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

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

Several other research analysts have also recently weighed in on ANF. JPMorgan Chase & Co. upped their price target on shares of Abercrombie & Fitch from $194.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, October 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 report on Friday, August 30th. UBS Group upped their price target on shares of Abercrombie & Fitch from $165.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Jefferies Financial Group upped their price target on shares of Abercrombie & Fitch from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $190.00 price target on shares of Abercrombie & Fitch in a report on Tuesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $177.71.

Abercrombie & Fitch Stock Performance

ANF stock traded up $3.25 during midday trading on Wednesday, reaching $149.87. 743,503 shares of the company’s stock traded hands, compared to its average volume of 1,692,719. The company has a 50-day moving average price of $143.13 and a two-hundred day moving average price of $153.46. Abercrombie & Fitch has a 52 week low of $74.68 and a 52 week high of $196.99. The firm 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 issued its earnings results on Tuesday, November 26th. The apparel retailer reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.19. Abercrombie & Fitch had a net margin of 10.76% and a return on equity of 47.35%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm posted $1.83 EPS. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, analysts predict that Abercrombie & Fitch will post 10.35 EPS for the current fiscal year.

Insider Buying and Selling at Abercrombie & Fitch

In other Abercrombie & Fitch news, CFO Scott D. Lipesky sold 9,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the completion of the sale, the chief financial officer now directly owns 106,455 shares in the company, valued at $15,627,594. This represents a 7.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Helen Mccluskey sold 3,500 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $139.38, for a total transaction of $487,830.00. Following the sale, the director now owns 37,470 shares of the company’s stock, valued at approximately $5,222,568.60. This represents a 8.54 % 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 worth $4,310,256 over the last three months. Company insiders own 2.58% of the company’s stock.

Institutional Trading of Abercrombie & Fitch

A number of institutional investors have recently modified their holdings of the company. Wolff Wiese Magana LLC boosted its holdings in shares of Abercrombie & Fitch by 6.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,070 shares of the apparel retailer’s stock worth $150,000 after purchasing an additional 65 shares during the period. Chartwell Investment Partners LLC boosted its holdings in shares of Abercrombie & Fitch by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 9,445 shares of the apparel retailer’s stock worth $1,322,000 after purchasing an additional 74 shares during the period. Atria Investments Inc boosted its holdings in shares of Abercrombie & Fitch by 5.4% during the third quarter. Atria Investments Inc now owns 1,564 shares of the apparel retailer’s stock worth $219,000 after purchasing an additional 80 shares during the period. Sage Rhino Capital LLC raised its stake in Abercrombie & Fitch by 5.5% in the second quarter. Sage Rhino Capital LLC now owns 1,695 shares of the apparel retailer’s stock worth $301,000 after buying an additional 89 shares in the last quarter. Finally, Ritholtz Wealth Management raised its stake in Abercrombie & Fitch by 3.6% in the second quarter. Ritholtz Wealth Management now owns 3,277 shares of the apparel retailer’s stock worth $583,000 after buying an additional 115 shares in the last quarter.

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.