Abercrombie & Fitch (NYSE:ANF) Given New $149.00 Price Target at Morgan Stanley

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

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

Abercrombie & Fitch Stock Up 1.3 %

NYSE:ANF opened at $148.59 on Wednesday. Abercrombie & Fitch has a 12-month low of $74.68 and a 12-month high of $196.99. The firm has a market capitalization of $7.59 billion, a P/E ratio of 15.74 and a beta of 1.50. The stock’s fifty day simple moving average is $143.37 and its 200-day simple moving average is $153.58.

Abercrombie & Fitch (NYSE:ANF) last posted its quarterly earnings results 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 return on equity of 47.35% and a net margin of 10.76%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company earned $1.83 EPS. The firm’s revenue was up 14.4% on a year-over-year basis. As a group, equities research analysts expect that Abercrombie & Fitch will post 10.35 earnings per share for the current year.

Insider Buying and Selling at Abercrombie & Fitch

In other Abercrombie & Fitch news, 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 sale, the chief financial officer now owns 106,455 shares of the company’s stock, valued at $15,627,594. This trade represents a 7.80 % decrease in their position. The transaction was disclosed in a document filed 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 dated Thursday, September 5th. The shares were sold at an average price of $139.38, for a total value of $487,830.00. Following the completion of the sale, the director now directly owns 37,470 shares in the company, valued at $5,222,568.60. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,541 shares of company stock valued at $4,310,256 in the last 90 days. 2.58% of the stock is currently owned by company insiders.

Institutional Trading of Abercrombie & Fitch

A number of hedge funds and other institutional investors have recently modified their holdings of ANF. Westfield Capital Management Co. LP acquired a new stake in shares of Abercrombie & Fitch in the third quarter valued at about $73,048,000. Renaissance Technologies LLC increased its position in shares of Abercrombie & Fitch by 146.3% in the second quarter. Renaissance Technologies LLC now owns 863,100 shares of the apparel retailer’s stock valued at $153,494,000 after acquiring an additional 512,700 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Abercrombie & Fitch by 2,036.5% in the second quarter. Assenagon Asset Management S.A. now owns 419,560 shares of the apparel retailer’s stock valued at $74,615,000 after acquiring an additional 399,922 shares during the last quarter. Driehaus Capital Management LLC increased its position in shares of Abercrombie & Fitch by 283.0% in the second quarter. Driehaus Capital Management LLC now owns 303,896 shares of the apparel retailer’s stock valued at $54,045,000 after acquiring an additional 224,555 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of Abercrombie & Fitch by 293.7% in the second quarter. Bank of Montreal Can now owns 286,434 shares of the apparel retailer’s stock valued at $51,043,000 after acquiring an additional 213,684 shares during 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.