Street Analysts have commented on Abercrombie & Fitch Co.. Shares were Downgraded by RBC Capital Mkts on Nov 21, 2016 to ” Underperform” and Lowered the Price Target to $ 12 from a previous price target of $20 .Shares were Reiterated by Telsey Advisory Group on Nov 21, 2016 to “Market Perform” and Lowered the Price Target to $ 16 from a previous price target of $19 .Shares were Reiterated by Mizuho on Nov 18, 2016 to “Neutral” and Lowered the Price Target to $ 15 from a previous price target of $20 .

On the company’s financial health, Abercrombie & Fitch Co. reported $0.02 EPS for the quarter, missing the analyst consensus estimate by $ -0.22 based on the information available during the earnings call on Nov 18, 2016. Analyst had a consensus of $0.24. The company had revenue of $821.70 million for the quarter, compared to analysts expectations of $832.48 million. The company’s revenue was down -6.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.48 EPS.

Abercrombie & Fitch Co. closed down -2.33 points or -13.76% at $14.6 with 1,79,59,856 shares getting traded on Monday. Post opening the session at $15.05, the shares hit an intraday low of $14.1901 and an intraday high of $15.3 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Investors should note that on Nov 17, 2016, Abercrombie & Fitch Co. announced a cash dividend of $0.2000. The company’s management has announced Nov 30, 2016 as the ex-dividend date and fixed the record date on Dec 2, 2016. The payable date has been fixed on Dec 12, 2016.

In a different news, on Sep 9, 2016, Bonadies Fran Horowitz (Pres. & Chief Merch. Officer) purchased 15,000 shares at $17.32 per share price. According to the SEC, on Sep 6, 2016, Craig R Stapleton (director) purchased 10,000 shares at $17.65 per share price. On Mar 22, 2016, Diane Chang (EVP of Sourcing) sold 7,600 shares at $32.05 per share price, according to the Form-4 filing with the securities and exchange commission.

Abercrombie & Fitch Co. (A&F) is a retailer that operates stores and direct-to-consumer operations. The Company operates through three business segments: U.S. Stores International Stores and Direct-to-Consumer. The U.S. Stores segment includes store operations in the United States and Puerto Rico. The International Stores segment includes store operations in Canada Europe Asia Australia and the Middle East. The Direct-to-Consumer segment includes operations directly associated with on-line operations both United States and international. A&F sells products including casual sportswear apparel including knit and woven shirts graphic t-shirts fleece jeans and woven pants shorts sweaters and outerwear; personal care products and accessories for men women and kids under the Abercrombie & Fitch abercrombie kids and Hollister brands. It also sells bras underwear personal care products sleepwear and at-home products for girls through Hollister under the Gilly Hicks brand.

Abercrombie & Fitch Co.

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Abercrombie & Fitch Co. - Is it time to Sell?

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