Abercrombie & Fitch (NYSE:ANF) PT Raised to $112.00

Abercrombie & Fitch (NYSE:ANF) had its price target raised by stock analysts at Morgan Stanley from $103.00 to $112.00 in a report issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the apparel retailer’s stock. Morgan Stanley’s target price indicates a potential downside of 12.81% from the company’s previous close.

Other analysts also recently issued reports about the stock. Jefferies Financial Group lifted their price objective on shares of Abercrombie & Fitch from $149.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Argus lifted their price objective on shares of Abercrombie & Fitch from $97.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, April 11th. UBS Group lifted their price objective on shares of Abercrombie & Fitch from $98.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Telsey Advisory Group reiterated an “outperform” rating and issued a $152.00 price objective (up from $140.00) on shares of Abercrombie & Fitch in a report on Wednesday, March 6th. Finally, StockNews.com upgraded shares of Abercrombie & Fitch from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Abercrombie & Fitch presently has an average rating of “Moderate Buy” and a consensus price target of $124.00.

Abercrombie & Fitch Price Performance

NYSE ANF opened at $128.46 on Monday. The business has a 50 day simple moving average of $123.72 and a 200 day simple moving average of $101.34. Abercrombie & Fitch has a 52-week low of $22.21 and a 52-week high of $140.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.10 and a current ratio of 1.59. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 20.65 and a beta of 1.57.

Abercrombie & Fitch (NYSE:ANF) last posted its earnings results on Wednesday, March 6th. The apparel retailer reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.14. Abercrombie & Fitch had a return on equity of 38.80% and a net margin of 7.67%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the business earned $0.81 EPS. Abercrombie & Fitch’s revenue for the quarter was up 21.1% compared to the same quarter last year. Analysts anticipate that Abercrombie & Fitch will post 7.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Abercrombie & Fitch news, insider Kristin A. Scott sold 120,000 shares of Abercrombie & Fitch stock in a transaction on Friday, March 8th. The shares were sold at an average price of $126.15, for a total transaction of $15,138,000.00. Following the completion of the transaction, the insider now directly owns 38,208 shares of the company’s stock, valued at $4,819,939.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Abercrombie & Fitch news, insider Kristin A. Scott sold 120,000 shares of Abercrombie & Fitch stock in a transaction on Friday, March 8th. The shares were sold at an average price of $126.15, for a total transaction of $15,138,000.00. Following the completion of the transaction, the insider now directly owns 38,208 shares of the company’s stock, valued at $4,819,939.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Scott D. Lipesky sold 35,000 shares of Abercrombie & Fitch stock in a transaction on Friday, March 8th. The stock was sold at an average price of $127.95, for a total transaction of $4,478,250.00. Following the transaction, the chief financial officer now directly owns 88,558 shares of the company’s stock, valued at $11,330,996.10. The disclosure for this sale can be found here. Insiders sold a total of 558,786 shares of company stock valued at $64,340,812 over the last ninety days. 3.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Abercrombie & Fitch

A number of institutional investors have recently modified their holdings of ANF. McGlone Suttner Wealth Management Inc. bought a new stake in Abercrombie & Fitch during the fourth quarter worth about $33,000. Spire Wealth Management increased its stake in shares of Abercrombie & Fitch by 51.4% in the first quarter. Spire Wealth Management now owns 315 shares of the apparel retailer’s stock valued at $39,000 after buying an additional 107 shares during the period. Castleview Partners LLC acquired a new stake in Abercrombie & Fitch during the 3rd quarter valued at approximately $44,000. Nomura Asset Management Co. Ltd. increased its position in Abercrombie & Fitch by 36.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 820 shares of the apparel retailer’s stock valued at $46,000 after purchasing an additional 220 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in Abercrombie & Fitch during the 4th quarter valued at approximately $49,000.

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.