Abercrombie & Fitch (NYSE:ANF) Price Target Raised to $149.00

Abercrombie & Fitch (NYSE:ANF) had its price target upped by Morgan Stanley from $147.00 to $149.00 in a research note released on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the apparel retailer’s stock.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group lifted their price target on shares of Abercrombie & Fitch from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Citigroup upgraded shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 target price on the stock in a report on Friday, August 30th. Telsey Advisory Group reiterated an “outperform” rating and issued a $190.00 price target on shares of Abercrombie & Fitch in a report on Tuesday. UBS Group raised their price objective on Abercrombie & Fitch from $165.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. increased their target price on Abercrombie & Fitch from $194.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $178.14.

Abercrombie & Fitch Stock Up 0.7 %

ANF stock opened at $149.56 on Wednesday. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 14.75 and a beta of 1.50. The business has a fifty day simple moving average of $143.82 and a 200-day simple moving average of $153.51. Abercrombie & Fitch has a 52 week low of $75.18 and a 52 week high of $196.99.

Abercrombie & Fitch (NYSE:ANF) last announced its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $2.50 EPS for the quarter, topping the consensus estimate of $2.31 by $0.19. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The firm’s revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.83 earnings per share. As a group, analysts expect that Abercrombie & Fitch will post 10.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Abercrombie & Fitch

In related news, Director Helen Mccluskey sold 3,500 shares of Abercrombie & Fitch stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $139.38, for a total value of $487,830.00. Following the completion of the transaction, the director now directly owns 37,470 shares in the company, 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 this link. Also, EVP Samir Desai sold 19,041 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 27,985 shares in the company, valued at $3,676,109.60. The trade was a 40.49 % decrease in their position. The disclosure for this sale can be found here. 2.58% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in shares of Abercrombie & Fitch by 45.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 454,550 shares of the apparel retailer’s stock worth $56,969,000 after purchasing an additional 141,788 shares during the period. Comerica Bank lifted its stake in Abercrombie & Fitch by 34.3% in the first quarter. Comerica Bank now owns 57,699 shares of the apparel retailer’s stock valued at $7,231,000 after buying an additional 14,736 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Abercrombie & Fitch by 209.2% during the first quarter. Cetera Investment Advisers now owns 48,648 shares of the apparel retailer’s stock valued at $6,097,000 after acquiring an additional 32,915 shares during the period. Cetera Advisors LLC bought a new position in shares of Abercrombie & Fitch during the first quarter worth about $674,000. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in shares of Abercrombie & Fitch by 64.4% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 26,944 shares of the apparel retailer’s stock worth $3,377,000 after acquiring an additional 10,556 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.