UBS Group Forecasts Strong Price Appreciation for Abercrombie & Fitch (NYSE:ANF) Stock

Abercrombie & Fitch (NYSE:ANF) had its price objective increased by equities researchers at UBS Group from $170.00 to $173.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the apparel retailer’s stock. UBS Group’s price target points to a potential upside of 16.45% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group upped their price target on Abercrombie & Fitch from $215.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Telsey Advisory Group restated an “outperform” rating and issued a $190.00 target price on shares of Abercrombie & Fitch in a report on Tuesday. JPMorgan Chase & Co. upped their target price on Abercrombie & Fitch from $194.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Citigroup raised Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 price target on the stock in a research note on Friday, August 30th. Finally, Morgan Stanley upped their price objective on shares of Abercrombie & Fitch from $147.00 to $149.00 and gave the company an “equal weight” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $178.14.

Abercrombie & Fitch Stock Up 1.3 %

Shares of Abercrombie & Fitch stock opened at $148.56 on Wednesday. The business has a fifty day simple moving average of $143.64 and a 200-day simple moving average of $153.55. Abercrombie & Fitch has a fifty-two week low of $74.68 and a fifty-two week high of $196.99. The firm has a market cap of $7.59 billion, a price-to-earnings ratio of 14.69 and a beta of 1.50.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.19. Abercrombie & Fitch had a net margin of 10.76% and a return on equity of 47.35%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the company earned $1.83 EPS. Abercrombie & Fitch’s revenue was up 14.4% on a year-over-year basis. Analysts anticipate that Abercrombie & Fitch will post 10.35 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Helen Mccluskey sold 3,500 shares of Abercrombie & Fitch stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $139.38, for a total transaction of $487,830.00. Following the completion of the sale, the director now owns 37,470 shares of the company’s stock, valued at approximately $5,222,568.60. This trade represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Samir Desai sold 19,041 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $131.36, for a total value of $2,501,225.76. Following the completion of the transaction, the executive vice president now owns 27,985 shares in the company, valued at $3,676,109.60. This trade represents a 40.49 % decrease in their position. The disclosure for this sale can be found here. 2.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Abercrombie & Fitch

Several institutional investors have recently made changes to their positions in ANF. Matrix Trust Co bought a new position in Abercrombie & Fitch during the second quarter valued at approximately $35,000. Farther Finance Advisors LLC increased its stake in shares of Abercrombie & Fitch by 81.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer’s stock worth $38,000 after purchasing an additional 123 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Abercrombie & Fitch by 604.4% during the 3rd quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock valued at $44,000 after purchasing an additional 272 shares in the last quarter. Quarry LP lifted its stake in shares of Abercrombie & Fitch by 156.0% in the 2nd quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock valued at $50,000 after purchasing an additional 170 shares during the last quarter. Finally, CWM LLC boosted its holdings in Abercrombie & Fitch by 242.6% in the second quarter. CWM LLC now owns 531 shares of the apparel retailer’s stock worth $94,000 after purchasing an additional 376 shares in the last quarter.

Abercrombie & Fitch Company Profile

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.