Abercrombie & Fitch (NYSE:ANF) Price Target Lowered to $147.00 at Morgan Stanley

Abercrombie & Fitch (NYSE:ANF) had its price objective reduced by Morgan Stanley from $155.00 to $147.00 in a research report released on Thursday morning, Benzinga reports. They currently have an equal weight rating on the apparel retailer’s stock.

Other equities research analysts have also recently issued research reports about the stock. UBS Group cut their price objective on shares of Abercrombie & Fitch from $193.00 to $165.00 and set a neutral rating on the stock in a report on Thursday. Argus lowered Abercrombie & Fitch from a buy rating to a hold rating in a research report on Thursday, July 11th. Telsey Advisory Group reissued an outperform rating and issued a $208.00 target price on shares of Abercrombie & Fitch in a report on Wednesday. JPMorgan Chase & Co. upgraded Abercrombie & Fitch from a neutral rating to an overweight rating and raised their price target for the company from $167.00 to $194.00 in a report on Monday, July 22nd. Finally, Jefferies Financial Group upped their price target on shares of Abercrombie & Fitch from $155.00 to $215.00 and gave the stock a buy rating in a research note on Wednesday, May 29th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Abercrombie & Fitch has a consensus rating of Moderate Buy and a consensus price target of $178.43.

Abercrombie & Fitch Trading Up 2.8 %

ANF opened at $142.25 on Thursday. The stock has a market cap of $7.27 billion, a PE ratio of 17.69 and a beta of 1.54. The business has a 50 day moving average of $161.14 and a 200-day moving average of $144.93. Abercrombie & Fitch has a 52 week low of $49.24 and a 52 week high of $196.99. 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 announced its quarterly earnings data on Wednesday, August 28th. The apparel retailer reported $2.50 EPS for the quarter, beating the consensus estimate of $2.14 by $0.36. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.09 billion. Abercrombie & Fitch had a return on equity of 44.83% and a net margin of 9.53%. Equities research analysts predict that Abercrombie & Fitch will post 9.35 earnings per share for the current fiscal year.

Insider Activity at Abercrombie & Fitch

In other news, Director Nigel Travis sold 7,700 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $173.66, for a total transaction of $1,337,182.00. Following the sale, the director now owns 19,855 shares of the company’s stock, valued at approximately $3,448,019.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Kenneth B. Robinson sold 1,300 shares of Abercrombie & Fitch stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $171.61, for a total value of $223,093.00. Following the completion of the sale, the director now owns 5,880 shares of the company’s stock, valued at $1,009,066.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nigel Travis sold 7,700 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $173.66, for a total value of $1,337,182.00. Following the completion of the transaction, the director now directly owns 19,855 shares in the company, valued at approximately $3,448,019.30. The disclosure for this sale can be found here. 3.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Abercrombie & Fitch

Several hedge funds and other institutional investors have recently made changes to their positions in ANF. Renaissance Technologies LLC grew its position in shares of Abercrombie & Fitch by 146.3% during the 2nd quarter. Renaissance Technologies LLC now owns 863,100 shares of the apparel retailer’s stock valued at $153,494,000 after acquiring an additional 512,700 shares during the period. Norges Bank bought a new stake in Abercrombie & Fitch during the fourth quarter valued at about $37,632,000. Assenagon Asset Management S.A. grew its holdings in Abercrombie & Fitch by 2,036.5% during the second quarter. Assenagon Asset Management S.A. now owns 419,560 shares of the apparel retailer’s stock valued at $74,615,000 after purchasing an additional 399,922 shares during the period. Hennessy Advisors Inc. purchased a new stake in Abercrombie & Fitch in the fourth quarter worth about $32,897,000. Finally, Jupiter Asset Management Ltd. raised its stake in shares of Abercrombie & Fitch by 613.3% in the first quarter. Jupiter Asset Management Ltd. now owns 356,610 shares of the apparel retailer’s stock worth $44,694,000 after buying an additional 306,616 shares during the period.

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.