Abercrombie & Fitch (NYSE:ANF) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Abercrombie & Fitch (NYSE:ANF) had its price objective upped by Morgan Stanley from $147.00 to $149.00 in a report published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the apparel retailer’s stock.

Other equities analysts have also recently issued research reports about the stock. UBS Group increased their price target on shares of Abercrombie & Fitch from $165.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. increased their target price on Abercrombie & Fitch from $194.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Telsey Advisory Group reiterated an “outperform” rating and issued a $190.00 price target on shares of Abercrombie & Fitch in a report on Tuesday, November 26th. Jefferies Financial Group raised their price objective on Abercrombie & Fitch from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Citigroup upgraded shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 target price for the company in a research note on Friday, August 30th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Abercrombie & Fitch presently has a consensus rating of “Moderate Buy” and an average target price of $178.14.

Abercrombie & Fitch Stock Up 0.8 %

ANF stock opened at $149.69 on Wednesday. The stock’s 50 day moving average is $143.98 and its two-hundred day moving average is $153.63. Abercrombie & Fitch has a 52-week low of $75.18 and a 52-week high of $196.99. The company has a market capitalization of $7.65 billion, a PE ratio of 14.81 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.19. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm earned $1.83 earnings per share. The business’s revenue was up 14.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Abercrombie & Fitch will post 10.49 EPS for the current year.

Insider Buying and Selling

In related news, EVP Samir Desai sold 19,041 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was 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 directly owns 27,985 shares of the company’s stock, valued at $3,676,109.60. This represents a 40.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Helen Mccluskey sold 3,500 shares of Abercrombie & Fitch stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $139.38, for a total value of $487,830.00. Following the sale, the director now directly owns 37,470 shares in the company, valued at $5,222,568.60. The trade was a 8.54 % decrease in their position. The disclosure for this sale can be found here. 2.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Matrix Trust Co acquired a new stake in Abercrombie & Fitch in the second quarter worth about $35,000. Farther Finance Advisors LLC raised its position 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 buying an additional 123 shares in the last quarter. Private Trust Co. NA lifted its stake in shares of Abercrombie & Fitch by 604.4% in the 3rd quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock worth $44,000 after acquiring an additional 272 shares during the period. Quarry LP boosted its holdings in shares of Abercrombie & Fitch by 156.0% in the second quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock valued at $50,000 after acquiring an additional 170 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Abercrombie & Fitch by 242.6% during the second quarter. CWM LLC now owns 531 shares of the apparel retailer’s stock valued at $94,000 after acquiring an additional 376 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.