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

Abercrombie & Fitch (NYSE:ANF) had its price objective lifted by equities researchers at Morgan Stanley from $147.00 to $149.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the apparel retailer’s stock. Morgan Stanley’s price objective would suggest a potential downside of 0.58% from the company’s current price.

ANF has been the subject of a number of other reports. Jefferies Financial Group boosted their price target on shares of Abercrombie & Fitch from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Citigroup raised shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 price target on the stock in a research report on Friday, August 30th. JPMorgan Chase & Co. boosted their price target on shares of Abercrombie & Fitch from $194.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Abercrombie & Fitch in a report on Tuesday. Finally, UBS Group upped their target price on shares of Abercrombie & Fitch from $165.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Abercrombie & Fitch presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.71.

Abercrombie & Fitch Price Performance

Shares of NYSE:ANF traded up $3.25 during trading on Wednesday, reaching $149.87. The stock had a trading volume of 743,503 shares, compared to its average volume of 1,692,719. Abercrombie & Fitch has a 52 week low of $74.68 and a 52 week high of $196.99. The business’s 50-day moving average price is $143.13 and its 200 day moving average price is $153.46. The stock has a market capitalization of $7.66 billion, a PE ratio of 15.88 and a beta of 1.50.

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

Insider Activity at Abercrombie & Fitch

In other news, EVP Samir Desai sold 19,041 shares of Abercrombie & Fitch stock in a transaction dated 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 approximately $3,676,109.60. This trade represents a 40.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Scott D. Lipesky sold 9,000 shares of Abercrombie & Fitch stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the transaction, the chief financial officer now directly owns 106,455 shares of the company’s stock, valued at approximately $15,627,594. This trade represents a 7.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,541 shares of company stock valued at $4,310,256 in the last quarter. Insiders own 2.58% of the company’s stock.

Institutional Trading of Abercrombie & Fitch

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ANF. Wolff Wiese Magana LLC boosted its stake in Abercrombie & Fitch by 6.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,070 shares of the apparel retailer’s stock valued at $150,000 after purchasing an additional 65 shares during the last quarter. Chartwell Investment Partners LLC boosted its stake in Abercrombie & Fitch by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 9,445 shares of the apparel retailer’s stock valued at $1,322,000 after purchasing an additional 74 shares during the last quarter. Atria Investments Inc boosted its stake in Abercrombie & Fitch by 5.4% during the 3rd quarter. Atria Investments Inc now owns 1,564 shares of the apparel retailer’s stock valued at $219,000 after purchasing an additional 80 shares during the last quarter. Sage Rhino Capital LLC boosted its stake in Abercrombie & Fitch by 5.5% during the 2nd quarter. Sage Rhino Capital LLC now owns 1,695 shares of the apparel retailer’s stock valued at $301,000 after purchasing an additional 89 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its stake in shares of Abercrombie & Fitch by 3.6% in the 2nd quarter. Ritholtz Wealth Management now owns 3,277 shares of the apparel retailer’s stock worth $583,000 after buying an additional 115 shares during 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.