Fintel reports that on August 25, 2023, Morgan Stanley upgraded their outlook for Abercrombie & Fitch Co. – (NYSE:ANF) from Underweight to Equal-Weight.

Analyst Price Forecast Suggests 34.10% Downside

As of August 2, 2023, the average one-year price target for Abercrombie & Fitch Co. – is 33.25. The forecasts range from a low of 18.18 to a high of $47.25. The average price target represents a decrease of 34.10% from its latest reported closing price of 50.46.

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The projected annual revenue for Abercrombie & Fitch Co. – is 3,695MM, a decrease of 4.06%. The projected annual non-GAAP EPS is 1.51.

What is the Fund Sentiment?

There are 500 funds or institutions reporting positions in Abercrombie & Fitch Co. -. This is an increase of 8 owner(s) or 1.63% in the last quarter. Average portfolio weight of all funds dedicated to ANF is 0.12%, a decrease of 2.11%. Total shares owned by institutions increased in the last three months by 3.37% to 56,387K shares. The put/call ratio of ANF is 1.24, indicating a bearish outlook.

What are Other Shareholders Doing?

IJR – iShares Core S&P Small-Cap ETF holds 3,524K shares representing 7.04% ownership of the company. In it’s prior filing, the firm reported owning 3,564K shares, representing a decrease of 1.13%. The firm increased its portfolio allocation in ANF by 30.02% over the last quarter.

Arrowstreet Capital, Limited Partnership holds 1,860K shares representing 3.72% ownership of the company. In it’s prior filing, the firm reported owning 1,560K shares, representing an increase of 16.13%. The firm increased its portfolio allocation in ANF by 52.07% over the last quarter.

Candlestick Capital Management holds 1,564K shares representing 3.12% ownership of the company. In it’s prior filing, the firm reported owning 884K shares, representing an increase of 43.46%. The firm increased its portfolio allocation in ANF by 121.55% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,547K shares representing 3.09% ownership of the company. In it’s prior filing, the firm reported owning 1,411K shares, representing an increase of 8.77%. The firm increased its portfolio allocation in ANF by 22.59% over the last quarter.

Marshall Wace, Llp holds 1,354K shares representing 2.70% ownership of the company. In it’s prior filing, the firm reported owning 822K shares, representing an increase of 39.29%. The firm increased its portfolio allocation in ANF by 210.59% over the last quarter.

Abercrombie & Fitch Background Information
(This description is provided by the company.)

Abercrombie & Fitch is an American lifestyle retailer that focuses on casual wear. Its headquarters are in New Albany, Ohio. The company operates three other offshoot brands: Abercrombie Kids, Hollister Co., and Gilly Hicks. As of February 2020, the company operated 854 stores across all brands.

This article originally appeared on Fintel