Abercrombie & Fitch (NYSE:ANF) Given New $173.00 Price Target at UBS Group

Abercrombie & Fitch (NYSE:ANF) had its price target hoisted by UBS Group from $170.00 to $173.00 in a report released on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the apparel retailer’s stock.

A number of other brokerages have also recently commented on ANF. JPMorgan Chase & Co. boosted their price objective on Abercrombie & Fitch from $194.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Jefferies Financial Group lifted their price objective on shares of Abercrombie & Fitch from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Telsey Advisory Group restated an “outperform” rating and issued a $190.00 target price on shares of Abercrombie & Fitch in a research note on Tuesday. Morgan Stanley raised their price target on shares of Abercrombie & Fitch from $147.00 to $149.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Citigroup upgraded shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 price objective on the stock in a report on Friday, August 30th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $178.14.

Abercrombie & Fitch Stock Performance

Shares of NYSE:ANF opened at $148.59 on Wednesday. Abercrombie & Fitch has a 1 year low of $74.68 and a 1 year high of $196.99. The stock has a 50-day simple moving average of $143.37 and a 200-day simple moving average of $153.58. The stock has a market capitalization of $7.59 billion, a P/E ratio of 15.74 and a beta of 1.50.

Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings data on Tuesday, November 26th. The apparel retailer reported $2.50 earnings per share (EPS) 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 company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the business earned $1.83 earnings per share. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. Analysts predict that Abercrombie & Fitch will post 10.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Samir Desai sold 19,041 shares of Abercrombie & Fitch stock in a transaction on Friday, September 6th. The stock was sold at an average price of $131.36, for a total transaction of $2,501,225.76. Following the transaction, the executive vice president now directly owns 27,985 shares in the company, valued at approximately $3,676,109.60. This trade represents a 40.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott D. Lipesky sold 9,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the sale, the chief financial officer now owns 106,455 shares of the company’s stock, valued at approximately $15,627,594. This trade represents a 7.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,541 shares of company stock worth $4,310,256. 2.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Abercrombie & Fitch

Several hedge funds and other institutional investors have recently bought and sold shares of ANF. Matrix Trust Co bought a new position in shares of Abercrombie & Fitch during the 2nd quarter valued at about $35,000. Farther Finance Advisors LLC raised its holdings in shares of Abercrombie & Fitch by 81.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer’s stock worth $38,000 after purchasing an additional 123 shares in the last quarter. Private Trust Co. NA lifted its stake in Abercrombie & Fitch by 604.4% during the third quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock valued at $44,000 after purchasing an additional 272 shares during the last quarter. Quarry LP lifted its stake in Abercrombie & Fitch by 156.0% during the second quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock valued at $50,000 after purchasing an additional 170 shares during the last quarter. Finally, CWM LLC boosted its holdings in Abercrombie & Fitch by 242.6% during the second quarter. CWM LLC now owns 531 shares of the apparel retailer’s stock worth $94,000 after buying an additional 376 shares in 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.