Abercrombie & Fitch (NYSE:ANF) Downgraded to Equal Weight at Morgan Stanley

Morgan Stanley downgraded shares of Abercrombie & Fitch (NYSE:ANF) to an equal weight rating in a research report released on Tuesday morning. Morgan Stanley currently has $155.00 price objective on the apparel retailer’s stock, down from their previous price objective of $162.00.

A number of other analysts have also recently commented on the company. Telsey Advisory Group restated an outperform rating and issued a $208.00 price objective on shares of Abercrombie & Fitch in a research report on Wednesday, August 21st. UBS Group raised their price target on shares of Abercrombie & Fitch from $155.00 to $193.00 and gave the company a neutral rating in a research note on Thursday, May 30th. Citigroup increased their target price on Abercrombie & Fitch from $150.00 to $190.00 and gave the company a neutral rating in a report on Thursday, May 30th. Jefferies Financial Group raised their target price on Abercrombie & Fitch from $155.00 to $215.00 and gave the company a buy rating in a research report on Wednesday, May 29th. Finally, JPMorgan Chase & Co. upgraded Abercrombie & Fitch from a neutral rating to an overweight rating and boosted their price target for the stock from $167.00 to $194.00 in a research report on Monday, July 22nd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $183.57.

Abercrombie & Fitch Stock Up 0.9 %

Abercrombie & Fitch stock opened at $166.61 on Tuesday. Abercrombie & Fitch has a 52 week low of $49.11 and a 52 week high of $196.99. The firm has a market cap of $8.51 billion, a price-to-earnings ratio of 20.72 and a beta of 1.54. The business’s 50-day moving average price is $162.75 and its 200 day moving average price is $145.00. The company has a quick ratio of 1.15, a current ratio of 1.64 and a debt-to-equity ratio of 0.20.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings data on Wednesday, May 29th. The apparel retailer reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.48. Abercrombie & Fitch had a net margin of 9.53% and a return on equity of 44.83%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $967.37 million. During the same quarter last year, the company earned $0.39 EPS. The business’s revenue was up 22.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Abercrombie & Fitch will post 9.35 earnings per share for the current year.

Insider Activity at Abercrombie & Fitch

In other Abercrombie & Fitch news, CFO Scott D. Lipesky sold 9,000 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $176.48, for a total transaction of $1,588,320.00. Following the transaction, the chief financial officer now owns 115,455 shares of the company’s stock, valued at $20,375,498.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director James A. Goldman sold 4,120 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $176.48, for a total transaction of $727,097.60. Following the completion of the sale, the director now directly owns 7,565 shares of the company’s stock, valued at approximately $1,335,071.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott D. Lipesky sold 9,000 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $176.48, for a total transaction of $1,588,320.00. Following the completion of the transaction, the chief financial officer now directly owns 115,455 shares in the company, valued at approximately $20,375,498.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,120 shares of company stock valued at $3,875,693. 3.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Abercrombie & Fitch

A number of institutional investors and hedge funds have recently made changes to their positions in ANF. GAMMA Investing LLC acquired a new stake in Abercrombie & Fitch in the 4th quarter valued at approximately $49,000. Yousif Capital Management LLC raised its holdings in shares of Abercrombie & Fitch by 4.3% in the 4th quarter. Yousif Capital Management LLC now owns 25,866 shares of the apparel retailer’s stock valued at $2,282,000 after buying an additional 1,071 shares during the period. Truist Financial Corp acquired a new position in Abercrombie & Fitch during the 4th quarter worth about $472,000. Headlands Technologies LLC purchased a new position in Abercrombie & Fitch during the 4th quarter valued at about $79,000. Finally, Russell Investments Group Ltd. grew its position in Abercrombie & Fitch by 7.7% in the 4th quarter. Russell Investments Group Ltd. now owns 35,909 shares of the apparel retailer’s stock valued at $3,169,000 after acquiring an additional 2,557 shares in the last quarter.

About Abercrombie & Fitch

Abercrombie & Fitch Co, through its subsidiaries, operates as an omnichannel retailer in the United States, Europe, the Middle East, Asia, the Asia-Pacific, Canada, and internationally. The company offers an assortment of apparel, personal care products, and accessories for men, women, and kids under the Abercrombie & Fitch, abercrombie kids, Hollister, and Gilly Hicks brands.